News story: Mark Carney’s term extended and Sir Jon Cunliffe re-appointed at the Bank of England

Mark Carney and Sir Jon Cunliffe

Mark Carney, Governor of the Bank of England will remain in his role until 31 January 2020, the Chancellor announced today (11 September 2018). The extension was agreed in an exchange of letters between the Governor and the Chancellor published this morning. Sir Jon Cunliffe, Deputy Governor of the Bank of England with responsibility for Financial Stability has also been re-appointed, effective from 1 November 2018.

Commenting on the extension of Mark Carney’s time as Governor, the Chancellor said:

I’m delighted that the Governor has agreed to stay in his role for a further seven months to support a smooth exit from the European Union and provide vital stability for our economy.

Commenting on the re-appointment of Sir Jon Cunliffe, the Chancellor said:

I’m delighted to announce the re-appointment of Sir Jon Cunliffe for a further term as Deputy Governor, and I’m confident his extensive experience will continue to be a valuable asset to the Bank of England.

Further Information

  • The letters between the Governor and the Chancellor are available here.

  • The reappointment of Sir Jon Cunliffe was made by the Queen on the advice of the Prime Minister and Chancellor.

  • Sir Jon’s term will last until October 2023.

  • Sir Jon leads the Bank of England’s work on financial stability. He is a member of the Financial Policy Committee (FPC), the Monetary Policy Committee, the Board of the Prudential Regulation Committee and the Bank’s Court of Directors. Further information can be found here.

  • The Bank of England is the central bank of the UK. It is governed by a board of directors known as the Court of Directors. Further information can be found here.

Published 11 September 2018



News story: Welsh Secretary marks Aston Martin’s investment in zero emission vehicle manufacturing at St Athan site

Welsh Secretary Alun Cairns has today welcomed the announcement that Aston Martin will invest a further £50 million at its new St Athan facility in Wales, which will become its centre for electrification and the home of the Lagonda brand. The investment will create an additional 200 jobs at the site and, in total, the new plant will bring up to 750 high skilled jobs to South Wales.

The announcement comes on the day that the Prime Minister outlines the UK Government’s ‘ambitious mission’ to put the UK at the forefront of the design and manufacturing of zero-emission vehicles during her keynote address at the country’s first ever Zero Emission Vehicle (ZEV) Summit in Birmingham.

Marking the announcement from Aston Martin today, Secretary of State for Wales Alun Cairns said:

This announcement comes as a huge boost to those based at Aston Martin’s new state of the art manufacturing facility in St Athan, and I’m delighted that the skills and talents of a Welsh workforce will be delivering the high quality products that this flagship British brand is renowned for across the world.

The UK Government’s mission is to put the country at the forefront of the design and manufacturing of zero emission vehicles. The fact that a company with a reputation that spans the continents, is choosing Wales as the centre of excellence for its electrification programme is a ringing endorsement of what our nation has to offer to the automotive sector, and I look forward to seeing the innovation come to life in the months and years ahead.



News story: Welsh Secretary marks Aston Martin’s investment in zero emission vehicle manufacturing at St Athan site

picture of Aston Martin Car in front of jets at Aston Martin
picture of Aston Martin Car in front of jets at Aston Martin

Welsh Secretary Alun Cairns has today welcomed the announcement that Aston Martin will invest a further £50 million at its new St Athan facility in Wales, which will become its centre for electrification and the home of the Lagonda brand. The investment will create an additional 200 jobs at the site and, in total, the new plant will bring up to 750 high skilled jobs to South Wales.

The announcement comes on the day that the Prime Minister outlines the UK Government’s ‘ambitious mission’ to put the UK at the forefront of the design and manufacturing of zero-emission vehicles during her keynote address at the country’s first ever Zero Emission Vehicle (ZEV) Summit in Birmingham.

Marking the announcement from Aston Martin today, Secretary of State for Wales Alun Cairns said:

This announcement comes as a huge boost to those based at Aston Martin’s new state of the art manufacturing facility in St Athan, and I’m delighted that the skills and talents of a Welsh workforce will be delivering the high quality products that this flagship British brand is renowned for across the world.

The UK Government’s mission is to put the country at the forefront of the design and manufacturing of zero emission vehicles. The fact that a company with a reputation that spans the continents, is choosing Wales as the centre of excellence for its electrification programme is a ringing endorsement of what our nation has to offer to the automotive sector, and I look forward to seeing the innovation come to life in the months and years ahead.

Published 11 September 2018



Press release: July figures show UK exports remain at record high

In data released by the Office for National Statistics (ONS) on Monday 10 September, UK exports to the world rose by £30.9 billion – an increase of 5.2% compared to the same time last year. Other main points from the release include:

  • The country’s renowned service sector continues to thrive with exports up 3.9% to a record high of £283.4 billion, increasing the service surplus to £117.1 billion

  • Goods exports also rose strongly by 6.2% to £345.9 billion

  • On a rolling annual basis, annual exports continue to grow faster than imports for the twelfth consecutive month, with the overall trade deficit narrowing by £13.8 billion in the year to July 2018

The news comes after the launch of the Export Strategy last month, which sets out a new ambition to increase exports as a proportion of UK GDP to 35%, making the UK one of the G7’s most successful exporters.

International Trade Secretary Dr Liam Fox MP said:

Today’s trade figures show demand for UK goods and services is continuing to grow, as overall exports rose to £629.3billion – up 5.2% on this time last year – and the trade deficit continued to narrow by £13.8bn over the last 12 months.

As we open consultations for future trade relationships with key markets around the world, we’re seeing the UK shift towards selling more than we buy, with exports increasing faster than imports. My international economic department will continue work with companies across the country to ensure they’re making the most of global opportunities.

Separate figures released by the ONS in June showed UK exports of goods and services to non-EU countries amounted to around £344 billion in the 12 months ending March 2018, showing the worldwide demand for British goods and services remains. Exports to EU countries were around £276 billion in the same period.

Overall, exports of goods and services to non-EU countries have nearly trebled since 2000 – exports of goods and services to EU countries by comparison have nearly doubled. The UK also operates a trade surplus of more than £40 billion with non-EU countries, with this having been a deficit as recently as 2010.

In 2017, 8 of the 10 fastest growing markets for UK exports since 2010 were outside of the EU (figures include only countries with more than £1 billion in export value in 2017, and exclude Crown Dependencies and Gibraltar). Exports of services to the key non-EU markets of USA, China and Japan have all increased by more than 45% since 2010.

The UK’s current account deficit also narrowed to £79 billion in 2017, down by £24 billion from 12 months earlier. This is the narrowest deficit as a percentage of GDP since 2012.

Further information

View the latest ONS statistics on UK trade



News story: IPO top employer for working families

Intellectual Property Office

The Intellectual Property Office (IPO) was named as one of the UK’s top 10 employers for working families today. The Top Employers for Working Families 2018 award recognises organisations that lead the way in creating flexible, family friendly workplaces.

We understand flexible working schemes bring benefits to our people and the business. Home working, flexible hours and shared parental leave are all available at the IPO. Support networks and staff counsellors are also on hand to provide support.

Dominic Houlihan, Director of People, Places and Services, IPO said:

The IPO is a great place to work. We are committed to the physical and mental wellbeing of our people. This includes policies that support our people to balance work and family life. An environment where people can meet their full potential is also one which delivers for customers. We retain valuable skills and are better able to respond to changes in the business environment.

The IPO also made it to the top ten in 2017. The award is run by Working Families, the UK’s leading work-life balance organisation. The charity helps working parents, carers and employers achieve a better balance between responsibilities.

If you’re interested in working at the IPO, search for jobs on the civil service vacancy website.

Published 11 September 2018