Our Contact Centre will be closed at certain times over the Christmas and New Year period.

We will be open as usual until Tuesday 24th December (Christmas Eve).

Date	Opening Hours
Monday 23 December	8am to 6pm
Tuesday 24 December (Christmas Eve)	8am to 3pm
Wednesday 25 December (Christmas Day)	Closed
Thursday 26 December (Boxing Day)	Closed
Friday 27 December	8am to 6pm
Saturday 28 December	10am to 5pm
Sunday 29 December	Closed
Monday 30 December (New Year’s Eve)	8am to 3pm
Tuesday 1 January (New Year’s Day)	Closed
Wednesday 2 January	8am to 6pm

Online services such as the Update Service and online tracking are available as usual over Christmas.

Published 20 December 2019

Andrew Bailey will become the new Governor of the Bank of England from 16 March 2020, the Chancellor has announced. The current head of the Financial Conduct Authority (FCA) will succeed Mark Carney, who has served since 2013. Her Majesty the Queen has approved the appointment.

Making the announcement the Chancellor said:

When we launched this process, we said we were looking for a leader of international standing with expertise across monetary, economic and regulatory matters. In Andrew Bailey that is who we have appointed. Andrew was the stand-out candidate in a competitive field. He is the right person to lead the Bank as we forge a new future outside the EU and level-up opportunity across the country.

I also want to take this opportunity to thank Mark Carney for his service as Governor. The intellect, rigour and leadership he brought to the role during a critical time was a significant contribution to the UK economy moving to recovery and growth.

Accepting the role, Andrew Bailey said:

It is a tremendous honour to be chosen as Governor of the Bank of England and to have the opportunity to serve the people of the United Kingdom, particularly at such a critical time for the nation as we leave the European Union.

The Bank has a very important job and, as Governor, I will continue the work that Mark Carney has done to ensure that it has the public interest at the heart of everything it does. It is important to me that the Bank continues to work for the public by maintaining monetary and financial stability and ensuring that financial institutions are safe and sound.

I am committed to the Bank being an accessible and approachable institution, as well as an open and diverse place to work.

I would like to pay tribute to my colleagues at the Financial Conduct Authority for their support during my time as Chief Executive and the excellent work they do.

In order to provide for a smooth transition, the current Governor, Mark Carney, and the Chancellor have agreed a short extension to Mr Carney’s term. He will now complete his term on 15 March 2020.

Mark Carney said:

I am delighted to welcome Andrew Bailey back to the Bank as its next Governor.

An extraordinary public servant, Andrew brings unparalleled experience, built over three decades of dedicated service across all policy areas of the Bank, and most recently as CEO of the FCA.

Andrew is widely and deeply respected for his leadership managing the financial crisis, developing the new regulatory frameworks, and supporting financial innovation to better serve UK households and businesses.

Over the years, I benefited greatly from his support and wise counsel. I wish Andrew and the Bank continued success in their work to serve the people of the United Kingdom by maintaining monetary and financial stability.

Further information

Andrew Bailey will be the 121st Governor in the Bank’s 325 year history and the 9th to be appointed since the Bank’s nationalisation in 1946.

Mr Bailey has been appointed for an eight-year term and will receive a salary of £495,000.

To ensure continuity, an interim Chief Executive of the FCA will be appointed well ahead of Mr Bailey’s departure to manage the organisation until a permanent successor is chosen by HM Treasury.

The process for the recruitment of a permanent Chief Executive will be run by HM Treasury and will follow the Government’s Principles of Public Appointments and Governance Code, as overseen by the Office for the Commissioner for Public Appointments.

Recruitment process

The Chancellor makes a recommendation to the Prime Minister who writes to Her Majesty the Queen for approval.

Public appointments are made on merit. The Chancellor was supported by a panel who oversaw the recruitment process. The panel were Tom Scholar (Permanent Secretary to the Treasury), Charles Roxburgh (Second Permanent Secretary to the Treasury), Bradley Fried (Chair of the Court of the Bank of England) and an independent member Dame Kate Barker (former MPC Member and senior economist).

Biography

Andrew Bailey, currently CEO of the Financial Conduct Authority (FCA), has held senior roles across all areas of monetary, financial and economic policy. He has led the FCA since July 2016, having previously held the role of Deputy Governor of the Bank of England for Prudential Regulation and CEO of the Prudential Regulation Authority. He has been a member of the Bank’s Financial Policy Committee since 2012.

He led much of the Bank’s work on bank resolution and supervision following the crisis of 2007/9 and has extensive international experience through his work with the Financial Stability Board, and the International Organisation of Securities Commissions.

Having joined the Bank in 1985, he has held roles including as Executive Director for Banking Services and Chief Cashier, Private Secretary to the Governor and Head of the International Economic Analysis Division in Monetary Analysis.

He was born in Leicester where he attended Wyggeston Boys’ Grammar School, He gained his BA and PhD from Queens’ College Cambridge, and is married with two children.

Secretary of State for Wales Simon Hart hailed a bright future for Wales today [19 December] following legislation in the Queen’s Speech which will allow the UK to get Brexit done and leave the EU on 31 January.

The new Welsh Secretary was speaking after Her Majesty The Queen delivered the speech outlining the UK Government’s ambitious and optimistic legislative agenda for the coming Parliamentary session.

Secretary of State for Wales Simon Hart said:

Legislation outlined in the Queen’s Speech will mean we can finally get Brexit done, leave the EU on 31 January and forge a bright future for Wales and the rest of the UK.

The vast majority of the Bills and measures outlined today apply to Wales and include introducing a modern points-based immigration system, tackling violent crime and making improvements to the criminal justice system.

We are providing a £600 million boost to the Welsh Government’s budget as a result of the latest spending round and people across the country would expect much of this extra money to be spent on the NHS in Wales.

The Prime Minister has once again made clear his unwavering commitment to strengthening the United Kingdom through our commitment to major investments in city and growth deals across the whole of Wales, a new UK Shared Prosperity Fund to tackle inequality and deprivation, and his support for manufacturing industry which continues to provide thousands of jobs. This is an ambitious package of measures which will benefit communities across Wales.

Published 20 December 2019

Today, Friday 20 December, the newly formed Parliament will begin the process of ratifying the great new deal the Prime Minister negotiated with the EU.

The European Union (Withdrawal Agreement) Bill will have its Second Reading in the House of Commons. The Bill will then complete the remaining stages in both Houses of Parliament and get Royal Assent as soon as possible in the new year, so the UK can leave the EU on time on January 31st.

The new Bill will implement the Withdrawal Agreement negotiated with the EU, and changes have been made since October to:

• Legally prohibit Government extending the Implementation Period beyond December 31st 2020
• Restore power to UK courts, by giving them the ability to consider ECJ rulings that have been retained in UK law
• Give Parliament greater oversight by requiring ministers to report annually on disputes with the EU under the Withdrawal Agreement
• Repeal spent legislation that now serves no purpose, including the Cooper Act and the Benn Act

Our commitment to continue the highest standards on workers’ rights, environmental standards and consumer protections will be honoured by provisions in separate legislation, including the Employment Bill announced in the Queen’s Speech.

Ahead of the Bill’s introduction, Prime Minister Boris Johnson said:

Today we will deliver on the promise we made to the people and get the Brexit vote wrapped up for Christmas.

Now MPs will start the process of passing the Bill. Then, at the beginning of the new decade, at the beginning of a new dawn for our country, our parliamentarians will return to Westminster to immediately finish the job, take us out of the EU on 31st January and move this country forward.

After years of delay and rancour in Parliament, we will deliver certainty and hard-working businesses and people across this country will have a firm foundation on which to plan for the future.

Next year will be a great year for our country – the year we get Brexit done, boost NHS funding, invest in infrastructure and level up access to opportunity and prosperity across our great nation.

It will mark the start of a new decade where the United Kingdom will champion trade, innovation and science and meet global challenges with old friends and new across the world.

Thank you very much, Madam President.

Thank you to the Under-Secretary-General, to the head of the EU delegation, and very good to have our Iranian colleague with us.

We welcome the Secretary-General’s eighth report on the implementation of 2231. And we offer our thanks to the Secretariat for their continued professionalism and the support they provide to the Secretary-General in enabling the production of this report.

When I spoke to the Council in June, Madam President, I said that the United Kingdom remained committed to the JCPOA and this commitment stands. The JCPOA is critical to the wider global nonproliferation architecture, and it’s vital for our national security and the shared security of our partners and allies. We believe it is the best means to avert a nuclear armed Iran.

As we have said before, we regret the US decision to leave the JCPOA and reimpose sanctions on Iran. We’ve said this in our most senior levels and on the public record and we understand the impact this has had in Iran and on the Iranian people.

Our commitment to the JCPOA and its instruments, including the procurement channel, is evidenced by our work as co-chair of the Arak modernisation project and with E3 partners on INSTEX. We therefore deeply regret Iran’s decision to reduce compliance with the JCPOA. At the Joint Commission on 6 December, we made our concern clear: Iran’s actions are extremely serious. They are hollowing out the nonproliferation benefits of the nuclear deal and are not all reversible.

As the United Kingdom, we have made clear our determination to find a way forward and to address Iranian non-compliance through the JCPOA, including the Dispute Resolution Mechanism. This is not a step we want to take, but Iran’s actions are leaving us little option other than to respond within the parameters of the agreement. Should we be forced down the path of triggering the DRM, we would do so in order to find a diplomatic way forward with the aim of protecting the agreement.

Madam President, Iran faces a stark choice: continue down this damaging path or take immediate steps back into compliance and rebuild international confidence.

Madam President, turning to ballistic missiles, In November the E3 – France, Germany UK – wrote to the Secretary-General regarding Iran’s development and testing of ballistic missiles and related technology. Over the past year, Iran has tested the Shahab 3 medium range ballistic missile, unveiled the Borkan-3 medium range ballistic missile and attempted the launch of the SAFIR satellite launch vehicle. All of these actions are inconsistent with paragraph 3 of Annex B of Resolution 2231.

Iran argues that the provisions in 2231 are not legally binding. They have also taken issue with the E3 use of MCTR categories to define nuclear capable missiles.

Madam President, we should be clear: the definition encapsulated in the MTCR is the most objective, widely accepted standard of nuclear deliverability in the world. It is internationally recognised and observed by states which seek to prevent the proliferation of ballistic missile technology, capable of carrying weapons of mass destruction. For many states, it is incorporated into their national legislation.

The purpose of the provisions in Annex B paragraph 3 is to give the international community confidence that Iran is not developing technology capable of serving as a means of delivery for a nuclear weapon. In undertaking the activity described in the E3’s communications to the Security Council, Iran is not providing much confidence.

Madam President, turning to regional activity, during the last year, there has been a continued increase in Iran’s destabilising activity around the Middle East, including activities which are inconsistent with UNSCR 2216 and other resolutions. In May and June, we saw attacks on commercial shipping near Fujairah and in the Gulf of Oman. A thorough UK assessment concluded that both attacks were almost certainly the work of the Islamic Revolutionary Guard Corps. Likewise, the IRGC was almost certainly responsible for May’s attack on the Yanbu pipeline near Afif. And then, in September, we witnessed a large-scale drone and missile attack against Aramco Oil facilities in Saudi Arabia. This was a reckless, destabilising and completely unacceptable attack affecting more than 5 percent of the world’s oil and gas production.

Madam President, as the UK, France and Germany have made clear, we are confident that Iran bears responsibility for that attack. The Houthi claim of responsibility is implausible for a number of reasons, not least the scale, sophistication and range of the attack.

We note the Secretariat’s continued efforts to collect and analyze information on the weapons used in the 14 September attack, and we welcome the Secretariat’s observation that the number of impact points at the oil facilities was consistent with the figures provided by Saudi Arabia and inconsistent with Houthi statements. We look forward to hearing the Secretariat’s findings in due course.

Iran has also transferred missiles to a number of armed groups in violation of several Council resolutions, including 2231, 2216 and 2514. The latest Secretary-General report details concerning evidence regarding the transfer by Iran into Yemen of UAVs and optical sights of rocket-propelled grenade launchers. Such proliferation is destabilising for the region and escalates already high tensions and should stop.

Current tensions in the region remain deeply concerning. Further escalation is in no one’s interest, and I want to, once again, call for de-escalation, dialogue and full respect for international rules.

Madam President, I note the interest of some members of the Council and of Iran in resolution SCR 598 about regional dialogue. At the right time, and if genuinely intentioned, this may be able to play a useful role. But I think both timing and intent are critical ingredients, if any initiative on those lines is to get off the ground in the right way.

Madam President, we continue to hope that Iran will take steps to regain the confidence of the international community and assume its rightful role as a prosperous, responsible power, constructively engaged in the region. We respect the Iranian people. We have deep respect for Iran’s civilisation and the achievements of her past. But I urge Iran not to undertake any more actions that would take her further beyond JCPOA limits and instead to work closely and in good faith with other participants to implement its commitments fully and to help reduce escalating tensions in this region of the world.

Thank you, Madam President.