“Rishi Sunak has announced a multi- billion pound deal with Japan and Italy to build the next-generation supersonic fighter jet. The prime minister said the landmark deal would allow the UK to gain a technological advantage over China and Russia, adding that the threats posed by hostile states in the Pacific and Europe were “indivisible”. The UK will partner with Japan and Italy to create the sixth-generation Tempest fighter jet, which can be flown both autonomously and with a pilot.The plane…is likely to be fitted with sophisticated weaponry, including hypersonic missiles, aerial drones and laser cannons. Artificial intelligence will enable pilots to communicate with other assets on the ground or at sea, as data collected across the battlefield is uploaded to a “combat cloud”.” – The Times
“Jeremy Hunt will redraw the financial services rule book on Friday, including casting aside some safeguards designed to avoid a repeat of the 2008 crash, [to] boost the City of London as a driver of growth. The chancellor will announce a package of more than 30 reforms in Edinburgh, arguing that many of the changes are only possible because of “freedoms” gained from leaving the EU. But there will also be a relaxation of rules Britain introduced unilaterally after the 2008 crash — changes that often went further than the EU — prompting warnings that they could make the UK a riskier place to do business. Hunt is removing the cap on bankers’ bonuses, while “ringfence” rules intended to separate risky investment banking from retail operations will be relaxed to help “retail-focused banks”.” – The Financial Times
“The home secretary has urged people preparing to go abroad for Christmas and New Year to “think carefully” about their plans because of strikes. More than 1,000 members of the Public and Commercial Services (PCS) union employed by the Home Office to operate passport booths will stage two walkouts. The strike action, from December 23 to Boxing Day and from December 28 to New Year’s Eve, will affect Heathrow, Gatwick, Manchester, Birmingham, Cardiff and Glasgow airports, as well as the port of Newhaven. More than 10,000 flights are scheduled to land at the airports during the walkouts. Airlines are being told by officials to cancel up to 30 per cent of flights on strike days to prevent chaos in airport arrival halls.” – The Times
“Suella Braverman today joined forces with counterparts from across Europe to order a major crackdown on evil smuggling gangs. The ‘Calais Group’ of ministers from Britain, France, Belgium, Germany and the Netherlands met for talks in Brussels this morning, along with EU representatives. Together they agreed to “bolster” efforts to clampdown on small boat crossings…Ms Braverman said: “Countries across Europe must work closely together to tackle illegal migration and crack down on the people smugglers before these issues reach our borders. “The Calais Group have held constructive discussions today on bringing solutions that will benefit all our countries and to ensure the evil criminals who profit in human misery are targeted and brought swiftly to justice. I look forward to our ongoing cooperation.”” – The Sun
“The futility of Britain’s new coal mine in Cumbria leaves one gasping. The world’s top steelmakers are trying to rid themselves of coking coal forever.The Government has degraded this country’s diplomatic credibility for no economic purpose. It has once again damaged efforts to turn Britain into a global clean-tech hub, the real growth accelerant this decade if only they would grasp the chance. British Steel does not need or want the high-sulphur coal from the Whitehaven colliery, and Tata is unlikely to buy much for its flat-rolled plant in Port Talbot. The Australian private equity group backing the mine – EMR Capital – plans to export 83pc of the production but there is no a durable market for this in Europe either. Green steel made without coal is already a reality…” – The Daily Telegraph
>Today:
“Andrew Griffith, the City minister, has pledged that the “Edinburgh” package of post-Brexit reforms for the financial services industry will make the sector “as internationally competitive as possible”. On Friday, chancellor Jeremy Hunt will launch wide-ranging consultations on rules for financial services in order to discard EU standards…The reforms…range from loosening insurance rules under the Solvency II regime, freeing some retail banks from ringfencing their operations, and loosening EU-imposed Mifid 2 curbs on analyst research that restricted coverage of companies and deterred investors…Griffith said the proposed changes would allow the UK to “hold or take advantage of new opportunities, new innovations, new ways of making markets more liquid and effective”.” – The Financial Times
“Labour has said it would revisit the pay deal handed to NHS staff, insisting that the government should be “willing to talk” about a higher offer. Wes Streeting, the shadow health secretary, said there was a case for a higher rise than was being offered because inflation had increased since pay review bodies made recommendations…In comments that went further than his frontbench colleagues, Streeting hinted that he could support an improved pay deal. “When we are losing staff not just from social care but from the NHS to other employers because of pay, I think the government should be sensitive to that and be willing to talk,” he said. The comments draw a dividing line between Labour and the government, which said this week that the present pay offer would not be increased.” – The Times
>Today:
“Labour has pledged to introduce an immediate fast-tracking process for clearly unfounded asylum claims to clear the backlog and reduce the “inappropriate” spending on hotel accommodation for Channel migrants. The party cited Home Office figures showing that over the past year fewer than 1 per cent of 7,000 asylum claims by Albanians, who unlike other asylum seekers are not fleeing civil war in their home country, had been processed. Only 50 of them have received a decision, leaving many who cannot be deported staying in hotels at the taxpayers’ expense. More than 12,000 of the 44,000 migrants who have crossed the Channel this year have been Albanians, which has driven the backlog of asylum claims to almost 150,000, the highest level in two decades.” – The Times
“The UK’s statistics watchdog has called on the SNP to abandon its use of an “inflated” statistic that drastically inflates an independent Scotland’s green energy potential. Sir Robert Chote, the chairman of the UK Statistics Authority, revealed that the independent body is “engaging” with the SNP over its “ongoing use” of a debunked claim that Scotland has a quarter of the offshore wind resource potential in Europe. Research has shown that the figure, cited multiple times by the SNP and the Scottish government over several years, is inaccurate and based on research that excluded green energy powerhouses… Despite ministers being forced to admit that the figure was wrong, the SNP has continued to distribute it on leaflets to voters in a bid to boost support for independence.” – The Daily Telegraph