Bank of England holds interest rates at 5.25% for sixth time in a row
The Bank of England has held interest rates for the sixth time, at 5.25%.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, which is expected to be achieved in the near term, before rising again later in the year.
In line with expectations, at its meeting on 8 May, the MPC voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.
Anna Leach, Deputy Chief Economist, CBI, said: “Today’s vote 7-2 to hold rates is in line with the CBI’s expectation that the MPC want to see more evidence that past falls in domestic inflationary pressure are sustainable before they’ll move to cut rates.
“Services inflation and wages data both suggest a cautious approach is warranted. Inflation in the services sector is triple the inflation target and average earnings growth is still running at around double the rate consistent with the inflation target.
“With the economy appearing to be moving out of recession – albeit anaemically – there is a delicate balance to be struck between managing inflationary pressures and not snuffing out a nascent recovery.
“It is noteworthy that the Bank judge that demand growth is going to run behind supply growth over the next couple of years. Overall, today’s release does not change our view that the first rate cut is most likely to be in August.”
Leeds City Council Chief Executive to leave at end of 2024
Leeds City Council’s Chief Executive Tom Riordan has revealed his intention to leave his role at the end of the year to explore new opportunities.
After 14 years at the helm of the second-biggest local authority in the country, Tom has decided the time is right to try fresh challenges.
As one of the longest-standing UK local government chiefs, he has made a big impact in Leeds, working alongside council leaders and other senior politicians towards achieving their best city and best council ambitions. He was awarded the CBE for services to local government in the 2020 new year’s honours.
Tom said: “After 14 of the happiest years I’ve decided that the time is right to move on. I have genuinely loved being Chief Executive of Leeds City Council, working with the best people in the best city.
“We’ve established a collaborative Team Leeds culture that delivers, working together with our partners to ensure we have a city that’s regenerating and growing sustainably.
“A generation of children are growing up supported by outstanding-rated services, vulnerable people are supported wherever possible and older people are helped to live independent and fulfilling lives, in a city admired for what it gets done and the way it works.
“This has been the most difficult decision, but the time’s right to give someone else a chance to do one of the best jobs in the country.”
Leeds City Council Leader Councillor James Lewis said: “Tom is an outstanding chief executive and public servant who has worked tirelessly alongside senior politicians, officers and partners over many years with an unwavering determination to achieve the best for Leeds.
“We’ve faced a lot of challenges, not least on the financial front. His contribution has been invaluable in helping us deliver council services that are highly rated, while building stronger communities where people are supported towards better lives and life outcomes.
“In his time with us we’ve also attracted major investment, high-profile events and made great progress on building social housing and infrastructure to under-pin communities for the future.
“Tom has played a key part in helping us to get to where we are today and has built a strong team of senior officers to continue that work. I’d like to take this chance to thank him for his considerable contribution and dedication to the council and city.”
Since moving to Leeds City Council in 2010 Tom has been passionate about working alongside the political leadership to broaden the council’s impact across the city and the region while simultaneously supporting vulnerable people and frontline services.
In this time the council has been involved in attracting Channel 4, Burberry, the Bank of England and the UK Infrastructure Bank to the city, along with international events like the Grand Départ of the Tour de France. It has built the first direct Arena, greatly expanded the city centre across the South Bank and worked to facilitate the openings of the Trinity Leeds and Victoria Gate shopping centres.
A recruitment process will begin shortly to find Tom’s successor.
Jobs on the line as Liberty Steel consults on mothballing Scunthorpe plant
Consultations have begun as Liberty Steel proposes to mothball its Scunthorpe Liberty Merchant Bar (LMB) plant.
The potential closure of the factory, which creates flat steel sections used in shipbuilding and car making, puts over 120 jobs at risk.
Liberty Steel’s chief transformation officer, Jeffrey Kabel, said that after restructuring and refocusing Liberty Steel’s UK operations over the last two years, to enable them to operate viably, the company have “explored every option to achieve the same” at Liberty Merchant Bar.
According to Kabel, however, a number of external factors have prevented this, including the high energy costs UK steel producers face, and the loss of third party gas supply to its furnaces. This has led to the proposed mothballing of the plant. Kabel added that the company will look to retain critical skills and redeploy staff where possible.Sewell starts work on Bradford College facilities later this month
Hull-based Sewell Construction is working with Bradford College to create multi-million-pound T Level facilities.
The work, starting this month, will involve the remodelling of a number of areas within the College’s David Hockney Building to create a high quality training environment, enabling students to learn skills which will help them in their future careers. As well as adding new lecturing spaces for business and media students, the project will also create new hair and beauty salon facilities and refurbish the college’s existing training restaurant. Both will be open to the public and used by students to hone their new skills in real-life environments. The commercial and training salon will include a barbers, nail bar and laser room for beauty treatments, and the restaurant will incorporate a new outdoor street food cabin and dining area. Business and admin students will have refurbished classrooms, and media students will be able to use the latest technology in a new TV studio, editing and sound suites. The fast-paced construction programme will take place over the summer, allowing students to return in September to their brand new facilities. Pamela Sheldon, Head of Projects at Bradford College said: “We’re delighted to be working with Sewell Construction again to bring even more exceptional vocational T Level facilities to Bradford College. Their team is helping us realise our ambitious plans to create the best facilities to help turn our students’ passions into successful professions.” “Sewell Construction haven’t just helped us to create a better campus for our students, but they’re also getting involved in our curriculum, supporting our construction students with masterclasses, work placements and industry insight days. Together, we can help young people achieve their potential, and really change lives.” Dave Major, leading the project for Sewell Construction, said: “It’s fantastic to work with a partner who shares our values, and our team have loved getting involved in supporting the next generation of construction professionals. The college have been really keen to embed sustainability and social value into their refurbishment projects, and we’re looking forward to seeing students enjoying their new facilities when they return after summer.” Sewell was appointed through the Procure Partnerships Framework. Sewell Construction and sister company I&G have delivered more than £40m worth of projects alongside Procure Partnerships, with the framework offering public sector clients a dynamic and compliant route to market using mini-competition and direct award functions. This project is also the result of a £3.5m Department for Education (T Level Capital Fund – Wave 5) investment.Renewables award judges blindside panel member with ‘champion’ award
Camilla Carlbom Flinn was overwhelmed to be named Humber Renewables Champion, having been blindsided by the judging panel she had been part of.
Her work through a huge period of change for the regional group Humber Marine and Renewables – at a time when her own business was bought out – was a key consideration.
Camilla said: “It is quite overwhelming. This room is overflowing with people who I admire, I look up to and I respect, and to receive this when surrounded by so many amazing companies, amazing people and the future also of this region, with all these wonderful apprentices, it really is a surprise and really is an honour.”
Born in Cleethorpes, she studied international business management and broadcast journalism, with an early media career taking her to Paris, London and New York before she returned to Lincolnshire in 2008. Her father Anthony’s passing saw her take the helm of Carlbom Shipping, navigating the business into the burgeoning offshore wind market as a mainstay, coal, entered terminal decline.
Her award came during an evening at which winners of the 2024 Humber Renewables Awards used the stage to encourage the next generation to take the industry forward on a sparkling night of celebration.
A dozen years of recognition of the sector’s sensational role in helping regenerate the region were rung up as the event once again became a fitting finale to Humber Marine and Renewables’ Offshore Wind Connections conference. Held at Hull’s DoubleTree by Hilton Hotel – a venue that the event heard “probably wouldn’t have been built had it not been for the emergence of offshore wind,” – 200 guests toasted standout stories uniting the Energy Estuary. Camilla Carlbom Flinn was crowned Humber Renewables Champion, with her work to diversify the fourth generation family business and take the host organisation to a new level highlighted, as well as impressive ambassadorial duties with her proud Swedish heritage. And RWE was named Medium to Large Business of the Year, recognising the huge commitments made to the region with skills programmes, vessel purchases and operations and maintenance expansion. Its focus on the future workforce was embraced by many winners, with demand clear. Long-term operator from Grimsby, Tidal Transit, won the Green Innovation Award, for its pioneering electric crew transfer vessel project, with a full retrofit of a diesel craft. Leo Hambro, commercial director, said: “I am delighted that after 12 years of working in the Humber, we are now creating a change that will not just last for another 12 years, but for generations. It will make a change, not just economically, but environmentally, reducing emissions. “We are delighted to work out of Humber. The support we have found locally is second to none, the supply chain, the clients we work with directly are so supportive, and we feel like part of the family. “We can’t do it on our own. We need mariners, there is a lack of them, and for tomorrow there is an even bigger problem. We need to engage with kids at any age to show them there isn’t just the opportunity to be a wind engineer, there are opportunities to work at sea, to create a full life career.”Hull’s Bio-D cleans up with honour of King’s Award for Enterprise
Hull-based independent green cleaning product manufacturer Bio-D has been honoured with a King’s Award for Enterprise for Sustainable Development.
Bio-D is one of just 252 organisations to be recognised nationally as part of the 2024 Awards. Recipients of The King’s Award are recommended by the Prime Minister, and personally approved by His Majesty The King. Founded in 1989, Bio-D has focused on creating powerful green cleaning products since the very beginning. B Corp certified since 2022, it is the UK’s leading manufacturer of environmentally responsible, ethically sound, vegan cleaning products. Bio-D is just one of 29 businesses to win a King’s Award for Enterprise for the Sustainable Development category in 2024, underlining its environmental credentials. MD Lloyd Atkin said: “We are honoured and delighted to receive such a prestigious award. Having spent 35 years dedicating ourselves to sustainability and reducing the impact of our products and operations on our precious and fragile environment, it is wonderful to be recognised for our efforts.” Lloyd will be attending a Reception for The King’s Award for Enterprise recipients, which is hosted by The King at Windsor Castle. Just some of Bio-D’s environmental achievements that contributed to securing a King’s Award include:- Using bottles created from 100% post-consumer plastic
- Achieving net zero for Scope 1 and 2 emissions
- Introducing a closed-loop laundering initiative for its 20 litre refill containers
- Significantly reducing CO2 emissions per single product it manufactures
- Removing gas completely, powering its site with renewable energy
Government launches proposals to tackle labour shortages in agriculture
The government implement a series of new measures to support UK farms and food industry businesses.
Environment Secretary Steve Barclay said: “We have a world-class food and drink sector, and the measures announced today will strengthen this by boosting funding for the cutting-edge technology that will reduce reliance on migrant labour in the long term.
“Businesses do best when they can plan effectively for the future, which is why we’ve extended the seasonal worker visa route until 2029 to give farmers and growers the certainty they need to thrive.”
The measures include:
- extending the seasonal worker visa route for five years until 2029 to give businesses time to plan effectively;
- up to £50 million of further funding for new technology to support fully automated packhouses and more support to follow to bring robotic crop pickers on a par with human pickers in three to five years;
- creating a comprehensive strategy to enhance skills provision and attract domestic workers.
Councillor speaks out against about ‘industrialisation of Lincolnshire’
Lincolnshire County Councillor Colin Davie has spoken out against plans by National Grid and Osean to run a further three lines of electricity cables under the county, and to develop a substation at Alford that will be bigger than the town itself.
In a statement at the council’s Executive he said: “In January National Grid announced plans to run a 140km line of 50m high electricity pylons through the Lincolnshire countryside, from Grimsby in North East Lincolnshire to Walpole, just over the Norfolk border. We have been extremely clear about our objection to this proposal.
“We have since received details of two proposals from National Grid and one from Osean which will see three further cabling routes and infrastructure coming onshore in Lincolnshire. Once again, the proposals involve cables running under the sea all the way from Scotland, coming on land in Lincolnshire to take power primarily to London and the Southeast.
“Whilst burying cabling underground has obvious benefits over large-scale above-ground infrastructure, with National Grid planning to carve up Lincolnshire through so many projects, we need to look at the cumulative impacts of all of these proposals and the detrimental impacts they will have on our landscape and the mental health of our residents.
“This is industrialisation of the Lincolnshire coast is on a scale we have never seen before. A substation proposed for Alford, for example, has a larger footprint that the town itself.
“If all these proposals were taken as one application by a planning authority, it would be refused due to the sheer scale of it and the impact, irreversibly changing to character of the county.
“We will not accept this piecemeal approach to development. It is our job to champion Lincolnshire and fight for the landscapes and the communities that would be affected so hugely by these proposals.
“Instead, we proposed that National Grid look to install this infrastructure offshore. This would be the most sustainable, secure, and cost-effective option and would mean the power could come onshore precisely where it is most needed, and not channelled through vast swathes of the countryside.
“I will be writing to councils in the East Anglia – who are in much the same position – so that we can put on a united front against these plans.”
These projects will be classed as Nationally Significant Infrastructure Projects, so planning permission will be decided by the government, and not Lincolnshire County Council or the district councils.
PR consultancy moves into new Sheffield offices
Altitude PR has relocated to New Era Square, a vibrant landmark development at St Mary’s Gate, as it continues to grow its client base across the UK.
Altitude PR, named the UK’s Best New Consultancy in 2023 by the Chartered Institute for Public Relations, will move into its new premises in Sheffield’s New Era Square with colleagues from Counter Context.
Altitude is Counter Context’s dedicated PR brand and the new offices will reflect both fast-growing consultancies.
The move from existing premises at St James’s House on Vicar Lane has been made possible with help from commercial property specialist colloco and design and build experts BLOKKA and FORMM.
Altitude Director Jane Whitham said: “New Era Square really reflects our values. It’s a vibrant quarter of the city and has an up-market entertainment and dining scene at street level. We helped launch the £70m New Era scheme and to make this our new home is fantastic.
“The offices are striking, the location is excellent, and there’s great parking. The team is looking forward to welcoming visitors and showcasing our new space as we continue to evolve.”
Senior hire for Andrew Jackson Solicitors’ shipping & transport practice
Gavin Farquhar has joined Andrew Jackson Solicitors LLP’s shipping & transport practice as a partner.
Gavin – who is dual Scottish and English law qualified – has over 30 years’ broad experience acting nationally and internationally for a range of businesses operating in the marine and shipping industry, particularly in the energy field.
His expertise includes charterparties, the sale and purchase of vessels, vessel construction, as well as floating production storage and offloading vessel service agreements.
Having been involved in shipping work since the inception of the offshore oil industry to the UK, Gavin has acted for numerous developers of – and vessel suppliers to – offshore wind projects, oil field operators and supply companies, commercial fishing businesses, ferry companies, port authorities and multipurpose ship charterers and owners.
Gavin has a wealth of specialist experience around the fishing and hydrocarbons industries in the Falkland Islands, along with advising businesses based in Ireland, West Africa and the Middle East, especially in relation to vessel purchases. Shipbuilding contracts and charterparties for vessels destined for work on Offshore Wind projects, including vessels with hybrid engines, has been an area of significant growth recently.
Gavin said: “I am delighted to be joining a team with such an enviable and longstanding reputation in the maritime sector. I very much look forward to helping develop the practice in the areas I have focused on, especially in the energy sector.”
Dominic Ward, senior partner and head of shipping & transport at Andrew Jackson Solicitors, added: “We have had cases on with Gavin in the past, particularly in relation to the Falkland Islands, and have first hand knowledge of his valuable experience and expertise.
“We are delighted to welcome Gavin to Andrew Jackson; I know that he will be a valuable addition to our team and help to ensure we continue to deliver the highest standards of client service.”
