Surprise rise in inflation
Annualised inflation increased to 4% in December, up from 3.9% in November, in contrast to a larger than expected drop in the month prior.
Measured by the Consumer Prices Index (CPI), this uptick was primarily driven by rises in the price of cigarettes and alcohol and defied forecasts for annualised inflation to come in at 3.8%.
Meanwhile, core inflation, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, stood at 5.1% in the 12 months to December 2023, the same as in November.
Alpesh Paleja, CBI lead economist, said: “Today’s inflation figures show it isn’t ‘job done’, despite coming after last month’s sharper-than-expected fall. Indeed, risks to the inflation outlook remain very much to the upside.
“In the near-term, Ofgem’s lifting of the energy price cap in January will likely lead to a small bump in the CPI rate. And there are now renewed risks from tensions in the Middle East, through their potential impact on supply chains and commodity prices.
“Notwithstanding signs of a moderation in wage growth, the Bank of England will also be watching for more persistent cooling of domestic price pressures, in order to be more reassured about the inflation outlook. So, while all eyes are focusing on the timing of cuts to interest rates, it may still prove soon to start reducing the cost of borrowing.”
Start strong in 2024 with Business Lincolnshire’s support
Business Lincolnshire is here to assist and guide entrepreneurs in Greater Lincolnshire and Rutland through the practical steps of launching and developing a start-up business in 2024.
As we step into 2024, it’s a great time to turn your business dreams into reality. For local entrepreneurs ready to take the leap, crafting a solid business plan, securing financial support, establishing a robust marketing strategy, and ensuring legal compliance are among the crucial steps required for success. Recognising the challenges that start-ups encounter, whether you’re at the initial stages or need assistance along the way, Business Lincolnshire is available to guide start-up businesses in the region, providing essential support to help you achieve success.
Councillor Davie, Executive Councillor for Economy & Place at Lincolnshire County Council, emphasises: “2024 is a prime time for individuals to take their first steps towards starting in business. We understand the challenges of transitioning from an idea to a thriving business, and that’s why Business Lincolnshire is committed to providing the necessary fully funded support and resources.”
At the core of this support system is the Business Lincolnshire Start Up Academy. This initiative offers workshops and personalised advice for those contemplating entrepreneurship or managing early-stage businesses. Led by professional Business Start-Up Advisers, the programme serves as a supportive platform, offering insights into business plans, financial forecasting, accessing finance, mentoring, coaching, and more.
Recognising the financial challenges that often accompany business initiation, the Start-Up Academy also offers practical solutions through its Funding Your Start-Up workshops. These are designed to provide valuable insights into securing funding, whether through grants, loans, or various support schemes. Reflecting on the effectiveness of the Programme, Trish Kelly, a past participant, states: “The workshop was very informative, especially on finances. Would thoroughly recommend to others at any stage of setting up a business.”
Now is the time for aspiring entrepreneurs to act on their dreams. Business Lincolnshire is ready to provide the tools, support, and expertise needed to turn those dreams into successful businesses. For more information and to access support, please visit Business Lincolnshire’s website.
Please note: Geographical restrictions may apply to certain programmes. Interested businesses are encouraged to verify their eligibility before applying.
Planning application submitted for remodelling of Huddersfield’s Buxton House
Kirklees Council is moving forward on the plans to remodel Buxton House, a high-rise block in Huddersfield town centre. A full planning application has been submitted this January.
A dedicated council housing team has started conversations with tenants to help them find new homes. Financial help and tailored support will be provided to make moving easier before the work begins.
This comes after a well-engaged consultation was held in August 2023, allowing tenants to share their feedback on the plans for the building.
Working closely with building consultants AHR, the council has used this feedback to shape the plans. The remodelling will also save money in the long run by making the building more energy efficient.
The project will reuse the current building’s main structure but will result in major improvements to fire safety, the layout of the flats and communal spaces and the external appearance of the building, including a new entrance. It is the intention to connect the building to the proposed district heating system, helping to reduce heating costs for tenants.
Solar power features are also included in the plans, showing the council’s commitment to both improving housing standards and reducing environmental impact.
Councillor Moses Crook, Cabinet Member for Housing and Highways, said: “I am delighted we are now at the stage where we have submitted a planning application for the remodelling of Buxton House, as well as starting to have conversations with our tenants on their future housing options.
“We know this might be a challenging time for our tenants, but full support will be in place throughout the project.
“The work is essential for meeting new building safety laws, improving tenant experience and also for reducing the building’s environmental impact. AHR has worked with us to include features that will save money for both the council and tenants.”
The £57 million budget for improving high-rise blocks in Kirklees comes from rent payments and is only used to upgrade and maintain council housing. The work on Buxton House is crucial for improving fire safety and keeping tenants safe.
University of Sheffield Energy Innovation Centre opened by Lord Callanan
A new centre that enables businesses to carry out innovative research and development projects with some of the largest and most exciting equipment in Europe, has opened at the University of Sheffield.
The Energy Innovation Centre (EIC) gives industries access to some of the University’s world class research facilities to test and develop new low-carbon energy technologies.
Leading global aerospace company Boeing is one of the founding members and is set to work with the University to help develop sustainable aviation fuels (SAF).
As the founding industry member, Boeing has access to the University’s Translational Energy Research Centre (TERC) and Sustainable Aviation Fuels Innovation Centre (SAF-IC) – two world leading research facilities, both of which are UK firsts. Boeing will use these to advance the development of SAFs and support new SAF producers in the UK, including Bicester-based Zero Petroleum.
They have achieved this level of capability with £7 million previously awarded to the Translational Energy Research Centre by the Department for Energy Security and Net Zero, £19.3 million from the European Regional Development Fund and further funding from the University of Sheffield.
TERC is a world class testing facility – one of the best equipped facilities in Europe – that enables businesses to test new low-carbon energy ideas at pilot scale. SAF-IC provides state-of-the-art facilities to rigorously test, certify and deploy new sustainable aviation fuels all in one place.
Both R&D facilities, under the new Energy Innovation Centre, are helping put South Yorkshire and the UK at the forefront of efforts to decarbonise the aviation industry and develop new low-carbon energy technologies.
Minister for Energy Efficiency and Green Finance Lord Callanan, was joined at the event by Steven Gillard, Sustainability Regional Director for UK and Middle East at Boeing.
Minister for Energy Efficiency and Green Finance Lord Callanan said: “Having awarded £7 million to the Translational Energy Research Centre, I’m thrilled that they’re combining their strengths with the Sustainable Aviation Fuels Innovation Centre, in the search for new and creative solutions to help us hit net zero.
“This includes working on four carbon capture projects – backed by the government’s £1 billion Net Zero Innovation Portfolio, to help bring down the cost of this technology as we make the UK a pioneer in this area.”
Boeing being a founding member builds on its longstanding relationship with the University of Sheffield, which has helped to bring major investment into the South Yorkshire region and drive innovation in aerospace. Boeing was a founding member of the University of Sheffield Advanced Manufacturing Research Centre (AMRC) – a hugely successful blueprint for academic and industry R&D – and chose to open its first European manufacturing facility in Sheffield in 2018.
Steven Gillard, Sustainability Regional Director for UK and Middle East, Boeing, said: “We are committed to working with our partners across the globe on our journey to more sustainable aviation, including efforts to develop and scale SAF – our industry’s biggest lever in reducing emissions today and into the future. Building on our longstanding presence in South Yorkshire, being founding members of the EIC further solidifies the region’s pivotal role in our industry’s pursuit of net zero emissions.”
Professor Mohamed Pourkashanian, Managing Director of the Energy Innovation Centre at the University of Sheffield, said: “The official launch of the Energy Innovation Centre is the result of many years of hard work to both build TERC and the environment at the University of Sheffield which allows their success to flourish. We are grateful for the many years of support from the Department of Energy Security and Net Zero, and the European Regional Development Fund which enabled the existence of these world-leading research facilities.
“I’d also like to once again welcome Boeing, the founding member of the EIC, and our new member DRAX. We look forward to working with many more industrial partners in the future to drive forward decarbonisation technology and meet the net zero goals of the UK and beyond.”
Contentious probate specialist joins LCF Law
Yorkshire law firm, LCF Law has appointed experienced contentious probate solicitor, Kelly Gilbert, as an associate in its Disputes team.
Kelly has spent the past 15 years at Lupton Fawcett and specialises in disputes involving wills, trusts and inheritance provision. She has also successfully completed the Association of Contentious Trusts and Probate Specialists (ACTAPS) course.
In her new role, Kelly, who is based in the firm’s Bradford office, will work alongside LCF Law partner and disputes specialist, Ragan Montgomery, and solicitor Catherine Schofield, as the firm continues to build on its reputation in the intricate area of contentious probate.
Kelly said: “Joining LCF Law is an opportunity to further my career at a firm that is widely recognised as a leading employer in Yorkshire and beyond. Working alongside Ragan and Catherine, who have a formidable reputation in the field of contentious probate, is also an exciting prospect and I’m looking forward to working with them.”
Ragan Montgomery said: “In recent years contentious probate has become a significant area for us. This is partly down to an increase in the number of challenges being made to wills, which is often due to more complex family structures and blended families, as well as an aging population, where mental health and whether people have the capacity to make decisions come into play.
“Kelly’s experience in this field will enable us to enhance our services and expertise to clients throughout the UK. Crucially, Kelly has a solid track record working across all areas of contentious probate, and especially when it comes to inheritance provision claims, where people have been left with very little or even nothing in a will, so she’s a very welcome addition to our team.”
Bradford business starts year with support for communities
January is known for being one of the gloomier months, so to bring some brightness to the start of 2024, STRI Group – a global design, engineering, and management consultancy based in Bingley – announced their Month of Giving campaign, dedicated to supporting local charities and community groups in West Yorkshire and beyond.
Launching in January 2023, last year £2,000 was donated across local and nationwide clubs and charities which were nominated by the team based all across the UK. The grants supported Oakworth Juniors, Bingley Juniors FC under 12s, Aldershot Cricket Club, Bingley Congs Cricket Club and Mogstock Charity Music Festival which raises money for a number of local charities in Surrey, and Ingrow Cricket Club.
The grants given helped towards the purchasing of kits and equipment, facility improvements and uniforms for their members/team. STRI Group is delighted to share the continuation of its community grants this year, keen to support causes that matter most to staff.
Lee Penrose, Chief Operating Officer at STRI Group, said: “It’s great to be able to give support to local charities and community clubs which are close to the hearts of our employees. It’s fantastic to see how the STRI grant money is used and we’re delighted to be continuing this initiative alongside our other charitable commitments.”
In one act in the Month of Giving, STRI Group has been taking donations of good quality clothing for The Clothing Bank charity. The charity’s mission is to help those who may be struggling with the rising cost of living and give them the security to be able to clothe themselves.
The clothes are distributed across the UK for families who are in need, and struggling for warm clothes during the winter months. The Group donated over 100 pieces of clothing to the charity.
North Lincolnshire plans Jobs Expo for next month
North Lincolnshire businesses are being invited to invest in a motivated and skilled workforce by signing up to the next North Lincolnshire Jobs Expo.
Taking place on Wednesday 7 February at Scunthorpe’s Baths Hall, the Jobs Expo attracts hundreds of jobseekers and upskillers looking to improve their prospects and develop their careers.
Employers who have attended previous Expos report positive results from engaging directly with potential new employees.
Comments from businesses who attended previous Jobs Expos include:
An exit poll of jobseekers at a previous Jobs Expo found that of the more than 700 people who attended the event, the majority said it had been worthwhile them attending, with 64 per cent saying they would definitely be applying for vacancies and another 14 per cent said they were considering doing so.
Cllr Rob Waltham, leader, North Lincolnshire Council, said: “The kind of North Lincolnshire we want to build relies on high-quality sustainable jobs and a well-trained, motivated workforce. The Jobs Expo helps us go a long way towards achieving this.
“Supporting businesses to get the people and skills they need will help build back our economy better, improving the outcomes for every family in North Lincolnshire.”
Exhibitors will get access to the Baths Hall from 11am and free parking is available in nearby Dene Avenue. A table and power is supplied as well as free tea and coffee. Further information: events@northlincs.gov.uk
Developer of new 131-bed care home in Wakefield secures £14.6m development loan
Specialist property finance lender Atelier has revealed a £14.6m development loan to the Athena Healthcare Group.
It will fund the construction of a new care home in East Ardsley, West Yorkshire.
Located near Wakefield, the purpose-built scheme is well located and will provide much needed care facilities in West Yorkshire, including residential, nursing and dementia services.
Due for completion by April 2025, it is set to provide 131 single bedrooms, each equipped with ensuite wet room facilities.
Martin Gilsenan, Chief Originations Officer at Atelier, said: “We are delighted to partner with Athena Healthcare Group to finance the construction of this high-quality development in East Ardsley.
“Care is an asset class that we understand well, and we are looking forward to strengthening our relationships with Athena in the months ahead.”
Whitby’s £10m investment aims to boost job opportunities in offshore industries
Whitby is to get a £10m investment to help its residents find work in the expanding offshore renewable industries.
North Yorkshire Council is consulting on a new Whitby Maritime Hub designed to provide training and certification opportunities for the maritime, marine and offshore industries.
The funding for the project will come from the £17.1m given to Whitby as part of the Government’s Town Deal scheme.
Building on Whitby’s proud fishing and sailing heritage, the hub in Endeavour Wharf will address a local need to develop a better supply of technical abilities in the maritime sector and put the town at the forefront of the growing renewable energy sector.
Additionally, the hub will also provide accommodation for maritime businesses and service providers to further support economic growth in the Whitby area.
Coun Derek Bastiman said: “We believe the hub will become a renowned centre of maritime training and enterprise which strengthens and supports the local seafaring sector.
“It will open the door to new economic and tourism growth for Whitby and Scarborough as well as the wider area and help to create the next generation of skilled apprentices and professions by providing first-class training and facilities for a range of maritime industries.
“Young people will have a route into highly-skilled maritime trades, like the growing offshore renewables sector, from on their doorstep without the need to travel out of the area.”
The hub has been designed to blend in with the existing views of the town. Workshops on its ground and first floors will house the current and new wharf-based operations and functions of the Harbour Authority.
There will be space for classroom-based training, engineering workshops and marine biology laboratories, offering opportunities for training and employment in areas ranging from marine biology to emerging industries, such as off-shore wind.
The second floor will be an office space for marine-based start-up businesses and other maritime industries. The space is intended to be occupied by local, regional and national businesses and organisations, making Whitby a hub of maritime activity.
This will enable new and innovative commercial opportunities in the maritime and marine sectors to support growth in the local economy and reduce reliance on seasonal employment.
Sheffield councillors urge ban on sale of single-use vapes
The Leader of Sheffield City Council has written to the Secretary of State asking for single-use disposable vapes to be banned.
The pressure has come from councillors in response to the increase in youth vaping and the impact these devices are having on the environment and the wellbeing of children in the city.
Councillor Tom Hunt, Leader of Sheffield City Council, sent the letter to Rt Hon Victoria Atkins, Secretary of State for Health & Social Care in which he said: “We’re already working hard in the city to reduce smoking which still causes many preventable deaths each year. Vaping has been shown to help adult smokers to quit, but if you don’t smoke you shouldn’t start vaping. We need to continue to do our best to stop children smoking, but we don’t want them to start vaping either. We want children to be healthy and not enticed by harmful products that are being deliberately marketed to them.
“In addition, the environmental impact of disposal single use vapes is too significant to not take action. This is why we are putting pressure on the Government to do what they can to protect children from harm and to protect the environment by banning the sale of single-use disposable vapes.
“We urge the Government to ensure sufficient investment for enforcement action by Trading Standards and others to restrict the supply of illicit vapes. The additional £30m proposed by Government to target underage sales and the import of illicit tobacco and vaping products will not be enough to effectively respond to the increased demand for the illegal market. As well as sufficient resources for enforcement, counteracting this increase will require further regulation, such as that proposed in the recent consultation, to reduce the affordability, appeal and accessibility of vapes to children. Colourful, child-friendly packaging and advertisements designed specifically to target and appeal to children and young people is wholly inappropriate.
