Category Archives: Jonathan Reynolds

UK metals firms threaten to sue government over tariffs on steel imports from Asia

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Companies send letter to business secretary complaining new rules were imposed with 24 hours’ notice

UK metals companies have threatened to take legal action against the government over tariffs on raw steel imports from Asia which they claim have caused a “tsunami” of problems for the industry.

Earlier this summer, the business secretary, Jonathan Reynolds, reduced the amount of raw steel from Vietnam and South Korea that can be imported tariff-free in a move designed to protect UK raw steel makers, which face competition from cheap imports.

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Labour says firms will be penalised for late payments to suppliers

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Government drive to support small business will include startup loans for 69,000 companies worth £4bn

Keir Starmer has warned businesses who persistently delay payments to their suppliers that it is “time to pay up” as the government prepares to impose fines and penalties on repeat offenders.

In what Labour has billed as the toughest crackdown on late payments in a generation, the business secretary, Jonathan Reynolds, will say on Thursday that the changes will slash a cost to the economy that has escalated to £11bn a year.

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‘High energy costs have held back businesses’, says Miliband as government announces industrial strategy – UK politics live

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Prime minister says 10-year industrial strategy marks ‘turning point for economy’ as energy secretary says government will cut electricity costs for businesses

By the way, if you actually wanted to read the Modern Industrial Strategy document published by the government today, you can find it here.

The government has just pushed out a joint statement from business leaders welcoming it, which says:

The Industrial Strategy launched today marks a significant step forward and a valuable opportunity for the business community to rally behind a new vision for the UK – boosting confidence, sentiment, and enthusiasm for investment.

From start-ups and small businesses to large corporates, businesses need a more attractive, stable environment that enables faster, easier, and more certain investment decisions.

For too long high electricity costs have held back British businesses, as a result of our reliance on gas sold on volatile international markets.

As part of our modern industrial strategy we’re unlocking the potential of British industry by slashing industrial electricity prices in key sectors.

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UK trade secretary to seek exemption from US steel and aluminium tariffs

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Trump announced on Friday night that he planned to double rates on imported steel, piling more pressure on the industry

The UK’s trade secretary, Jonathan Reynolds, will meet his US counterpart next week to thrash out a timeline for exempting the UK from US steel and aluminium tariffs after Donald Trump announced he would double them.

British officials are seeking clarity on the implications of Trump’s announcement on Friday night that he planned to double the tariffs from 25% to 50% from Wedneday 4 June, piling further pressure on global steel trade.

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China accuses UK politicians of ‘arrogance’ in British Steel row

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Embassy criticises ‘slandering’ of Chinese government and defends Jingye over furnaces dispute

China has accused UK politicians of “arrogance, ignorance and a twisted mindset” as it defended British Steel’s owner, Jingye, after a barrage of criticism over the narrowly averted shutdown of its blast furnaces.

Beijing’s embassy to the UK accused unspecified British public figures of slandering China’s government and businesses, in comments published on Wednesday on its website.

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UK trade secretary to visit China with aim of reviving key joint trade commission

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Jonathan Reynold’s trip suggests government will continue its rapprochement with Beijing despite security concerns

The trade secretary, Jonathan Reynolds, will travel to Beijing to revive a key trade dialogue with China despite saying it had been naive to allow Chinese investment in sensitive sectors, the Guardian has learned.

Reynolds is scheduled to travel to China later this year for high-level talks in an effort to boost bilateral trade and investment.

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British Steel to deploy emergency measures to save Scunthorpe furnaces

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Firm in race against time to get key materials as business secretary says no guarantee it will get what it needs

British Steel is to deploy emergency measures in a race against time to save the blast furnaces at Scunthorpe, as the business secretary refused to guarantee the plant could get what it needed in time.

The company is understood to be looking at offers of help from more than a dozen businesses to obtain materials such as iron ore and coking coal, potentially allowing it to avoid the temporary shutdown of one of the two furnaces.

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Starmer dismisses claims he’s been ‘played’ by Trump, and says future trade deal could lessen impact of tariffs – UK politics live

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Starmer said that a future trade deal with the US might lead to the UK getting some exemptions from the tariffs

Richard Hughes, chair of the Office for Budget Responsibility, is giving evidence to the Treasury committee. There is a live feed here.

Hughes started by telling the committee that he wrote to the chancellor earlier this year to say that, when his five-year term ends later this year, he would like to have a second term in office.

We are of course negotiating an economic deal which will, I hope … mitigate the tariffs.

The US is our closest ally. Our defence, our security, our intelligence are bound up in a way that no two other countries are.

So it’s obviously in our national interest to have a close working relationship with the US, which we’ve had for decades, and I want to ensure we have for decades to come.

We are obviously working with the sectors most impacted at pace on that.

Nobody wants to see a trade war but I have to act in the national interests.

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Watchdog to reinvestigate Jonathan Reynolds’ legal career claims

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Solicitors Regulation Authority says it has further information about claims business secretary misrepresented his career

The Solicitors Regulation Authority has said it will reinvestigate the business secretary Jonathan Reynolds over accusations he misrepresented his legal career.

A spokesperson for the SRA said: “We looked at that issue at the time we became aware of it and contacted Mr Reynolds about the profiles.

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UK hopes to be a bridge between Europe and Trump’s US, minister says

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Jonathan Reynolds says Britain has not given up on persuading the US to allow Ukraine to join Nato

The UK hopes to act as a bridge between Europe and Donald Trump’s US, the business secretary, Jonathan Reynolds, has said before what could be a crucial week of diplomacy in deciding Ukraine’s future.

With Keir Starmer expected to travel to Paris on Monday for an emergency summit of European leaders, in advance of a possible trip to Washington the following week, Reynolds said the UK had still not given up on persuading the US to allow Ukraine to join Nato.

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UK rushes forward plans for £2.5bn steel investment after Trump announces tariffs

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US president’s announcement prompts government to publish green paper weeks ahead of schedule

The government has rushed forward plans for a £2.5bn investment in the UK steel industry after Donald Trump announced 25% tariffs on all imports of steel and aluminium into the US.

The business secretary, Jonathan Reynolds, will publish a green paper entitled Plan for Steel on Sunday – several weeks before schedule – in a sign of how Trump’s tariffs are sending shock waves through a UK government desperate to kickstart economic growth.

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Cheaper loans on table to urge UK motorists to EVs, plus cuts in fines for firms

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Business secretary Jonathan Reynolds says there is ‘no route to net zero’ that ignores concerns of businesses after wave of closures

• Jonathan Reynolds: If we delay the UK’s drive for electric vehicles, our rivals will overtake us

There is “no route to net zero” that ignores the real concerns of businesses, a cabinet minister has warned, as the government prepares to reduce financial penalties handed to carmakers not selling enough electric cars.

Ministers are also looking at how cheaper loans could be introduced to help people buy an electric vehicle (EV), after a wave of job losses and closures in which carmakers blamed the onerous fines they were facing.

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Pay for NHS chiefs to be linked to performance with ‘no more rewards for failure’, Wes Streeting says – as it happened

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This live blog is closed

Here are some of the main points from Jonathan Reynolds’s evidence to the Post Office inquiry so far this morning.

Reynolds said he accepted as business secretary he was responsible for ensuring the compensation scheme operated properly. He said in the past there had been “insufficient accountability”.

He said that since the general election there has been a “significant increase” in the pace at which compensation is being paid. The journalist Nick Wallis (who wrote a superb book, The Great Post Office Scandal) is live tweeting from the inquiry, and he quotes Reynolds as saying:

Since the general election there has been a significant increase in the pace at which compensation has been paid. The overall quantum of compensation is up in the last four months by roughly a third and the number of claims to which there has been an initial... offer being made in response to that claim has roughly doubled in the last four months [to] what it has been in the four months preceding the general election.

Home Office officials do not believe Labour’s plan to “smash the gangs” will work as a way of bringing down illegal migration to the UK, i can reveal.

They say that civil servants in the department have been “underwhelmed” by the approach that was being outlined again this week by Sir Keir Starmer and Home Secretary Yvette Cooper.

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Budget could include rise in employers’ national insurance, minister suggests

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Jonathan Reynolds says Labour pledge not to increase NICs applies to employees and does not rule out other changes

The business secretary has said Labour’s manifesto pledge not to raise national insurance applied to employees but he did not rule out raising employers’ contributions in the budget.

Speaking on Sky’s Sunday Morning with Trevor Phillips, Jonathan Reynolds was asked if the pledge applied to employees’ and employers’ national insurance contributions (NICs).

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Starmer steps into cabinet row over P&O to rescue global summit in London

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The PM has backed transport secretary Louise Haigh after she called ferry firm a ‘rogue operator’, threatening investment summit

Keir Starmer expressed his full confidence on Saturday in the transport secretary, Louise Haigh, after an explosive cabinet row cast fresh doubt over his Downing Street operation and threatened to overshadow a key international investment summit in London.

Government sources said the prime minister and Haigh had spoken and made up on Saturday after Starmer appeared to rebuke her on Friday for branding P&O Ferries a “rogue operator” in a statement and then calling for customers to boycott the company in a subsequent media interview.

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One Nation Tory group refuses to back Badenoch or Jenrick in party leadership race – UK politics live

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TRG says both candidates have ‘used rhetoric and focused on issues which are far and away from … the values we cherish and uphold’

Robert Jenrick, one of the final two Tory leadership candidates, is delivering a speech in London. There is a live feed on his X account.

Jenrick started by promising “a complete break with Labour’s failing agenda”. He said:

The real choice this country faces is between Labour’s failing agenda and the new approach I want us to take, the new approach we need as a country.

Because if I am chosen as the next leader of this party we will stand to offer a complete break with Labour’s failing agenda.

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Minister rejects claim that Sue Gray showed ‘stunning arrogance’ accepting higher salary than Keir Starmer – UK politics live

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Jonathan Reynolds, business secretary, suggests Starmer himself did not decide pay for his chief of staff

The government is going to consult on '“tough” new laws designed to reduce the extent to which small firms get their bills paid late.

Making the announcement, Jonathan Reynolds, the business secretary, said late payments were “simply unacceptable” and that the new moves would help small businesses.

When the cashflow runs dry, small firms go under which is why we need to hold larger business to account with their payment practices and foster an environment that supports growth and jobs.

The government will consult on tough new laws which will hold larger firms to account and get cash flowing back into businesses – helping deliver our mission to grow the economy.

In addition, new legislation being brought in the coming weeks will require all large businesses to include payment reporting in their annual reports - putting the onus on them to provide clarity in their annual reports about how they treat small firms. This will mean company boards and international investors will be able to see how firms are operating.

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Government to seek global trade deals for UK at expense of formal EU re-entry

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Business secretary Jonathan Reynolds says joining Asia-Pacific CPTPP bloc is a ‘real win’ for exporters, even though it will preclude the UK from EU membership

The business and trade secretary, Jonathan Reynolds, has signalled a new twin-track approach to UK trade policy, in which the Labour government will pursue closer ties with the European Union while at the same time seeking new global partnerships further afield.

Writing for the Observer online, Reynolds welcomes the UK’s imminent entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a “real win” for British exporters.

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Unions welcome scrapping of Tories’ ‘spiteful’ minimum service law

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Senior figures praise repeal of law but privately some want full workers’ rights overhaul implemented without delay

Unions have welcomed the government’s move to formally scrap a “draconian” anti-strike law that would have ensured a minimum level of service during industrial action as the legislation had restricted workers’ rights.

The deputy prime minister, Angela Rayner, and the business secretary, Jonathan Reynolds, have written to government departments with sectors that were most affected by the strikes to give a “clear message” the measures will be repealed and have urged all metro mayors to start engaging with local employers on the change.

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Business secretary confident of ‘market-led solution’ for Harland & Wolff

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Jonathan Reynolds says he expects Royal Navy ships will continue to be built at the struggling Belfast yard

The business secretary, Jonathan Reynolds, has said he is confident that the Harland & Wolff shipyard in Belfast will continue to build ships for the Royal Navy, despite ruling out government support for the struggling company.

Harland & Wolff is part of a consortium on a £1.6bn contract to build three naval fleet solid support ships to supply the Royal Navy’s aircraft carriers. However, it has faced months of uncertainty over its future.

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