Starmer Seeks to Expand Service Exports in UK Trade Strategy
Prime Minister Keir Starmer's government said on Wednesday that it wants to use trade deals to expand the acceptance of such professional accreditations outside the UK. That could open up new markets for UK firms engaged in law, accounting, and other highly regulated occupations by removing a major hurdle for their workers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
WP urges Government to engage widely, explore all solutions following National Day Rally 2025
SINGAPORE – The Workers' Party (WP) has urged the Government to engage widely and explore all policy suggestions in good faith, including previously untapped ones. In its response to the 2025 National Day Rally, the opposition party said Singapore should 'leave no stone unturned' in collective efforts to build a truly resilient nation for the future. The WP issued its statement following Prime Minister Lawrence Wong's Rally speech at ITE College Central on Aug 17, where he called for Singaporeans to unite to write the next chapter of the country's history and outlined new schemes to support workers and independent living for seniors, among others. PM Wong also spoke extensively about the challenges Singapore faces, including an unstable global economy and the rise of artificial intelligence (AI) impacting jobs and businesses. The WP addressed some of the new initiatives, and added its suggestions and concerns. On government efforts to address economic concerns, WP said it agrees that Singapore's economy needs to 'keep up with the times'. Responding to a new scheme announced by PM Wong during the Rally where Community Development Councils will match workers with jobs near their homes, the WP said: 'We agree with the approach of improving job-matching efforts for Singaporeans, and ask that the relevant organisations accelerate the setting up of this programme with the economic uncertainty ahead.' It added that in the party's experience, many residents referred to NTUC's Employment and Employability Institute receive career counselling, but 'not the direct job-matching support they truly need'. 'The new approach reflects what many job seekers are looking for: not just advice, but real opportunities and connections to employers who are hiring,' it added. It urged the Government to also tackle 'present concerns surrounding businesses and employees', including rising rental costs, skills-related underemployment and 'slow rate of real income growth of 0.7 per cent per annum over the past five years'. The WP reiterated some proposals from its GE2025 manifesto. These included having JTC Corporation, which oversees industrial infrastructure, expand its market share to offer low-rent options for small and medium-sized enterprises, and for a statutory minimum wage to be established. The party also responded to PM Wong's announcement of a new government-funded traineeship scheme for graduates from the Institute of Technical Education, polytechnics and universities. PM Wong said the scheme will begin as a 'focused' one which can be scaled up if the economy worsens. The WP said it recognises the importance of helping young graduates and mid-career workers find their footing, but urged the Government to ensure the programme is designed with safeguards so that it is effective and fair. The party said: 'State-sponsored internships and apprenticeships must not be used by companies only as a source of cheaper, subsidised labour. 'There should be clear performance metrics and a transparent commitment from participating companies to consider trainees for full-time employment once the training period ends.' It is also essential that all trainees receive basic workplace protections, including paid sick leave and safe working conditions, it added. The party will advocate for fair, transparent and sustainable employment pathways, especially for younger Singaporeans and those navigating mid-career transitions, it added. On the impact of AI on schools and the economy, the WP said it agrees with the importance of preparing students for life, not just exams – which PM Wong said the Government is doing more of. The WP called for an increase in the number of allied educators, which can lead to a 'meaningful reduction in class sizes' so students receive the attention they need to develop essential soft skills such as empathy and adaptability. The opposition party also called on the Government to improve social safety nets in the light of the ongoing disruptions caused by AI adoption, and reiterated its call for Singapore to introduce redundancy insurance. The WP said it looks forward to championing these ideas and others in the 15th Parliament. The party will have 12 MPs in the House when Parliament reopens on Sept 5, its largest-ever contingent. Progress Singapore Party (PSP) chief Leong Mun Wai also released a statement following the Rally in which he welcomed immediate support for new graduates but raised concerns that these proposals 'risk being mere Band-Aid solutions that do not address our country's deeper structural issues'. PSP also said the new government-funded traineeships raise the question of whether tertiary education is adequately preparing young people for the workforce 'if graduates are increasingly expected to settle for traineeships instead of full-time jobs'. Singapore must confront some fundamental questions in the years ahead, and the PSP believes these are not questions the Government can answer alone, said Mr Leong. 'Ultimately, the National Day Rally provided some ideas, but many critical questions on key issues such as housing affordability and cost of living were left unanswered,' he said. 'The PSP will continue to push for more fundamental reform in these areas and provide alternative policy proposals.' Watch PM Wong's National Day Rally speech here: Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Business Upturn
2 hours ago
- Business Upturn
Goldman Sachs keeps buy on USL with Rs 1,575 target, says long-term tailwinds intact
By Markets Desk Published on August 18, 2025, 08:22 IST Goldman Sachs has maintained its buy call on United Spirits Limited (USL) with a target price of ₹1,575 after the company delivered a first-quarter performance ahead of topline estimates. The brokerage noted that volume growth was muted when adjusted for the impact of Andhra Pradesh, but said the overall showing was encouraging given the operating environment. Goldman Sachs expects structural benefits from the UK-India free trade agreement to begin accruing from the first quarter of FY27, potentially providing tailwinds for both growth and margins. It has, however, trimmed FY26–28 earnings per share estimates by 2–4% to reflect near-term pressures. Despite the cut, the brokerage remains constructive on USL's medium-term outlook, citing strong premiumisation trends and the company's ability to expand margins through disciplined cost control. Disclaimer: The views and recommendations made in this article are those of Goldman Sachs. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions. Ahmedabad Plane Crash Markets Desk at
Yahoo
6 hours ago
- Yahoo
British manufacturers lagging behind international competitors on automation
British manufacturing companies have been lagging behind international competitors over the last two decades, falling down global automation tables, according to a report. Use of robotics and AI systems was poor, with training of people in relevant digital skills well below what is needed to catch up, it was warned. The report by Make UK and Sage said nearly half of British manufacturers identify a lack of technical skills as the biggest hurdle to improving their use of innovative advanced technologies. Projects which do start often stall after implementation stage, because companies cannot find the help and advice they need to make the technologies work well. Seamus Nevin, chief economist at Make UK said: 'Time and again, we hear from small and medium-sized manufacturers that they're keen to adopt new technologies, but are being held back by fragmented support, complex funding systems, and a lack of accessible, appropriate digital skills training. 'If we want to unlock a £150 billion boost to UK GDP by 2035, we must make it easier for SMEs to adopt automation and AI.' A Government spokesperson said: 'We are taking a range of actions to remove the barriers holding back growth and unleash the potential of AI in our economy, including through the AI opportunities action plan. 'Our modern industrial strategy has also introduced ambitious plans to drive growth and investment across the UK, and our Plan for Change will ensure our country continues to be the best place to invest and do business.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
