Ministers will be required to publish list of freebies to public (2024)

Table of Contents
Key moments Latest updates That’s all for today Lib Dems: I’m startled to see Tories acting like they’re defenders of standards New set of principles on gifts to be published Labour plans to tighten up freebies grilled by Tories Rich Britons will ‘bear the largest burden’, says Reeves Jeremy Corbyn: Alex Salmond was a good friend to lots of us Tice says Salmond was a ‘truly great man’ Jeremy Hunt: Labour is about to break its manifesto pledges Frontbenchers remember Alex Salmond Stephen Flynn pays tribute to Alex Salmond Coming up Tories: Starmer is attacking wealth creators John Mason expelled from SNP after ‘no genocide’ in Gaza post on X Why the West is worried Xi’s economic bazooka has misfired Reeves: I’m confident there will be no non-dom exodus Government announces new sanctions on Iran The rich will ‘bear the largest burden’ in the Budget, says Reeves Downing Street has ‘full confidence’ in Louise Haigh Greg Hands backs Kemi Badenoch Robert Jenrick: I want head-to-head debate ‘any place, any time’ No 10 plays down Musk’s summit absence No 10 points to budget ‘black hole’ amid NI rise fears No 10 declines to be drawn on Swift row Downing Street rules out slavery reparations Calls for slavery reparations will be handled ‘sensitively’, says minister Analysis: Starmer shook off his Eeyore disposition Gambling stocks lose nearly £3.5bn over Reeves tax raid fears Red tape is ‘killing’ Britain, says Google boss Keir Starmer: We need to ‘run towards’ possibilities of AI Planning decisions are taking far too long, Starmer says Starmer: Judge me in years, not months Starmer hits out at ‘inertia’ over wind farms Prime Minister: We need the ‘shock and awe’ of investment Starmer: This is the moment to back Britain Keir Starmer: We will run towards the fire to put it out Keir Starmer: Growth is critical to finding ‘calmer waters’ Starmer kicks off speech at International Investment Summit Business Secretary vows ‘long-term, inclusive growth’ Business Secretary: Britain is open for business Coming up ‘Cut the cake!’: Jenrick marks 99th anniversary of Thatcher’s birthday Meet and greet Have your say: Badenoch or Jenrick? Labour will be ‘sensitive’ in handling slavery reparation demands Robert Jenrick: Labour will break manifesto tax pledge Labour’s tax on jobs ‘will scare away business’ Cabinet minister declines to say if Musk was invited Peter Kyle rules out single market return Britain needs to regulate ‘smartly’, says Cabinet minister Peter Kyle: We can learn from Covid fast-tracking Science Secretary refuses to rule out ban on TikTok Peter Kyle: ‘Brilliant’ Chagos deal was ‘in Britain’s best interests’ I have full confidence in Louise Haigh, says Peter Kyle P&O Ferries has turned a corner, insists Peter Kyle Labour: We never said tackling small boats would be easy Peter Kyle: We’re getting the fundamentals right We’re making the tough choices Britain needs, says Cabinet minister Peter Kyle: Musk absence nothing to do with ‘two-tier Keir’ jibe What’s on the agenda today? Starmer removes paintings of Elizabeth I and Sir Walter Raleigh Starmer vows to rip up red tape Curtice: Badenoch and Jenrick can’t save the Tories Good morning References

Key moments

4:50pmLabour plans to tighten up freebies grilled by Tories3:54pmJeremy Hunt: Labour is about to break its manifesto pledges3:47pmParliament pays tribute to Alex Salmond2:07pmReeves: I’m confident there will be no non-dom exodus12:26pmDowning Street rules out slavery reparations
Ministers will be required to publish list of freebies to public (1)

The cost of gifts to ministers will be made public, the Labour chair has said.

Addressing an urgent question by the shadow paymaster general in parliament, Ellie Reeves said the rules for ministers would changed to become similar to the stricter ones for MPs.

Ms Reeves said: “Under the last government, the rules for ministers declaring hospitality were less transparent than for other MPs.

“Lists of hospitality received by ministers were only published by Whitehall departments once a quarter and did not include the value.

“In contrast, MPs and shadow ministers’ interests must be declared within 28 days and include the cost of the hospitality.

“The government will correct this imbalance. The Tories’ freebies loophole will be closed.

“In the future, the government will publish a register of ministers’ gifts and hospitality on a broadly equivalent basis to that which is published in the registers of members and lords’ interests.

“This will bring publication of ministerial transparency data more closely in line with the parliamentary regime for gifts and hospitality.”

  • Latest updates

Dominic Penna Political Correspondent. Jacob Freedland

That’s all for today

Thank you for following today’s live blog. Dominic Penna will be with you in the morning.

Lib Dems: I’m startled to see Tories acting like they’re defenders of standards

Sarah Olney weighs in: “I’m startled to see Conservative MPs acting like they’re defenders of standards in public life.

“We will never know the interests of ministers who served under Liz Truss because their interests were never published!”

New set of principles on gifts to be published

Responding to John Glen, Ellie Reeves has said that the Prime Minister will publish a new set of principles on gifts “shortly” which will outlaw the “freebie loophole”.

Ms Reeves changed the subject to scandals under the last government: “We will take no lectures from the party opposite on standards in public life.

“Let me tell the gentleman opposite what shattered trust in politics: the Conservatives over the last 14 years in power.”

Labour plans to tighten up freebies grilled by Tories

The shadow paymaster general has hit back at Ellie Reeves’ announcement by pressing the Labour chair on whether ministers will still be able to accept freebies?

John Glen MP said: “What gifts and hospitality can ministers now accept? Can cabinet ministers continue to party in DJ booths in Ibiza?

Will ministers be banned from taking junkets at the Oasis 2025 tour or was it just Taylor Swift that was a handout too far?

Rich Britons will ‘bear the largest burden’, says Reeves

Rich Britons will “bear the largest burden” at the Budget at the end of this month, Rachel Reeves has said.

In an interview recorded prior to today’s International Investment Summit, the Chancellor warned it would be those with the “broadest shoulders” at the sharp end of her first fiscal event on Oct 30.

Speaking to Andrew Marr on the New Statesman’s NS podcast, Ms Reeves said: “I said during the election campaign we’re not going to be introducing a wealth tax.

“But I think people will be in no doubt when we do the Budget that those with the broadest shoulders will be bearing the largest burden.

“You saw that in our manifesto campaign. You know, non-doms, private equity, the windfall tax on the big profits the energy companies are making and putting VAT and business rates on private schools.”

Jeremy Corbyn: Alex Salmond was a good friend to lots of us

Jeremy Corbyn, the MP for Islington North, joked: “The SNP clearly treats its former leaders with great respect, and I think that’s a good idea.”

Thanking the Speaker for making time for parliamentary tributes, Mr Corbyn said Alex Salmond “was a good friend to lots of us”.

“He always opposed wars, he always stood up for civil liberties and for justice and his strength of character in Scotland and the wider world actually made the SNP the party it is, the formidable force it became, and it made the arguments for Scottish independence something that was cogent, realistic and understandable.

“I think we should just remember Alex Salmond lived life to the full, spoke to the full, was absolutely involved in everything he did, and was this amazing, actually very friendly force around this place. And I for one will miss him.”

Tice says Salmond was a ‘truly great man’

Richard Tice, the Reform deputy leader, recalled how Alex Salmond was “so generous with his words of wisdom, advice and encouragement”.

He recalled a “hearty, inspired debate” with Mr Salmond and said: “It was one of the rare moments when we enjoyed losing because we lost to a truly great man.”

Jeremy Hunt: Labour is about to break its manifesto pledges

It's obvious to most people that raising National Insurance would breach Labour's manifesto pledge to...not raise National Insurance! https://t.co/KFj67bduPD

— Jeremy Hunt (@Jeremy_Hunt) October 14, 2024

Frontbenchers remember Alex Salmond

Ian Murray, the Scotland Secretary, and John Lamont, his Tory shadow, have also paid tribute to Alex Salmond.

Mr Lamont said the former first minister - who died on Saturday aged 69 - was “passionate, formidable, impressive and hugely charismatic”.

“We can all respect his dedication to public service... Alex Salmond was undoubtedly a giant in Scottish and United Kingdom politics.”

Mr Murray recalled Mr Salmond “constantly chuntering and bantering” and his “love of lively discussion”.

“It is impossible to overstate the impact Salmond had on Scotland and politics... whether you agreed or disagreed with his political objectives, there is no denying the commitment and vigour with which he pursued [those].”

Stephen Flynn pays tribute to Alex Salmond

Stephen Flynn, the leader of the SNP at Westminster, raised a point of order to pay tribute to Alex Salmond, the former first minister of Scotland who died on Saturday.

“He gave us back the hope that things would get better and get better quickly,” Mr Flynn said.

“Alex gave all of us in the SNP the belief that what we felt in our hearts was worth fighting for, the belief that we could one day become an independent nation and Alex Salmond took us so very close to making that belief a reality.

“At this time of profound shock and sorrow, Mr Speaker, I send my heartfelt condolences to his wife Moira, his wider family, his friends and his legion of fans across the nationalist movement and within the Alba Party itself.

“It’s of great personal sorrow to me that Alex Salmond will not live to see Scotland become an independent nation. The challenge for all of us now in the nationalist movement is that we make good his legacy and we deliver the future that he so boldly fought for.”

Coming up

John Glen, the shadow paymaster general, will ask an urgent question in Parliament about the freebies scandal in around 10 minutes’ time.

Tories: Starmer is attacking wealth creators

Sir Keir Starmer and his Cabinet “do not understand business”, the Conservatives have said.

Responding to the International Investment Summit, Andrew Griffith accused the Government of “attacking wealth creators”.

“Businesses coming to London for the Investment Summit will have seen the clear signal the Labour Government has sent, more business regulation, higher taxes on jobs and investors, and Labour ministers, who do not understand business, attacking wealth creators.

“We will continue to hold the Government to account for its actions.”

John Mason expelled from SNP after ‘no genocide’ in Gaza post on X

A SNP MSP has been expelled from the party for insisting there was “no genocide” in Gaza.

John Mason, the long-serving MSP for Glasgow Shettleston, also said “if Israel wanted to commit genocide, they would have killed many many more”.

The party veteran was investigated by the SNP over the social media comments and Mr Mason said that he had now been informed that he would be expelled from the party.

He told the BBC today that he was “incredibly disappointed” by the decision but stood by his remarks, claiming there should be room for divergent views in the SNP on issues other than Scottish independence.

Daniel Sanderson has the full story

Why the West is worried Xi’s economic bazooka has misfired

China’s annual “Golden Week” is typically a time for travelling, spending time with family and tucking into festive treats like moon cakes and hairy crabs.

But this year’s festivities have included a new popular pastime among China’s population: reading up on stock market strategies and opening trading accounts.

“The last two weeks have been quite crazy,” says Gary Ng, a Hong Kong-based economist with investment bank Natixis.

“People have seen a big rally in the equity market and think they need to open a trading account because they want to start trading.”

Michael Bow, our Chief City Correspondent, has more here

Reeves: I’m confident there will be no non-dom exodus

Rachel Reeves declared she is confident that non-doms will not leave the UK despite her crackdown.

On being asked whether she felt comfortable there would not be an exodus, the Chancellor told the New Statesman’s NS podcast: “I’m confident, the UK is an amazing country where people want to be.

“And previously when taxes on non-doms have been changed you haven’t seen that flight.

“I think it’s a really important principle that if you make Britain your home you pay your taxes here… It’s not on and we will change that and we will have a proper system.”

Government announces new sanctions on Iran

The Government has sanctioned seven senior Iranian figures and frozen the assets of two organisations.

A package unveiled by David Lammy, the Foreign Secretary, targets the Iranian Space Agency, which develops technologies that can be used in ballistic missile development, and the Farzanegan Propulsion Systems Design Bureau (FPSDB), which makes parts that can be used in cruise missiles.

Also targeted are Abdolrahim Mousavi, Mohammad-Hossein Dadras, Hamid Vahedi, Mohammad Kazemi, Habibollah Sayyari, Ali-Mohammad Naini and Houssein Pourfarzaneh.

Mr Lammy said: “Despite repeated warnings, the dangerous actions of Iran and its proxiesare drivingfurther escalation in the Middle East.

“Following its ballistic missile attack on Israel, we are holding Iran toaccountand exposing those who facilitated these acts.

“Alongside allies and partners, we will continue to take necessary measures to challenge Iran’s unacceptable threats and press for de-escalation across the region.”

The rich will ‘bear the largest burden’ in the Budget, says Reeves

Rich Britons will “bear the largest burden” at the Budget at the end of this month, Rachel Reeves has said.

In an interview recorded prior to today’s International Investment Summit, the Chancellor warned it would be those with the “broadest shoulders” at the sharp end of her first fiscal event on Oct 30.

Speaking to Andrew Marr on the New Statesman’s NS podcast, Ms Reeves said: “I said during the election campaign we’re not going to be introducing a wealth tax.

“But I think people will be in no doubt when we do the Budget that those with the broadest shoulders will be bearing the largest burden.

“You saw that in our manifesto campaign. You know, non-doms, private equity, the windfall tax on the big profits the energy companies are making and putting VAT and business rates on private schools.”

Downing Street has ‘full confidence’ in Louise Haigh

The PM’s spokesman said Starmer has “full confidence” in Louise Haigh, in the wake of the P&O row.

Asked whether that was thecase, he said: “Yes, absolutely. The Transport Secretary in the run-up to the summit delivered significant investment in electric buses.

“She’s put an end to industrial disruption seen for the past two-and-a-half years that has cost the economy and commuters dearly, and she’s been driving forward reform and bringing rail services back into public ownership.”

Meanwhile, he wasn’t able to name any other regulators the Government will be looking at, besides the Competition and Markets Authority (CMA).

He said: “Beyond the CMA,we’ll set that out in due course, so I can only say for now that we’ll be seeking views on similar statements for other major regulators in the coming months.”

Greg Hands backs Kemi Badenoch

Greg Hands has thrown his support behind Kemi Badenoch to succeed Rishi Sunak.

The former Tory chairman who lost his seat at the general election in July, had not previously backed a candidate in the leadership race, which now has a final two of Mrs Badenoch and Robert Jenrick, the former immigration minister.

Writing on X, Mr Hands said Mrs Badenoch “has what it takes to lead and renew our party”, adding she was “brilliant in the Commons chamber”.

I'm backing @KemiBadenoch for Leader!

✅ I've worked closely with her and she has what it takes to lead & renew our Party

✅ takes winning in London seriously, as a former Assembly member

✅ brilliant in the Commons chamber at exposing the Government's failings@renewal2030 pic.twitter.com/GTx9zyxB7E

— Greg Hands (@GregHands) October 14, 2024

Robert Jenrick: I want head-to-head debate ‘any place, any time’

The public, and @Conservatives members deserve to see us debating the big issues of the day.

That is why I have asked for a head-to-head TV debate.

Any time. Any place. pic.twitter.com/zzB0wnNcuw

— Robert Jenrick (@RobertJenrick) October 14, 2024

No 10 plays down Musk’s summit absence

Downing Street sought to play down the absence of Elon Musk from today’s International Investment Summit.

“I think the Business Secretary talked about this yesterday,” Sir Keir Starmer’s official spokesman told reporters.

“This summit is not about focusing in on one specific people but what you can see today is 300 of the most significant investors, people who can bring capital to the UK, attending this summit which is hugely significant.”

No 10 points to budget ‘black hole’ amid NI rise fears

The Prime Minister’s official spokesman cited what the Government says is a £22bn black hole in the public finances as he was asked about a potential increase in employers’ National Insurance on Oct 30.

“I can’t get into speculation on the Budget and you’ve got language from the Business Secretary over the weekend.

“Ultimately the Government uncovered a £22bn black hole in the public finances which will require difficult decisions to fix the foundations of the economy so we can rebuild Britain and make every part of the country better off.

“But of course we remain committed to a manifesto which says we will make sure taxes on working people are kept as low as possible, and there will be no rise in their income tax, National Insurance or VAT.”

No 10 declines to be drawn on Swift row

Downing Street declined to be drawn on the ongoing row over Taylor Swift’s blue light escort and the reported involvement of the Attorney General in the decision.

The Prime Minister’s official spokesman said: “You’ll appreciate that when it comes to the Attorney General, as he’s the chief legal adviser of the Government we do not provide commentary on the advice he may or may not have given.

“As the Met have said the Met is operationally independent.”

Downing Street rules out slavery reparations

Downing Street has ruled out slavery reparations in response to demands from Caribbean countries ahead of a major Commonwealth summit.

The Caribbean Community’s 14 member states had been expected to push Keir Starmer on the issue at next week’s Commonwealth Heads of Government Meeting (Chogm) in Samoa.

But Sir Keir Starmer’s official spokesman confirmed on Monday that there would be no cash from the Government for countries wanting compensation relating to Britain’s colonial past.

Asked about calls from countries including Barbados, the spokesman said: “Just to be clear, reparations are not on the agenda for the Commonwealth Heads of Government meeting.

“Secondly, the Government’s position has not changed. We do not pay reparations.”

Calls for slavery reparations will be handled ‘sensitively’, says minister

Labour will be “sensitive” in its handling of demands for slavery reparations, the Science Secretary has said.

Peter Kyle said that demands by Caribbean countries for billions of pounds from Britain presented “very tricky diplomatic challenges” in the lead-up to a Commonwealth summit next week.

The Caribbean Community’s 14 member states are expected to push Sir Keir Starmer on the issue at next week’s Commonwealth Heads of Government Meeting (Chogm) in Samoa.

Lawyers and academics have claimed the overall bill owed by Britain for its part in the slave trade could be worth anything between £206 billion and £19 trillion.

You can read the full story here

Analysis: Starmer shook off his Eeyore disposition

After struggling to weather the stormsof his first 100 days, Sir Keir Starmer attempted to change the political weather as he told business leaders it is morning again in the United Kingdom.

As the Prime Ministerspoke at the Guildhallthis morning to kick off his flagship International Investment Summit, the tone was almost unrecognisable from the doom and gloom of recent weeks.

Starmer told delegates “this is the moment to back Britain” as he ran through a four-pronged pitch to prospective investors, joking he had committed “CEO heresy” by having four areas of focus instead of three. He said Labour had a“golden opportunity” to achieve stabilityand end “the culture of chop and change”.

The ghost at the fiscal feast, however, remains the first Budget of the new regime at the end of this month. Jonathan Reynolds, the Business Secretary, did little to quash fears among businesses when he confirmed yesterday thata raid on employers’ National Insurance(NI) contributions is on the table.

While he let the light in more than usual, Starmer hinted at difficult decisions to come as he said: “We’ve got our problems, of course we have. As I said our public services need urgent care, our public finances need the tough love of prudence. Challenges we cannot ignore because we know just as every leader here knows that those early weeks and months are precious.”

Even after his Eeyore-like disposition during his first three months in office, Starmer shrugged off the gloom to make the case that there has never been a better time to invest in Britain in recent decades. He will now have to hope businesses agree.

Gambling stocks lose nearly £3.5bn over Reeves tax raid fears

Nearly £3.5bn was wiped off the value of British gambling companies in early trading today amid reports that Rachel Reeves is planning a £3bn tax raid on the industry, Chris Price and Tim Wallace report.

Gambling stocks plunged in London as investors were shaken by worries about how the Chancellor might fill the £22bn “black hole” in the public finances in her Budget later this month.

Shares in Ladbrokes-owner Entain sank by as much as 15.3pc, while Grosvenor casinos operator Rank Group plunged 6.7pc. William Hill owner Evoke plummeted by as much as 16.2pc.

Shares in New York-listed Flutter Entertainment closed down 8.8pc on Friday, wiping $3.6bn (£2.8bn) off its market value after the report first emerged. Its London-listed shares sank as much as 8pc on Monday, lowering its market valuation by another £2.6bn.

It follows reports that Ms Reeves could double some of the taxes levied on online casinos and bookmakers in the Budget.

Red tape is ‘killing’ Britain, says Google boss

A business leader warned Sir Keir Starmer he will fail to meet his 2030 energy goal unless he fixes the “delay” in British regulation which is “killing you”.

Eric Schmidt, a former Google boss, told the Prime Minister in a Q&A at the International Investment summit: “Democracies, especially something as old as this one, have so many ways in which people can say no. I’d much rather - and I think the business community would much rather - have a single person who can say yes or no... and then they can move on.

“The cost of capital and the delay is killing you, and furthermore you’re not going to achieve your 2030 energy goal, which is laudable, without fixing this.

“You have a tactical leadership problem to achieve this and I think you can pull it off, but you have to figure out a way to get control.”

Sir Keir replied: “I think this is a really big challenge. It has to be a cross-Government priority, not just within the Treasury team.”

Keir Starmer: We need to ‘run towards’ possibilities of AI

Sir Keir Starmer said in the next five to ten years there would be “incredible change” on artifical intelligence (AI).

“I think one of the most important things for the Government is the posture. Are we leaning in and seeing this as an opportunity, as I do, or are we sort of leaning out, saying this is rather scary, we’re going to regulate it, which I think would be the wrong approach.

“Obviously there’s always a question of balance but what’s your primary posture really matters on AI. It is a game changer that has massive potential on productivity and on driving our economy and we need to run towards it.”

Planning decisions are taking far too long, Starmer says

Sir Keir Starmer said: “It takes far too long to get decisions on planning, measured in years not months, and we’ve got to streamline that.”

On regulation, he added: “I’m not saying all regulation is bad but the sheer volume that we’ve got here, and the inconsistency, means it’s not just the volume of regulation, there’s also not a clear landing path for investment.

“That is one of the other things we’ve got to strip away as well.”

Sir Keir said his majority gave him “a good opportunity to do things that have been put in the ‘too difficult’ column”, adding: “Anybody who’s ever been involved in investment in an infrastructure project will know planning is a problem.

“Until now you’ve had a mindset in politics which is, let’s put that in the ‘difficult’ box because it raises too many issues. Everyone knows that regulation actually needs to be streamlined and made fit for purpose, but again too dangerous to deal with, let’s put it in the ‘too difficult’ box. I think now is the time to absolutely grasp these things.

“This has to be a partnership between a mission-driven Government and the private sector. But what’s important in a partnership is that investors and Government don’t try to do the same thing.”

Starmer: Judge me in years, not months

Sir Keir Starmer said economic growth would be a “yardstick” for his Government’s policy decisions, which he said should be measured “in years not months”.

“There are a number of components that I think are important and you can almost sort of work down through them. The first is to be clear with everyone in this room and beyond that this is a Government that is mission-driven, that has a driving sense of purpose and that the number one mission is economic growth.

“And everything else ladders up to that. I think one of the biggest mistake of governments particularly recent ones here has been too much focus on short-term, too much focus on chop and change, too much what I call sticking plaster politics.

“So you have a Government with strategic long-term vision, which is around a very clearly defined mission. And that helps with strategy, strategic thinking, but it also helps with priority. All governments need to prioritise.

“This gives us a yardstick if you like, which is, is it pro-growth, in which case yes, or is it not pro-growth, in which case no.”

Starmer hits out at ‘inertia’ over wind farms

Sir Keir Starmer gave the East Anglia Two wind farm as an example of “inertia” in Britain.,

“Now this is a £4bn investment, 1 gigawatt of clean energy, an important project, absolutely.

“But also the sort of thing a country as committed to clean energy as we are needs to replicate again and again. Now regulators demanded 4,000 planning documents for that wind farm.

“Not 4,000 pages, 4,000 planning documents. And then six weeks after finally receiving planning consent it was held up for a further two years by judicial review. As an investor when you see that kind of inertia, you don’t bother, do you? And that in a nutshell is the biggest supply side problem we have in this country.”

Prime Minister: We need the ‘shock and awe’ of investment

Sir Keir Starmer took aim at “inertia” in the regulatory regime as he said it was time to make red tape “fit for the modern age”.

“We will march through the institutions and make sure that every regulator in this country, especially our economic regulators, take growth as seriously as this room.

“Tell me about your frustrations, speak to my team... Everybody knows the importance of a team and we’ve got one here.”

He added: “We’re determined to lead the way on growth, determined to get Britain building, determined to get our economy moving through the shock and awe of investment. That’s the message to take home today.

“When the big decisions are made, when you go back to your boardrooms and ask where does our money go, where do our jobs go, where does our investment go for a better future? Let me offer you a new answer. It’s time to back Britain.”

Starmer: This is the moment to back Britain

Sir Keir Starmer told delegates “this is the moment to back Britain” as he ran through four crucial areas in his pitch for investing in Britain, joking it was “CEO heresy” to have four points not three.

He said Labour had a “golden opportunity” to achieve stability and end “the culture of chop and change”, vowing “a mission-led mindset that thinks in years, not the days or hours of the newsroom”.

Turning to strategy, Sir Keir said Britain was “building a more strategic architecture for growth” through measures such as the National Wealth Fund and Great British Energy. Sir Keir said Britain was “not in the business of picking individual winners” but would make sure that the pitch was rolled for “clear and comfortable” change.

Ministers will be required to publish list of freebies to public (2)

The Prime Minister said the previous Government had “needlessly insulted our closest allies”, saying: “Well, no more. We’ve turned the page on that decisively and we will use that reset for growth.”

Fourth and finally, Sir Keir said he did not see regulation “as good or bad”, insisting some was necessary. He said the test of regulation was whether “the builders or the blockers” would be enabled as a result.

Keir Starmer: We will run towards the fire to put it out

“It’s not just that you lead some of the most important businesses in the world, it’s also because you’re pivotal to this great cause of our times. And the reason we are focusing so much on investment is because the mission of growth in this country in particular demands it.

“Private sector investment is the way we rebuild our country and pay our way in the world. And make no mistake, this is a great moment to back us. This is a great moment to back England, Northern Ireland, Scotland and Wales.

“We have an amazing education system that produces some of the greatest talent in the world, the largest tech sector in Europe, leading positions in some of those great industries in the future, artificial intelligence, life sciences, clean energy, the creative industries. We’re a country where businesses thrive, small and large alike.

“Clear regulatory frameworks and protection. A legal system that sets high standards around the globe. A location that means we can speak to our colleagues in the Americans and Asia in the same day. A high ranking in the global innovation index every year. Our wonderful global language. Our wonderful sport and culture. This great modern city... A heritage steeped in modern trade. A set of shared values, centuries-long, of being a country that is open for business.

“You can’t put a price on any of this. We’ve got our problems, of course we have. As I said our public services need urgent care, our public finances need the tough love of prudence. Challenges we cannot ignore because we know just as every leader here knows that those early weeks and months are precious. And no matter how many people advise you to ignore it, that you must run towards the fire to put it out, not let it spread further.

“So we will fix our public services, we will stabilise our economy and we will do it quickly. Because we don’t want any of the problems associated with our inheritance misting up the shop window of Britain.”

Keir Starmer: Growth is critical to finding ‘calmer waters’

Sir Keir Starmer said growth was “higher wages, a more vibrant High Street, public services back on their feet, less poverty, more opportunity, more meals out, more holidays, more precious moments with your family, more cash in your pocket”.

“Of course for any business it means a bigger market, higher demand, a more secure and prosperous future. Your effort and enterprise rewarded in profit.

“But it is much more important even than all that, we live in an age where political fires rage across the world. Conflict, insecurity, a populist mood that rails against the open values so many of us hold dear. Values which, as you know, are so crucial for making business easy to do.

“And yet at the same time look around the world. Look at the investments you and others are making. This is an age of great possibility as well, huge revolutions in digital technology, in clean energy, medicine, life sciences. Each with the potential to fundamentally change the way we live and the way that we work. Each with the possibility to transform the lives of working people for the better.

“And so in times like this economic growth is vital, as it’s always been, if we’re to steer our way through a great period of insecurity and change and on to calmer waters. Because when working people benefit from that growth, when every community enjoys the fruits of wealth creation, it stops a country turning in on itself and against the world. And that in turn helps provide a stable foundation, breathing space for a country to take advantage of those opportunities for a better future... It’s not just that stability leads to growth, it’s also that growth leads to stability.”

Starmer kicks off speech at International Investment Summit

Sir Keir Starmer thanked attendees at the International Investment Summit as he started his speech.

“Some of you I know have come a very long way to be here, travelling a great distance, some of you will be travelling straight back out again afterwards,” Sir Keir said.

“You’ve made a huge effort to share with us the precious gift of your time and we’re very, very grateful for that.”

Speaking at the Guildhall, Sir Keir recalled how he “pursued a fleeting ambition to play the flute professionally” at the nearby Guildhall School of Music.

“Today we’re pursuing a different ambition, a shared ambition, growth. You have to grow your business and I have to grow my country. I’ll leave it to you decide if you think the voters or the shareholders are a more forgiving audience.

“But let’s just agree without growth it’s a difficult conversation whoever you’re talking to, and therefore growth is the cause which binds us together, the shared endeavour. It’s why we’ve made it the number one test of this Government and I’m determined to do everything in my power to galvanise growth, determined for this country to be the highest-growing economy in the G7. That is our most important national mission because it’s the only way to deliver the mandate for change that we won.”

Business Secretary vows ‘long-term, inclusive growth’

Jonathan Reynolds promised “long-term, inclusive and secure growth” as he spoke at the International Business Summit.

The Business Secretary said the Government’s focus would be “building long term stability, renewing our commitment to free and fair trade, cutting costs for investors and working in partnership with business and trade unions”.

Business Secretary: Britain is open for business

Jonathan Reynolds, the Business Secretary, said: “My message to you, to investors and businesses based here and abroad, is this. The UK is back, it’s back at the global table.

“Saturday marked 100 days of our new Government and with it we bring a new era of stability, of openness, of a commitment to use our mandate, to shape the business environment and remove barriers to investment.”

Mr Reynolds said the UK “respects business, wants to partner with business and is open for business”.

Coming up

Sir Keir Starmer is about to speak at the International Investment Summit.

You can follow his speech at the top of this live blog.

‘Cut the cake!’: Jenrick marks 99th anniversary of Thatcher’s birthday

Robert Jenrick marked what would have been Margaret Thatcher’s 99th birthday with Conservative members in Romford yesterday:

Celebrating what would've been Margaret Thatcher's 99th birthday. pic.twitter.com/74V1R9mMeT

— Arman Gevorgyan (@Arman_GBR) October 13, 2024

Meet and greet

Ministers will be required to publish list of freebies to public (3)

Have your say: Badenoch or Jenrick?

Kemi Badenoch and Robert Jenrick are fighting it out to succeed Rishi Sunak as the next Tory leader.

The result of the contest will be announced on Nov 2, with the shadow housing secretary and former immigration minister hitting the campaign trail hard in the meantime as they seek to win over the true blue faithful.

Would you rather see Mrs Badenoch or Mr Jenrick become leader of the opposition? Have your say below.

Labour will be ‘sensitive’ in handling slavery reparation demands

Labour will be “sensitive” in its handling of demands for slavery reparations, the Science Secretary has said.

Peter Kyle said that demands by Caribbean countries for billions of pounds from Britain presented “very tricky diplomatic challenges” ahead of a Commonwealth summit next week.

The Caribbean Community’s 14 member states are expected to push Sir Keir Starmer on the issue at next week’s Commonwealth Heads of Government Meeting (Chogm) in Samoa.

Lawyers and academics have claimed the overall bill owed by Britain for its part in the slave trade could be worth anything between £206 billion and £19 trillion.

Asked about the expected demands, Mr Kyle told LBC’s Nick Ferrari: “These are very, very tricky diplomatic challenges that we have as a country because of our legacy. We are focused on the future.”

He added: “These are very tricky historical ties that we have which means we need to deal with them with all sensitivity. Sensitivity does not involve me as a Science Secretary discussing it openly and negotiating with you.

Robert Jenrick: Labour will break manifesto tax pledge

This is the strongest indication yet that Labour will break another manifesto pledge. All tax is ultimately paid by working people.

The prospect of this tax on jobs is already scaring away investors.https://t.co/orFYWQ1FFV

— Robert Jenrick (@RobertJenrick) October 14, 2024

Labour’s tax on jobs ‘will scare away business’

A Labour raid on employers’ National Insurance (NI) contributions would threaten jobs and damage investment in the UK, business leaders have warned.

They intervened after a senior Cabinet minister gave the strongest hint yet that the Government could increase employers’ NI contributions in the Budget on Oct 30.

Jonathan Reynolds, the Business Secretary, insisted Labour’s manifesto commitment not to raise NI did not include employers’ contributions but referred only to “taxes on working people”.

But senior Conservatives including Robert Jenrick, the Tory leadership contender, branded the move a “tax on jobs” and said it was a clear breach of Labour’s pre-election promises.

Charles Hymas, Tim Wallace and Michael Bow have the lowdown

Cabinet minister declines to say if Musk was invited

Asked three times whether Elon Musk was invited to today’s International Investment Summit, Peter Kyle told BBC Radio 4’s Today programme: “Let me explain how these things work. We are out there inviting people to come to this summit who are already open to investing and they have investment programmes that are underway.

“Elon Musk would have been very, very welcome if he had an investment programme if we could have latched on to.”

Mr Kyle added: “When Keir Starmer stood up and said that it’s country first with him, it always will be. He is a grown up politician who puts the country’s interests first.

“We would love to engage with Elon Musk. If he wants to open up an investment programme and there is global competition for it, believe me we will be first in line and I will be first in line trying to get that investment here.”

Peter Kyle rules out single market return

On being asked about the prospect of getting closer to the single market, which Nick Robinson suggested may be “the brave thing to do”, Peter Kyle told BBC Radio 4’s Today programme: “No, what we can do is fully explore our potential as two territories that have to look forward to our future.

“Lots of barriers we have to overcome as two separate territories simply weren’t around in 2016 when Brexit happened. We’re looking at a trade a deal that explores all of the opportunities going forward.”

Britain needs to regulate ‘smartly’, says Cabinet minister

Peter Kyle was asked if he would regulate less than the EU to make Britain more attractive.

“I would say that you need to regulate smartly, and you need to regulate creatively and that’s what we’ve done just last week,” he told BBC Radio 4’s Today programme.

“You don’t have to cut corners to get innovation through the regulatory landscape. The great thing about innovation in this day and age is that it crosses so many sectoral boundaries.”

Peter Kyle: We can learn from Covid fast-tracking

The Science Secretary pointed to the Regulation Innovation Office as a means by which Britain will cut red tape.

“If there is an innovation which can benefit the health of the nation, can benefit economic growth, why do we just let it get mired down?

“Let’s take the learning from crisis times and apply it to normal times.”

Science Secretary refuses to rule out ban on TikTok

Peter Kyle refused to rule out a ban on TikTok.

“These are things that we are actively exploring to see ways that we can have more teeth, to enforce these issues.

“I have nothing off the table, everything is on the table when it comes to keeping young people safe, and I am looking at the powers we might need to do so when it comes to the future.

“But we need to ensure that products released into our society, because it’s a privilege to release products into our society, have safety baked in at the start.”

Asked whether a ban was on the table, Mr Kyle said: “When it comes to the safety of people who live and work and use the online world here in this country, nothing will ever be off the table.

“But I want to work constructively with these companies, that’s what I am doing, I want to make sure that they take the measures that they need to.”

Peter Kyle: ‘Brilliant’ Chagos deal was ‘in Britain’s best interests’

Defending the Chagos Islands deal, Peter Kyle told LBC: “That actually was in Britain’s best interests because we secured our base there for the next 100 years with a clause in that 100 years to renegotiate it into the future.

“We were heading to a situation where we were losing the legitimacy we needed to retain that base into the future. We were losing court cases, or on the cusp of losing court cases. What we did was negotiate a brilliant deal where we can secure the future of our military base there.”

Ministers will be required to publish list of freebies to public (4)

On whether the islanders should have been involved, he said: “We negotiated and we dealt with the sovereign state that does have historic ties to the Chagos Islands. These are really difficult situations and we know that in difficult situations you’re not going to be able to please everybody.

“But we did what we believe is best for the islanders, for the region, for global politics, geopolitics, because once again Britain is seen as a place that respects international law, and we did what it took to secure the military base there in the strategic interests and the security interests not just of Britain but of the global community and our strategic allies as well.”

Mr Kyle said Britain had the “cast-iron” legal right to keep its military base, adding the previous Government had “negotiated like a bull in a china shop”.

I have full confidence in Louise Haigh, says Peter Kyle

Peter Kyle was asked if he had full confidence in Louise Haigh, the Transport Secretary.

He told LBC’s Nick Ferrari: “I do. Look, you and all the rest of us had a lot of things to say about P&O back then.

“But last week we introduced workers’ rights legislation which P&O and its parent company DP World signed up to... We hope they will commit another £1bn to investment in this country.

“When you work constructively with companies you might have had difficulties with in the past, they can go on that journey too.”

Pressed on how he would describe P&O Ferries now, Mr Kyle said: “I would describe them as a company that’s on a journey, just like we as a country are on a journey.”

P&O Ferries has turned a corner, insists Peter Kyle

Peter Kyle, the Science Secretary, was asked by Sky News about the row involving P&O Ferries.

“Back then when P&O made those sackings, I spoke out about it and I think the country was appalled too. But we’ve all turned a corner since that time. Just last week we introduced workers’ rights legislation which includes maritime activity too and P&O and its parent company DP World signed up to it.

“That means we’re looking to the future, DP World are here today, that £1bn worth of investment is going forward and I’m really pleased about that. We can all turn a corner at the time, that’s what we’ve done with a changed election, with a new Labour Government, and DP World is coming on that journey too and we’re really pleased about that.”

Ministers will be required to publish list of freebies to public (5)

Asked what P&O had done to change, Mr Kyle said: “Well, they’ve signed up to the new legislation which will protect workers... We have introduced legislation that would stop that ever happening again, and they have signed up to it.

“You can have higher standards and you can create the circumstances where people want to invest in our country. That’s what we’re seeing again, Britain is open for business again... There is no competition between high standards and potential investment in our country. That’s what you see here today and that’s what you’ll see us harnessing, capturing and putting to benefit for people from every background.”

Labour: We never said tackling small boats would be easy

The Government is getting the “fundamentals in place” to tackle the small boats crisis, the Science Secretary insisted.

“Over the summer we have set the Border Security Force, we have appointed the chair for it, we are bringing in all of the powers that’s needed to tackle it,” Peter Kyle told Sky.

“And also you saw Yvette Cooper spending a lot of time over on the continent meeting her colleagues over the summer and at the G7 meeting there was a lot of conversations just last week about it.

“We are doing what we need to get the fundamentals in place to get the rules and investment where it’s needed to tackle this issue. We will tackle this issue, we never said it could be done quickly, we never said it would be easy, and the last Government put all of its stock into a gimmick that would never work.”

Peter Kyle: We’re getting the fundamentals right

Peter Kyle was pressed on the Business Secretary refusing to rule out an increase in National Insurance for employers.

“The fact that we have £40tn worth of global assets represented by businesses coming to this country shows that we know we’re getting the fundamentals right,” he told Sky.

Asked twice more to discuss National Insurance, Mr Kyle replied: “I can’t, because the Budget is the week after next. And Kay, we shouldn’t waste time talking about something that hasn’t happened and I cannot announce at the moment because I don’t know the [detail].”

We’re making the tough choices Britain needs, says Cabinet minister

Peter Kyle was asked about the Government’s winter fuel allowance raid.

Mr Kyle told Sky: “We’re doing the hard things that need to be done to get the economy back on track.

“And next year pensioners will still be getting more money in their pocket than they are this year. We are making sure that pensioners will be okay overall, but as I say we have to take those difficult decisions to get the country back on its feet again.

“And once we have, we can start investing properly again and get over the difficult years of low growth, high tax, poor public services and mismanagement of our country.”

Peter Kyle: Musk absence nothing to do with ‘two-tier Keir’ jibe

Peter Kyle, the Science Secretary, is speaking to Sky News from the International Investment Summit.

Asked why Elon Musk had not been invited, Mr Kyle said: “Elon Musk has never been to any of our investment summits under the previous government. What we are trying to do is get those companies who are already actively looking to make those investments around the world, and we’ve been engaging with them and getting them here.

“You’ll be pleased to know though that there are £40tn of global assets that will be represented here in London today, looking for destinations to invest their money. That’s the whole point of today.

“We’re showcasing our country, we’re showing the Prime Minister, the Chancellor, the whole Cabinet... We want to showcase the best of Britain and get that investment to every part of the United Kingdom, benefiting every single person who lives around the country wherever they’re from.”

On whether Mr Musk was not coming because he called the Prime Minister “two-tier Keir”, Mr Kyle replied: “Absolutely not. Our Prime Minister puts the country first, party second, he’s said that numerous times. We want to make sure people from around the world understand that we are a Government that is open for business.”

What’s on the agenda today?

Sir Keir Starmer will vow to rip up red tape that “needlessly holds back investment” as he addresses the International Investment Summit this morning.

The Prime Minister is to deliver a keynote speech at 10.05am before taking part in an ‘in conversation with’ event with Eric Schmidt, the former CEO and executive chairman of Google.

The summit represents a chance for Sir Keir to begin to change the political weather after a stormy first 100 days.

The build up to the event has been overshadowed by a row involving Louise Haigh, the Transport Secretary, whose description of P&O Ferries owner DP World as a “rogue operator” almost came at the cost of the firm’s £1bn investment.

Starmer removes paintings of Elizabeth I and Sir Walter Raleigh

Sir Keir Starmer has taken down portraits of Elizabeth I and Sir Walter Raleigh that were on display in Downing Street, The Telegraph can reveal.

The paintings of the last Tudor monarch and the famous explorer of the Americas were previously on the walls of a room used for prime ministerial meetings with world leaders.

Both have now been replaced with scenes from Crivelli’s Garden, a mural by Dame Paula Rego, the late Portuguese-born artist, whose work focuses on “strong and courageous women”.

It comes after Sir Keir faced critism when it emerged he had also removed portraits of William Ewart Gladstone and Margaret Thatcher.

You can read the full story here

Starmer vows to rip up red tape

Sir Keir Starmer will pitch for businesses to come to Britain today by pledging to rip up red tape that “needlessly holds back investment”, write Charles Hymas and Tim Wallace.

The Prime Minister will set out the Government’s stall to woo foreign investors in a keynote speech at a showpiece international conference in London. Deals worth billions in AI, life sciences and infrastructure are expected to be announced.

Business Secretary Jonathan Reynolds was yesterday (Sun) able to publicly confirm that the Dubai-based owner of P&O ferries will go ahead with its £1 billion port investment. It had threatened to reconsider its plans after Transport Secretary Louise Haigh branded the ferry company a “rogue operator.”

Mr Reynolds admitted the Government had to “have a conversation” with DP World, the owner of P&O, to persuade it to go ahead. Both Sir Keir and the Business Secretary distanced themselves from Ms Haigh’s comments, to the fury of her allies who felt she had been “scapegoated.”

Curtice: Badenoch and Jenrick can’t save the Tories

Neither Kemi Badenoch nor Robert Jenrick can reverse Tory fortunes following their historic election defeat, Britain’s foremost polling guru has predicted.

Professor Sir John Curtice suggested the final two Conservative leadership candidates would not be able to win over the public or unite the Right after millions abandoned the Tories for Reform UK.

In an article for The Independent, Sir John said: “In short, despite their ideological stance, neither Mrs Badenoch nor Mr Jenrick is necessarily well set to heal the electoral divide on the right.”

The election expert argued that neither Mrs Badenoch nor Mr Jenrick had “an adequate understanding of why their party suffered its worst ever electoral result in July”.

Sir John continued: “Still, as largely unknown quantities, perhaps either Mrs Badenoch or Mr Jenrick will prove able to surprise us – though in order to do so, they are both certainly going to have to reveal a wider range of political talents than they have so far.”

Good morning

Dominic Penna here, The Telegraph’s Political Correspondent, guiding you through another day in Westminster.

Ministers will be required to publish list of freebies to public (2024)

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