Starmer to Launch GB Energy, Investors’ Group, Border Force

(Bloomberg) -- Prime Minister Keir Starmer will in the coming days launch Great British Energy, a public company designed to spur investment in clean energy, a new border agency, and convene a task force to advise on a national wealth fund, as his government looks to show it is getting off on the front foot.

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On Tuesday, Chancellor of the Exchequer Rachel Reeves is expected to reveal plans for a new Treasury task force, designed to help drum up private investment focused on Starmer’s so-called five missions, which include economic growth and clean power, according to people familiar with the matter who requested anonymity discussing future plans.

A day later, the government is due to announce the first steps for the formation of GB Energy, with a formal launch next week including a mandate to co-invest alongside private funders in wind and solar projects, as well as hydrogen and carbon capture and storage, the people said. It will be based in Scotland. The timings of the announcements are provisional, the people said.

Also on Tuesday, the tax office will publish figures about the prevalence of people with non-domiciled status, ahead of a promised crackdown on those who don’t pay tax in Britain by registering themselves as living overseas.

Home Secretary Yvette Cooper also plans to launch a new Border Security Command as soon as Tuesday with the aim of stopping small boats carrying asylum seekers across the English Channel, the people said.

Starmer is seeking to show British voters that he’s delivering on the change he promised in the election campaign.

Over the weekend, Starmer began a tour of the country, while Defense Secretary John Healey visited Ukraine with a promise of extra military aid, and Foreign Secretary David Lammy began a tour of European allies. Health secretary Wes Streeting plans this week to meet with doctors’ unions in a bid to end long-running strike action in the National Health Service, while Education Secretary Bridget Phillipson began a drive to recruit 6,500 new teachers.

Reeves on Monday used her first speech as chancellor to set out the government’s plan for growth, including an overhaul of the nation’s planning rules. On Tuesday, a group set up to advise her on the creation of a national wealth fund is set to report its findings, according to a person familiar with the matter. The panel is led by former Bank of England Governor Mark Carney and includes Aviva CEO Amanda Blanc and Barclays chief executive CS Venkatakrishnan. Carney is the chair of Bloomberg Inc.’s board.

(Updates with more details from third paragraph.)

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