The Weekly Bulletin: Friday 18 November 2022
Welcome to this week’s Bulletin.
Yesterday saw the Autumn Statement made by the Chancellor who spoke about the Government’s plans to ease the current financial situation. Jeremy Hunt tried to reassure the markets by pledging to work closely with the Bank of England and emphasising the importance to protect the UK’s financial credibility.
The Chamber would like to thank everyone who contributed to the review of the Chamber’s Strategic Plan so far, these sessions are designed to ensure Member requirements are firmly at the heart of our future strategy. There are a few spaces remaining at our final workshop, please contact Shirley Rice to book your slot.
This week, we have been busy working on key issues such as maritime trade negotiations, employment, safety guidance and modern slavery, which you’ll be hearing more about in our future communications. We are also looking forward to meeting members at several important events, including the 80th birthday celebrations for the MNTB.
Autumn Statement 2022
Chancellor Jeremy Hunt announced his plan to tackle the current cost-of-living crisis, during his Autumn Statement, yesterday. The UK economy entered into recession during Q3 of 2022 and the annual rate of inflation is forecast to reach 9.1% in 2022 before decreasing next year. Despite ‘global factors’ such as the Russian invasion of Ukraine being the main drivers of inflation, Hunt’s plan aims to shield and deliver on three top priorities: stability, economic growth and public services.
Some of the highlights of his budget include the income tax rate going down to £125,00 from £150,00, the windfall tax increase on oil and gas companies from 25% to 35% and a 45% levy on electricity generators. We’ll also see improvements in the R&D budget and the implementation of OECD Pillar 2 rules to achieve a global minimum corporate tax rate of 15%.
Although further analysis will be made available, Hunt’s statement shows a welcome return to a prudent approach to public finances, made in the expectation of challenging trading conditions through 2023.
Strategic Plan Member Consultation – Final Call!
The Chamber is reviewing its strategic plan. This process is designed to ensure that the Chamber is geared up to capitalise on the opportunities that present themselves in the years ahead and we are delivering on what our members want the Chamber to focus on.
Thank you to everyone who has taken part in the previous strategy sessions, your contribution is very valuable to us. Your feedback will now be collated to identify common themes and priorities, then shared and discussed with the Supervisory Board.
- Our last workshop will be on Wednesday 23 November, 09:30 - 11:00.
Please contact Shirley Rice if you’d like to take part in this session.
Your views on our priorities are of critical importance. I very much look forward to your engagement in setting the strategic direction of the Chamber for the coming years.
MNTB 80th Anniversary Drinks Reception
The Merchant Navy Training Board (MNTB) is celebrating its 80th anniversary with an exclusive drinks reception at the Shard, on Wednesday 30 November 2022.
We are looking forward to welcoming our guests to mark this important occasion in our history. Due to limited capacity, this event is by invitation only.
If you are interested in sponsoring future MNTB events, please contact Susan Bell.
Seatrade Maritime Salvage & Wreck Conference
The time is almost running out to register for the revamped Seatrade Maritime Salvage & Wreck Conference (30 Nov-1 Dec) that connects the dots between shipping, salvage and services.
The maritime industry is evolving faster than ever thanks to recent ambitious plans to decarbonise, digitalise and automate the industry. Risk management of future fuels, safety, salvage and legal considerations it’s vital to the industry.
Register before 25 November to save up to £ 169,00. UK Chamber of Shipping Members also receive an additional 20% discount. Register your place now by using code: CHAMBER20.
UK Chamber of Shipping Shipowner and Ship Manager Members will receive free VIP places by contacting Karen Attia.
To view the full programme and the speaker line-up, please visit the Seatrade Maritime website.
Recovery of Persons in Water (PIW) – Guide to Good Practice
The British Tugowners Association, in collaboration with the UK Chamber of Shipping, is delighted to announce that the PIW Guidance to Good Practice is now available to download from our website.
This guide provides all the information necessary to reduce the chances of a tragedy if a person goes overboard. We recommend reading this guide carefully and implementing its recommendations as lifesaving.
More information is also available through the British Tugowners Association website.
Cadet Training Bursaries
The Maritime Educational Foundation (MEF) Trustees have agreed to increase their Cadet bursaries by 25% following the changes in SMarT funding.
This significant increase highlights the MEF’s commitment to Cadet training, providing essential support, particularly with the recent increase in living costs. The increase is effective immediately and will be backdated to 1 September 2022.
To learn more about Officer Cadet opportunities within the Merchant Navy visit the Maritime Educational Foundation website.
Latest member updates
Chamber members are reminded that they have exclusive access to a range of updates from the Chamber’s policy experts on a wide spectrum of issues. The latest updates this week include:
- Recovery of Persons in Water (PIW) Guide to Good Practice for Small Vessels
- Health and Safety Sub-Committee, 24 November 2022: Agenda and Notes
- Health and Safety Sub-Committee, 24 November 2022: Annex A to Note HS/22-23
- Health and Safety Sub-Committee, 24 November 2022: Annex B to Note HS/22-23
- Health and Safety Sub-Committee, 24 November 2022: Annex A to Note HS/22-26
- Points-Based System: Sponsorship Licence Discussion
- Ferry and Cruise Panel - 8 December
Annual Dinner 2023
The Chamber is delighted to announce that the Annual Dinner 2023 will take place on Monday 6 February. The event will be held at the iconic 5-star hotel JW Marriott Grosvenor House, in London, located on Park Lane in the heart of Mayfair. This is a wonderful opportunity to network with colleagues and celebrate recent milestones.
Last year, this event attracted around 800 influential guests from across the maritime industry. Tickets are now on sale and can be purchased through the Chamber website.
Maritime Sector Under The EU/UK ETS webinar
The seminar will aim to provide a comprehensive view of the scheme’s structure and current reforms with a strong focus on the trading aspect for new industrials to the ETS trying to navigate the carbon markets.
We look forward to exploring the carbon markets with you on Thursday, 24 November 2022. More details are available on the Chamber website.
Have a wonderful weekend,