Conservative leadership candidate Rishi Sunak has unveiled plans to make Britain “energy secure” — including boosting North Sea gas production — as he seeks to make up ground in the race to become prime minster.
He said he would legislate to make the UK “energy independent” by 2045, and if elected leader he would put in place immediate support for households — particularly the most vulnerable — faced with soaring energy bills.
The announcement came as the UK reels from rampant inflation and a stuttering economy.
Mr Sunak pitched the energy vision as he tries to make up ground on Liz Truss, the only other runner still in the race.
He pledged urgent action to increase domestic energy supply with the creation of a new energy security task force and deregulation in the North Sea to allow gas production to increase over the winter.
“The first rule of any crisis is to acknowledge that you are facing one. We are facing an energy crisis and I have a plan to both get us through it and make sure this is a one winter crunch,” Mr Sunak said.
“I will lead a national effort to increase our domestic energy supply and cut our energy waste. I will also make sure our country is never put into this position again.
“I will leave no stone unturned to secure British energy sovereignty. We cannot rely on imported energy so I will legislate for the UK to be entirely energy independent by 2045 to accelerate investment.
“My plan will get us through this winter crisis and provide energy security for Britain.”
He said regulations governing offshore wind, rooftop solar and nuclear would be overhauled to scale up supply, while fracking for shale gas would be allowed where there is local consent.
He would also take steps to reduce energy waste, with low cost measures to insulate millions of homes.
In the longer term, he promised to reform the energy market — which was no longer “fit for purpose” — to cut bills, with the establishment of a new dedicated energy department to lead the change.
Mr Sunak said he would legislate to ensure there is no repeat of the looming winter crisis when price cap rises threaten to take bills above £5,000 by early 2023.
The price cap, which is reviewed every three months and designed to protect consumers from price swings, was at £1,042 in January 2019.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Profile
Company name: Marefa Digital
Based: Dubai Multi Commodities Centre
Number of employees: seven
Sector: e-learning
Funding stage: Pre-seed funding of Dh1.5m in 2017 and an initial seed round of Dh2m in 2019
Investors: Friends and family
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
More on animal trafficking
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
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