As Penny Mordaunt fails to reach the necessary 100 backers to become PM, and with Sir Graham Brady perhaps unintentionally casting doubt on Boris Johnson’s claims by saying that Rishi Sunak was the “only” candidate to earn 100 backers, the decision of the next Prime Minister of the UK has been decided. This marks the second PM unelected by the people, and the third this year, and is likely to lead to a very divided reception from the public. Businesses in the region, however, will be hoping for swift and decisive action to bring back some modicum of stability.

Nottingham law firm Nelsons has promoted eight employees within several of its departments. Chartered financial planner Zoe Till has been promoted to investment director, while Gemma Hopper, Sarah Gregory, Emily Rose, Katy Swinbourne and Ella Sheppard have been promoted to senior associate. Additionally, Paula Haverkamp has been promoted to associate and litigation executive and Sophie-Laura Noble to senior marketing executive – collectively these eight women have worked at Nelsons for more than 46 years. Investment management specialist Zoe, who has 19 years’ experience in the financial services industry, joined Nelsons in 2018. She said: “In the four years since I joined the firm, Nelsons has continued to grow and adapt in response to the changing needs of our clients.  We are a truly motivated team that provides comprehensive, high-quality advice and expertise that empowers the clients, trustees and attorneys that we work with. “My main priority moving forwards is to continue to bolster our profile in the region and beyond.” The promotion comes after a successful year for Zoe, which saw her make it to the final eleven in the ‘Financial Adviser of the Year – Midlands and East Anglia’ category at the Women in Financial Advice Awards. Meanwhile, Gemma joined Nelsons’ Court of Protection team in 2019, after qualifying as a solicitor with the Office of the Public Guardian (OPG) in 2016, to specialise in powers of attorney and deputyship appointments. Gemma has recently been awarded the Solicitors for the Elderly Full Accredited Membership for her work in advising on older client law. Sarah, who joined the corporate team last year, specialises in acquisitions, mergers and disposals, while Emily, who joined Nelsons in 2014 before qualifying in 2018, advises on medical negligence cases and inquests. In the family department, Katy, who joined the firm in 2020, advises on children law matters, including adoption and care proceedings, whereas employment specialist Ella advises businesses and individuals on a wide range employment law and HR matters. She joined Nelsons in 2015 and qualified as a solicitor four years later. Paula has been advising on landlord and tenant issues as well as property disputes at Nelsons since 2001 and Sophie-Laura, who joined in 2019, is an integral part of the firm’s marketing team. Stewart Vandermark, chief executive at Nelsons, said: “Zoe, Gemma, Sarah, Emily, Katy, Ella, Paula and Sophie-Laura have all shown great dedication in their respective areas of expertise. The fact we have so many people being promoted in Nottingham is a testament to all their hard work and I’d like to congratulate everyone on their promotions.”

The UK’s world-leading manufacturing industries will be boosted thanks to £211 million in new government funding for battery research and innovation, Business Secretary Jacob Rees-Mogg confirmed today. The record funding uplift will be delivered through the Faraday Battery Challenge, which began in 2017 and supports world-class scientific technology development and manufacturing scale-up capability for batteries in the UK. It will help to seize on opportunities for private investment and economic growth in industries where powerful, fast charging batteries will be essential – such as domestic energy storage and electric vehicles. The funding, from last year’s settlement, will be delivered between 2022 and 2025 by UK Research and Innovation with support from the Faraday Institution, Innovate UK and the UK Battery Industrialisation Centre. It’s claimed it will help the sector deliver 100,000 jobs in battery gigafactories and the battery supply chain by 2040. Supporting the scale-up of these technologies and unlocking further private investment supports the sustainable growth of the economy, which will boost tax revenues and put public services on a more secure footing for the longer term, helping improve life for people across the UK. Speaking on a visit to the £130 million UKBIC, the UK’s centre of excellence in battery manufacturing, Business Secretary Jacob Rees-Mogg said: “Safe and powerful batteries are central to our plans to grow the industries of the future. From our world leading renewables industry, to our growing electric vehicle sector, secure supplies of batteries are key to delivering jobs and prosperity.

“The Faraday Battery Challenge has brought the UK’s greatest minds and best facilities together to develop the innovations that will help us achieve this goal. The work it has done since 2017 has laid the groundwork for our future economic success and I am pleased to confirm this work will continue, supported by record funding.”

Extra training is being provided for HGV drivers and food production is becoming more automated thanks to funding worth more than £1.6 million from the Greater Lincolnshire Local Enterprise Partnership.

In a startling move, Boris Johnson has pulled out the leadership race for PM, saying that although he had the necessary backing of 100 MPs (over 50 have come forward at this time, but not 100) he feels that it is “not the right time” to run for PM. Saying that the Conservative party needs unity and that Rishi Sunak did not accept his offer of withdrawing and granting him the position, Boris Johnson will not run. This has obviously placed Sunak in pole position to become the next Prime Minister, although Penny Mordaunt is said to be working to gather votes to challenge him.

Detailed proposals about a devolution deal, and what it would mean for our area, are due to be discussed at key council meetings in around two weeks’ time. Derbyshire County Council, Nottinghamshire County Council, Derby City Council and Nottingham City Council are all due to decide whether to formally agree that a public consultation about the devolution deal proposal should go ahead. Nottingham City Council is the first to discuss the deal at its Full Council meeting on Monday 31 October, followed by Derbyshire County Council and Derby City Council on 2 November and Nottinghamshire County Council on the 4 November. The leaders of each of the four councils signed up to work on a devolution deal on 30 August this year at Rolls Royce in Derby, after the Government offered the region a package of new powers and funding worth £1.14 billion. Since August, the councils have been working on agreeing a more detailed proposal, which includes more information about how devolution would work in our area. These proposals will be discussed for formal agreement at key council meetings and if approved, a full consultation would follow – giving residents, businesses and other organisations the chance to have their say on the plans for a devolution deal, which would see a new regional mayor and new type of combined authority created for the area from 2024. The deal would provide the region with a guaranteed income stream of £38 million per year over a 30-year period, and would cover around 2.2 million people, making it one of the biggest in the country. Barry Lewis, Leader of Derbyshire County Council, Ben Bradley MP, Leader of Nottinghamshire County Council, Chris Poulter, Leader of Derby City Council, and David Mellen, Leader of Nottingham City Council, said in a joint statement: “Formal agreement by each council to go ahead with a consultation is the next step towards securing a devolution deal. It is about us getting a better deal for our area and getting a fairer share for both counties and cities. It would mean more funding for our region, and the opportunity to have more meaningful decisions made here, near the people they affect, rather than in London, so they can be better tailored to local needs. “We don’t want to miss out on the advantages that devolution would bring, which other parts of the country have already benefited from. We’ve seen how devolution has given other areas more influence, a bigger presence, and helped them make the most of their strengths. “We want to make the most of every opportunity, and of every penny, that this deal would bring in. It could make a real difference to people’s lives. More and better jobs, more investment, economic growth, better transport, housing, skills training, an improved greener and more sustainable environment. These are the things we all want to see, as we work together for a better future for the East Midlands. “We often haven’t had the same level of funding or influence as other areas, and this is a big chance to turn that around and help us live up to our potential as a region.” If the devolution deal goes ahead, it would create the first of a new type of combined authority, which requires new legislation from central government. As well as the £1.14 billion, it would include an extra £16 million for new homes on brownfield land and control over a range of budgets like the Adult Education Budget, which could be better tailored to the needs of people in our communities. The devolution deal on the table is a level 3 deal, which offers the most local powers and funding. It would mean a new elected regional mayor, like those which already exist in other areas, who would represent both cities and counties. The role of the mayor would be to look at major issues affecting the whole region, give the area a bigger voice, and take advantage of local knowledge and expertise. The deal means that a future mayor and combined authority could:

• Work towards Net Zero and cleaner air with new low carbon homes, retrofit existing houses with external wall insulation, promote the use of renewable energy, and protect and enhance green spaces, like areas for wildlife and green verges
• Build on the region’s existing knowledge and expertise in green technology and promote the growth of a future low carbon economy by investing in related skills training at colleges and other training facilities
• Set up and coordinate smart integrated ticketing and enhanced concessionary fares schemes
• Work with Homes England to build more affordable homes, by using new powers to buy land and housing (with district and borough council consent)
• Enhance the region’s economy by developing new commercial space to maximise opportunities
• Work with national Government on initiatives to address homelessness, domestic abuse, community safety, social mobility and support for young people
• Take advantage of economies of scale by using combined and devolved budgets to deliver more value for taxpayers and more cost-efficient services.

The four councils sent initial proposals to negotiate a combined devolution deal in March, after being named as pathfinder areas by the Government in February and then being invited to apply for a devolution deal. The councils have been working with the Government to develop details of the deal, alongside discussions with district and borough councils, businesses and other stakeholders. If the devolution deal is formally approved, the Government would pass legislation bringing a new mayoral county combined authority for the East Midlands into existence. The first election for a regional mayor for Derbyshire, Nottinghamshire, Derby and Nottingham would be in May 2024. The regional mayor would lead the new combined authority, which would also include representatives from local councils, with decision making powers and resources moving from London to the East Midlands. Local businesses would also have a voice, as well as other organisations. The devolution deal would not mean scrapping or merging local councils, which would all continue to exist as they do now and would still be responsible for most public services in the area. The mayor and combined authority would instead focus on wider issues like transport, regeneration, and employment across both cities and counties.