Dame Colette Bowe reappointed to the Financial Policy Committee

News story

Dame Colette Bowe has been reappointed as an external member of the Financial Policy Committee, the Chancellor of the Exchequer, Rishi Sunak has announced.

Dame Colette’s first term as an external member of the Financial Policy Committee ends on 31 August 2022. Her second 3-year term will end on 31 August 2025.

Currently a trustee of the Nuffield Foundation and the IFRS Foundation, Dame Colette is also a member of the Steering Group of the Qatar Centre for Global Banking and Finance at King’s College London. She was previously the Chairman of the Banking Standards Board (2014-2019), Ofcom (2009-14) and a board member of the UK Statistics Authority (2010-2018) and the Department for Transport (2014- 2017).

She has held multiple senior board roles across commercial and public sector institutions, including board memberships at Morgan Stanley Bank International (2005-2011), Axa Investment Managers (2012-2014) and was Chairman of Electra Private Equity (2010-2014) – among other positions. Dame Colette’s expertise extends across a wide range of areas including investment management, banking, private equity, and regulation.

She holds a PhD in economics from Queen Mary University of London and served as chairman of Queen Mary’s governing body from 2004-2009.

She is also currently a Trustee of the RC Diocese of Westminster and a governor of Highbury Grove School.

About the Financial Policy Committee (FPC)

  • The FPC is the UK’s macroprudential regulator: its objective is to protect and enhance the stability of the UK’s financial system by identifying, monitoring and addressing systemic risks.
  • The FPC has thirteen members. Six of them are Bank of England staff: the Governor, four Deputy Governors and the Executive Director for Financial Stability Strategy and Risk.
  • There are also five external members who are selected from outside the Bank for their experience and expertise in financial services.
  • The Committee also includes the Chief Executive of the Financial Conduct Authority and one non-voting member from HM Treasury.

Published 14 December 2021




Scottish Secretary comments on December Labour Market Statistics

News story

Responding to the latest ONS employment figures, Scottish Secretary Alister Jack says recovery from the pandemic remains the UK Government’s priority.

Scottish Secretary Alister Jack said:

“Today’s figures tell a positive story for Scotland, with unemployment down and the number of people on the payroll continuing to exceed pre-pandemic figures.

“Clearly, we are not yet over the pandemic, but it does suggest that our Plan for Jobs is working, helping people up and down the country find well-paid, skilled employment.

“Creating high quality jobs and ensuring recovery from the pandemic remain our top priorities. That’s why we’ve guaranteed record Barnett-based funding for Scotland and we’re giving NHS Scotland the support it needs to help tackle Covid.”

Background

Figures from the Office for National Statistics (ONS) show that the rate of unemployment in Scotland is down 4.1% from the previous three months (May-July). The level of people in employment increased quarter on quarter by a rate of 0.5p.p.

Published 14 December 2021




Gareth Davies appointed as new Second Permanent Secretary at DfT

News story

New Second Permanent Secretary at the Department for Transport, Gareth Davies brings significant experience from across government and the private sector.

The Department for Transport (DfT) Permanent Secretary, with the approval of the Prime Minister, has today (14 December 2021) announced that Gareth Davies, currently Director-General at the department, has been appointed as the new Second Permanent Secretary at DfT.

The Second Permanent Secretary will provide leadership of a number of high-profile areas across DfT including decarbonising transport.

The Secretary of State for Transport said:

I am delighted Gareth Davies has been appointed as DfT’s Second Permanent Secretary. He brings a wealth of experience from across government and the private sector. 

I look forward to working with Gareth on the key challenges for transport including decarbonisation, levelling up and ensuring transport is delivering for the travelling public every day.

Permanent Secretary for the Department for Transport Bernadette Kelly said:

Gareth’s appointment as Second Permanent Secretary is great news for the department. He has demonstrated outstanding skills in leading DfT’s international and operational work over the past couple of years and played a central part in mobilising our response to the pandemic.

In this new role, he will bring real momentum and energy to our work on the big strategic challenges facing transport in the coming decades.

Gareth Davies said:

I’m very proud to be appointed Second Permanent Secretary at the Department for Transport. We have amazing teams who have been working tirelessly to keep the country moving throughout the pandemic.

I’m looking forward to leading our work to decarbonise and improve transport for the travelling public.

Published 14 December 2021




Plan to reform Human Rights Act

  • Three-month consultation launched as new balance sought on human rights
  • Permission stage proposed to deter spurious human rights claims
  • Move to strengthen rights and restore public confidence in the system

Proposed new legislation aims to strike a proper balance between individuals’ rights, personal responsibility and the wider public interest. This would be achieved while retaining the UK’s commitment to the European Convention on Human Rights (ECHR).

Crucially, the proposed measures will restore Parliament’s role as the ultimate decision-maker on laws impacting the UK population, allowing more scope to decide how we interpret rulings from the European Court of Human Rights in Strasbourg. This will put an end to us gold plating any decisions made by Strasbourg when we incorporate them into UK law.

It will restore a common-sense approach in vital areas such the UK’s ability to deport foreign criminals, like drug dealers and terrorists, who too often exploit human rights laws to avoid deportation.

The proposals achieve this by restricting the rights available to those subject to deportation orders, strengthening the existing legal framework, or limiting the grounds on which a deportation decision can be overturned. This – alongside wider Home Office in its New Plan for Immigration – will reduce pull factors to the UK being exploited by people smugglers facilitating dangerous small boat crossings.

It is estimated that as many as 70 percent of successful human rights challenges are brought by foreign national offenders who cite a right to family life in the first instance when appealing deportation orders. This approach even proved successful in the case of a man who had assaulted his partner and paid no child maintenance to support his family.

The plans will give the Supreme Court more ability to interpret human rights law in a UK context, meaning the Government can enforce rules designed to tackle forced marriages without fear of intervention from Strasbourg.

Today’s move seeks to strengthen quintessentially British traditions – such as freedom of speech and the right to a jury trial – while ensuring the system is not open to abuse.

Deputy Prime Minister and Secretary of State for Justice, Dominic Raab said:

Our plans for a Bill of Rights will strengthen typically British rights like freedom of speech and trial by jury, while preventing abuses of the system and adding a healthy dose of common sense.

The UK will remain party to the ECHR and continue to meet its obligations under the convention and all other international human rights treaties. 

However, Ministers will ensure the UK Supreme Court has the final say on UK rights by making clear that they should not blindly follow the Strasbourg Court.  It will mean that rights are interpreted in a UK context, with respect for the country’s case law, traditions, and the intention of its elected law makers.

Proposals also include measures to introduce a permission stage which will intercept frivolous claims that sap the energy and resource of courts.

Meanwhile, greater prominence will be given to the rights to jury trial and freedom of expression – meaning the space for rigorous debate will reflect the UK’s traditions and secure its values.

The UK has a long history of defending rights – from Magna Carta in 1215, the 1689 Claim and Bill of Rights, the Slave Trade Act of 1807 to the 1918 Representation of the People Act.

This consultation seeks views on how best to guarantee that the country’s human rights framework puts rights and responsibilities alongside each other to meet the needs of the society it serves.

It follows a report from the Independent Human Rights Act Review Panel which examined how the Human Rights Act is working after 21 years in operation.

Notes to editors




Exquisite Charles II ebony longcase clock worth over £3 million at risk of leaving UK

  • The export bar is to allow time for a UK gallery or institution to acquire the piece
  • The clock was designed and made by Ahasuerus Fromanteel, the first maker of pendulum clocks in Britain, at the beginning of the golden age of English clockmaking

Valued at £3,009,000, an exquisite and rare Fromanteel longcase clock dating to 1660 is at risk of leaving the country unless a UK buyer can be found.

The earliest surviving purpose-made longcase clock, the ebony-veneered piece is a fine example of the type of clock that was the bedrock of precise mechanical, scientific and domestic timekeeping from the late 17th century well into the 20th century. Despite restorations, the majority of the clock’s case is original and the piece is an excellent early example of the architectural form of longcase clock as it developed in this period.

Ahasuerus Fromanteel, the clock’s maker, was the first to create pendulum clocks in England and gained the notice and patronage of Oliver Cromwell, during the Interregnum.

Arts Minister Lord Parkinson of Whitley Bay said:

The invention of the pendulum clock, the world’s most precise timekeeper, was a revelation in the 17th century and Fromanteel was the first maker to bring this groundbreaking technology to England.

This rare and fascinating ebony-veneered longcase clock is an important piece of our national heritage and it would be a great shame should it be sold abroad.

The Minister’s decision follows the advice of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA). The Committee agreed that it is an extremely interesting object and there is still much to understand about the clock on every level, with few of these clocks that could serve as the basis for new research.

Committee Member Pippa Shirley said:

Many of us would recognise the familiar form of the grandfather clock, and this object is the ancestor of timepieces that have been a beloved part of British households since the late 17th century. This on its own creates a powerful argument for keeping the clock in this country as part of our national heritage, but this particular example is very important for other reasons too. It was made by one of the pre-eminent makers of his time, a superb technical innovator, who alongside clockwork was fascinated by other scientific instruments, including optical lenses, who invented an early version of the fire extinguisher, and who was working at a moment when London was emerging as a leading international mercantile centre. The elegant, restrained, architectural appearance of the case with its columns, pediment and beautiful decorative gilded mounts is also important, with possible links to John Webb, the architect who was in large part responsible for the introduction of elements of classical vocabulary to building design. There are also strong connections to an important historical family through Henry Howard, Earl of Arundel, which need to be further understood. The clock offers multiple avenues for further research and understanding of this highly important field and moment in our history, all of which would be better explored if it remains in this country, as we very much hope it will.

The Committee made its recommendation on the grounds that the clock’s departure from the UK would be a misfortune because it is of outstanding significance for the study of the golden age of English clockmaking in the 17th century.

The decision on the export licence application for the clock will be deferred until 13 March 2022. At the end of the first deferral period owners will have a consideration period of 15 Business Days to consider any offer(s) to purchase the clock at the recommended price of £3,009,000 (inclusive of VAT). The second deferral period will commence following the signing of an Option Agreement and will last for four months.

ENDS

Notes to editors:

  1. Organisations or individuals interested in purchasing the clock should contact the RCEWA on 0845 300 6200.
  2. Details of the clock are as follows: Ahasuerus Fromanteel, London. Early Charles II, ebony architectural longcase clock. Height – 6 feet 1.5 inches.
  3. Provenance: Possibly acquired from the maker by Hon. Henry Howard, later 24th Earl of Arundel and 6th Duke of Norfolk; Mr Gilley (d.1935) of Wellswood Park, Torquay, house sale 1935; Walter J Iden Collection, no. 3014 & sold to Chas. Frodsham & Co; Geoffrey Hart from 1948 and sold to RT (Peter) Gwynn Collection, from 1956 until sold in 1998 to present owner.
  4. The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest is an independent body, serviced by the Arts Council, which advises the Secretary of State for Digital, Culture, Media and Sport on whether a cultural object, intended for export, is of national importance under specified criteria.
  5. Arts Council England is the national development agency for creativity and culture. They invest public money from Government and The National Lottery to help support the sector and to deliver this vision.