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UK Infrastructure Bank
The UK Infrastructure Bank is a British state-owned development bank. It is intended to help with the UK Government's plan to reach net-zero carbon by 2050 and to support economic growth in regional and local sectors across the United Kingdom. Then Chancellor of the Exchequer, Rishi Sunak, stated that the bank would be tasked to invest in sectors such as " renewable energy, carbon capture, storage and transportation", and would provide "low-rate loans to mayors and councils to fund projects". The bank is publicly owned with its sole shareholder being the Treasury Solicitor in the capacity of HM Treasury. The bank was given initial capital amounting to £12bn, is able to offer up to £10bn of government guarantees, with its final capacity being £22bn. History The UK Infrastructure Bank was announced in the government policy paper, "National Infrastructure Strategy: fairer, faster, greener", on 25 November 2020. Its founding document was published by HM Treasury on 17 June 202 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Ownership
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renewable Energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a Orders of magnitude (time), human timescale. It includes sources such as Solar power, sunlight, wind power, wind, the movement of Hydropower, water, and geothermal energy, geothermal heat. Although most renewable energy sources are sustainable energy, sustainable, some are not. For example, some biomass sources are considered unsustainable at current rates of exploitation of natural resources, exploitation. Renewable energy often provides energy for electricity generation to a grid, space heating, air and water heating/air conditioning, cooling, and stand-alone power systems. Renewable energy technology projects are typically large-scale, but they are also suited to rural and remote areas and Renewable energy in developing countries, developing countries, where energy is often crucial in Human development (humanity), human development. Renewable energy is often deployed toge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belfast
Belfast ( , ; from ga, Béal Feirste , meaning 'mouth of the sand-bank ford') is the capital and largest city of Northern Ireland, standing on the banks of the River Lagan on the east coast. It is the 12th-largest city in the United Kingdom and the second-largest in Ireland. It had a population of 345,418 . By the early 19th century, Belfast was a major port. It played an important role in the Industrial Revolution in Ireland, briefly becoming the biggest linen-producer in the world, earning it the nickname " Linenopolis". By the time it was granted city status in 1888, it was a major centre of Irish linen production, tobacco-processing and rope-making. Shipbuilding was also a key industry; the Harland and Wolff shipyard, which built the , was the world's largest shipyard. Industrialisation, and the resulting inward migration, made Belfast one of Ireland's biggest cities. Following the partition of Ireland in 1921, Belfast became the seat of government for Northern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broadband In Northern Ireland
In Northern Ireland over 80% of the population has access to the internet, with 9 in 10 people having an internet connection in the home. Background Northern Ireland is one of the best connected regions in Europe and has the highest availability of fibre broadband in the UK, with 95% of premises able to access fibre enabled cabinets in June 2013. In 2015 BT rolled out the first fibre-to-the-premises (FTTP) broadband connections in the UK, offering download speeds of 330 Mbit/s. Currently residents of Northern Ireland have a choice of 27 broadband service providers. As of 2020, 50% of Northern Ireland has access to ultra fast broadband, with speeds of 1 Gbit/s or greater. BT As well as being the largest provider of landlines, BT are also currently the largest internet service provider in Northern Ireland. In 2009, BT started rolling out Fibre Optic broadband in certain locations within the United Kingdom and Belfast was chosen as one of the trial areas. BT Superfast Fibre (for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Teesside
Teesside () is a built-up area around the River Tees in the north of England, split between County Durham and North Yorkshire. The name was initially used as a county borough in the North Riding of Yorkshire. Historically a hub for heavy manufacturing, the number of people employed in this type of work declined from the 1960s onwards, with steel-making and chemical manufacturing (particularly through Imperial Chemical Industries) replaced to some extent by new science businesses and service sector roles. History 1968–1974: County borough Before the county of Cleveland was created, the area (including Stockton-on-Tees) existed as a part of the North Riding of Yorkshire, due to most land being south of the Tees. Teesside was created due to Stockton-on-Tees being linked heavily with Thornaby (which had amalgamated with South Stockton/Mandale to form the Borough of Thornaby), Middlesbrough and Redcar by industry. Compared to the modern Teesside conurbation, the area was sma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Management Office
The UK Debt Management Office (DMO) is the executive agency responsible for debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds. Purpose The DMO is responsible for day-to-day management of the UK Government's debt. It is tasked with carrying out the UK Government's debt management policy of minimising financing costs over the long term, taking account of risk, and managing the aggregate cash needs of the Exchequer in the most cost-effective way, in both cases consistently with the objectives of monetary and any wider policy considerations. It also manages the Public Works Loan Board and the Commissioners for the Reduction of the National Debt. Legal responsibility In institutional terms, the DMO is legally and constitutionally part of HM Treasury as an executive agency. The Minister ultimately responsible for the DMO is the Chancellor of the Exchequer, who determines the policy and financial framework within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White Paper
A white paper is a report or guide that informs readers concisely about a complex issue and presents the issuing body's philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision. A white paper is the first document researchers should read to better understand a core concept or idea. The term originated in the 1920s to mean a type of position paper or industry report published by some department of the UK government. Since the 1990s, this type of document has proliferated in business. Today, a business-to-business (B2B) white paper is closer to a marketing presentation, a form of content meant to persuade customers and partners and promote a certain product or viewpoint. That makes B2B white papers a type of grey literature. In government The term ''white paper'' originated with the British government and many point to the Churchill White Paper of 1922 as the earliest well-known example under this name. Gertrude Bell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Treasury
His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and economic policy. The Treasury maintains the Online System for Central Accounting and Reporting (OSCAR), the replacement for the Combined Online Information System (COINS), which itemises departmental spending under thousands of category headings, and from which the Whole of Government Accounts (WGA) annual financial statements are produced. History The origins of the Treasury of England have been traced by some to an individual known as Henry the Treasurer, a servant to King William the Conqueror. This claim is based on an entry in the Domesday Book showing the individual Henry "the treasurer" as a landowner in Winchester, where the royal treasure was stored. The Treasury of the United Kingdom thus traces its origins to the Treasury of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Solicitor
The Government Legal Department (previously called the Treasury Solicitor's Department) is the largest in-house legal organisation in the United Kingdom's Government Legal Service. The department is headed by the Treasury Solicitor. This office goes back several centuries. The office was enshrined in law by the Treasury Solicitor Act 1876, which established the Treasury Solicitor as a corporation sole (an office with perpetual succession). Employees of the department exercise legal powers which are vested in the corporation sole. The department is a non-ministerial government department and executive agency. The Treasury Solicitor reports to the Attorney General for England and Wales. The department employs more than 1,900 solicitors and barristers to provide advice and legal representation on a huge range of issues to many government departments. History The department was historically known as the Treasury Solicitor's Department, but changed name to the Government Legal Depar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Capture And Storage
Carbon capture and storage (CCS) or carbon capture and sequestration is the process of capturing carbon dioxide (CO2) before it enters the atmosphere, transporting it, and storing it ( carbon sequestration) for centuries or millennia. Usually the CO2 is captured from large point sources, such as a chemical plant or biomass power plant, and then stored in an underground geological formation. The aim is to prevent the release of CO2 from heavy industry with the intent of mitigating the effects of climate change. CO2 has been injected into geological formations for several decades for enhanced oil recovery and after separation from natural gas, but this has been criticised for producing more emissions when the gas or oil is burned. Carbon capture and utilization (CCU) and CCS are sometimes discussed collectively as carbon capture, utilization, and sequestration (CCUS). This is because CCS is a relatively expensive process yielding a product which is often too cheap. Hence, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rishi Sunak
Rishi Sunak (; born 12 May 1980) is a British politician who has served as Prime Minister of the United Kingdom and Leader of the Conservative Party since October 2022. He previously held two cabinet positions under Boris Johnson, lastly as Chancellor of the Exchequer from 2020 to 2022. Sunak has been Member of Parliament (MP) for Richmond (Yorks) since 2015. Ideologically, Sunak has been described as belonging to the centre-ground of the Conservative Party. Sunak was born in Southampton to parents of Indian descent who migrated to Britain from East Africa in the 1960s. He was educated at Winchester College, studied philosophy, politics and economics at Lincoln College, Oxford, and earned an MBA from Stanford University in California as a Fulbright Scholar. During his time at Oxford University, Sunak undertook an internship at Conservative Campaign Headquarters and joined the Conservative Party. After graduating, Sunak worked for Goldman Sachs and later as a partner at th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Banking
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services (fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutiqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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