Press release: International Trade Secretary launches FinTech investment drive

International Trade Secretary Dr Liam Fox MP today (Friday 15 June) launches a new drive to attract investment into the UK’s booming financial technology (FinTech) sector. Dr Fox’s Department for International Trade (DIT) will prioritise investment into FinTech, set up a UK FinTech steering board and connect companies with global investors.

The new drive comes during London Tech Week. It follows the Prime Minister’s announcement on Wednesday (13 June) that more than 1,600 new jobs will be created and £2.3 billion of private investment into the broader technology sector has been secured, showcasing the UK as the best country in the world to run a tech company.

Launching the new FinTech investment drive, International Trade Secretary Dr Liam Fox MP said:

The UK is a world leader in the FinTech sector, thanks to our highly-skilled and creative workforce, fair regulatory system and ease of doing business.

The sector has already attracted £1.8 billion worth of investment in 2017 – a 153% increase on the previous year and as an international economic department, DIT is putting technology and innovation at the heart of the UK’s global growth.

Financial services and technology are 2 of the UK’s leading industries, with FinTech playing an increasingly important role in tasks ranging from complex financial transactions to helping consumers give money to charity more easily.

DIT’s FinTech steering board brings together academics, industry experts, government and regulators to drive investment into the sector, which is at the forefront of the UK’s global technology and innovation proposition.

It will be chaired by the City of London’s Lord Mayor, Charles Bowman, and firms including Zopa, Neyber, EY, Innovate Finance and Santander will sit alongside government, regulators and academics from MIT and Oxford University.

Charles Bowman, Lord Mayor of the City of London and chair of DIT’s FinTech board, added:

FinTech is something that I am hugely passionate about, with the UK home to around 1,600 FinTech companies, and more than 50,000 related jobs in the Square Mile alone.

I look forward to exploring how we can further develop our world-leading FinTech offer and to helping shape the UK’s future FinTech trade and investment strategy.

The FinTech steering board

The board comprises of the following members:

  • Omar Ali: UK Financial Services Leader, EY
  • Giles Andrews: Co-founder and Chairman, Zopa
  • David Bartlett: Head of Financial and Professional Services Team, DIT
  • Charlotte Crosswell: CEO, Innovate Finance
  • Anna Wallace: Innovate Head of Department, FCA
  • Stephen Ingledew: Chief Executive, FinTech Scotland
  • Monica Kalia: Founder, Chief Strategy and Business Development Officer, Neyber
  • Alastair Lukies: Founding Partner, Motive Partners
  • Dan Morgan: FinTech Sector Specialist, DIT
  • Sigridur Sigurdardottir: Chief Customer and Innovation Officer, Santander
  • David L. Shrier: Associate Fellow, MIT and Oxford
  • Paul Stoddart: CEO Vocalink
  • Phil Vidler: Head of Global Markets, HM Treasury
  • Tomas Helm: FinTech Lead, DIT

The board will convene 4 times a year with the first meeting taking place during London Tech Week, a celebration of innovation that brings together a global gathering of thought leaders, entrepreneurs and tech champions.

For more information

Contact the DIT Media Team on 020 7215 2000

Follow us: @tradegovuk, gov.uk/dit




Press release: Spaghetti Junction on a plate! Award-winning chef celebrates iconic structure

Michelin-starred chef Glynn Purnell has created a mouth-watering dish based entirely on the ingredients which get from plot to plate at his Birmingham restaurant via the well-known structure.

The special dish, called ‘Truffled A38’, comprises celeriac, Maris Piper potatoes, double cream, fresh parsley, Berkswell cheese, garnished with truffle and seasoned with salt and ground ginger.

Glynn, affectionately known as the ‘Yummy Brummie’, created the dish specially for Highways England to mark the 50th anniversary of work starting to build the road, officially named Gravelly Hill Interchange.

View a video of Glynn creating the dish.

He and Highways England also aim to raise the profile of the 2018 Year of Engineering campaign designed to encourage more young people into the industry.

Glynn said:

It was a tremendous honour to be asked by Highways England to create a special dish as a tribute to Spaghetti Junction. I also took it very seriously as it means an incredible amount to me as a proud Brummie.

I use the road at least four to six times a day and for me it is more about traffic, it is symbolic of Brummies and their sense of humour which comes across in the name of the road. I’m proud to have a restaurant in Birmingham and Spaghetti Junction is an essential part of helping to get daily produce here to the restaurant from places across the country such as Cornwall.

My children always chuckle when I mention Spaghetti Junction to them because they imagine it is like a piece of spaghetti, a drawing on a piece of paper. But it’s important that they think about the world around them and how things are built and constructed.

It is great that the Year of Engineering is calling on youngsters to think about a career in the sector because without engineering we wouldn’t have the road and it is a crucial part of helping people to access the wonderful city of Birmingham. There will always people that poke fun and criticise it, but for me, the road does more good than bad and I think we’d be lost without it.

By bringing young people face to face with engineering experiences and role models, the Year of Engineering campaign aims to showcase the creativity and innovation of engineering careers and widen the pool of young people from all backgrounds who are willing to consider the profession, diversifying a workforce that is 91% male and 94% white.

Highways England’s emergency planning officer Frank Bird is responsible for managing traffic flows around the structure and has done so for the past 14 years. He was the lucky recipient when it came to tasting the dish.

Frank said:

It was a real earthy dish and it certainly showcased the variety that comes into the kitchen through Spaghetti Junction every day. It tasted delicious and it is a privilege to have someone like Glynn Purnell recognising the significance of the road and its role in serving the people of Birmingham and beyond.

The Year of Engineering is crucial in helping to get the budding engineers of tomorrow thinking about the world around them and the 50th anniversary of work starting to build Spaghetti Junction is testament to what can be achieved by talented engineers.

Any young people inspired to explore a career in engineering are encouraged to visit the Year of Engineering website which has further information.

The recipe for Truffled A38

  • Celeriac – Quartered
  • Maris piper potato – 1 large, peeled and washed
  • Double cream – 300ml
  • Fresh parsley – 1 tablespoon chopped
  • Berkswell Cheese – 30g grated
  • Truffle
  • Salt and ground ginger to season

Method:

  1. Using a vegetable spiralizer, prepare the celeriac and potato into vegetable “spaghetti”.
  2. Put the cream into a large sauté pan and reduce by half, add the celeriac and potato and cook over a medium heat for 2-3 minutes until al dente, add the cheese and stir in to incorporate.
  3. Add the parsley and season with salt and ground ginger.
  4. Using a pasta fork twist the vegetable spaghetti and place into a serving dish, spoon the creamy sauce over the top.
  5. Finish by grating fresh truffle over the top.

Spaghetti Junction in numbers

  • it is the interchange of the M6, A38, A38 (M) connecting Birmingham and the M6
  • work started to build the road in 1968
  • some of the columns elevating the structure reach some 80ft
  • Spaghetti Junction continues to hold international acclaim having formed the backdrop for filming for Ready Player One with some scenes filmed underneath the structure
  • the towering concrete columns, some reaching to 80 feet high, formed the ideal backdrop to the film, which was in cinemas earlier this year
  • for the filming, special templates featuring graffiti were stuck to the concrete structures and various props added into the set, including cars and tyres, with a ‘camp’ constructed for the new film
  • the film crew took considerable effort to protect the structure and ensure nothing was damaged during filming

About Glynn Purnell

  • Glynn first started cooking at the age of 14.
  • his first food related memory was cooking baked beans on toast with curry powder, a testament to his desire to experiment with different flavour combinations
  • on leaving school, he joined the Metropole Hotel at the National Exhibition Centre (NEC) where he would catch the No 966 bus to get to the venue
  • he started working as an apprentice and worked for six years in various departments
  • accolades include obtaining Birmingham’s first Michelin Star for Jessica’s in 2005.
  • Purnell’s has held a Michelin Star every year since 2009.

General enquiries

Members of the public should contact the Highways England customer contact centre on 0300 123 5000.

Media enquiries

Journalists should contact the Highways England press office on 0844 693 1448 and use the menu to speak to the most appropriate press officer.




News story: Lord Tariq Ahmad’s Eid message

As Minister of State for human rights and freedom of religion and belief, I wish you all Eid Mubarak.

At this special time for Muslims the world over, we must not forgot those for whom such festivities pale into insignificance due to the issue of conflict and human suffering.

This Eid, my thoughts and prayers go out to all those who are affected by conflict around the world, for the holy land, and Syria, Burma and Yemen and especially those who have lost and are separated from their families.

The situation in Syria is a humanitarian catastrophe. The conflict is now in its eighth year; over 400,000 people have been killed, and half Syria’s population displaced.

But the UK is not a distant onlooker. We have committed £2.71 billion to the Syria Crisis since 2012, our largest ever response to a single humanitarian crisis. We’ve also committed over half a billion to the humanitarian crisis in Yemen since the conflict began in 2015 and £59m to the support the Rohingya.

Yet despite these conflicts we must never give up hope. We must persevere. Whether it is through the pursuit of diplomacy, our peacekeeping operations to restore stability and build nations, or our service to humanity, Britain continues to play our part.

We are an incredible nation, enriched by our multi-ethnic, multi-faith democracy, where Christians, Muslims, Jews, Hindus, Sikhs and indeed, people of all faiths and none define the rich tapestry which is modern Britain. People irrespective of faith, community or background are able to reach their potential, coming together to contribute to the prosperity and progress of our nation.

So at this special time for Muslims, it is a celebration for all as it reflects the strength of the diversity of our country and our people.

Eid Mubarak to all.




Corporate report: On The Level Issue 16 June 2018

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