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Inflation surges to highest in 16 years
Larry Elliott and Ashley Seager, Guardian
Britain’s annual inflation rate surged to 3.3% last month – its highest in 16 years – as dearer food and drink helped push up the cost of living, the government said today.
The increase from 3% in April will trigger an explanatory letter from Mervyn King, the governor of the Bank of England to the chancellor, Alistair Darling.
With global food and fuel prices rising rapidly, the City had been braced for inflation to move more than a percentage point away from its target of 2%, but was surprised by the scale of May’s increase. Inflation is predicted to rise further over the coming months, peaking in the autumn at around 4% on the government’s preferred consumer prices index (CPI) measur
(17 June 2008)
Brown voices concern over record oil prices
Terry Macalister and Graeme Wearden, Guardian
The oil price spiralled to an all-time high today of almost $140 a barrel, leading Gordon Brown to declare it was “the most worrying situation in the world”.
The spiral upwards continued on the back of a weaker dollar and a fire on a North Sea oil platform with traders, dismissing as too little, too late a weekend promise by Saudi Arabia to pump more oil to increase supplies.
A barrel of US crude for delivery in July hit $139.89 in US trading, breaking through the previous high of $139.12 set last week. North Sea Brent crude also hit a record high today, touching $139.32 a barrel.
(16 June 2008)
Brown says world needs 1,000 extra nuclear power stations
Colin Brown, Independent
Gordon Brown has signalled he wants Britain to play a major role in the race to build an extra 1,000 nuclear power stations across the world as part of his vision for ending the global “addiction to oil”. The Prime Minister, who will be flying to Saudia Arabia for an emergency oil summit next week, said in spite of the risks of terrorism, Africa could build nuclear power plants to meet growing demands for energy.
He promised that by the end of the month the Government would publish its plans for a 700 per cent increase in energy from renewable sources such as wind farms, wave power, biomass, and solar energy.
But he made it clear that nuclear must play an increasing role in Britain’s energy.
(13 June 2008)
Climate change protesters hijack coal train
Martin Wainwright, Guardian
Climate change campaigners have hijacked a train carrying coal to Britain’s biggest power station, swarming on to the roof of its 20 huge trucks.
The 40 protesters stopped the regular delivery service to Drax in Yorkshire disguised as railway workers in yellow warning jackets and waving red flags, having read up on standard railway safety rules.
The ambush took place at an iron girder bridge over the river Aire between the villages of Gowdall and Hirst Courteney at 8am BST. One group then used the bridge girders and climbing equipment to scale the 12ft high trucks.
They hoisted a huge banner reading “Leave it in the ground” – referring to the coal destined for the power station’s furnaces. The protesters carried food, water and even a portable lavatory with the intention of being able to remain on board for several days.
(13 June 2008)
Tories to block third runway at Heathrow
Nicholas Watt, Guardian
A Conservative government is likely to block a third runway for Heathrow airport, David Cameron indicated yesterday as he criticised Gordon Brown for “pig-headedly” pressing ahead with the scheme.
In his first big environment speech of the year, the Tory leader called on the government to make Heathrow “better, not bigger” and denied that the party was abandoning its green agenda.
(17 June 2008)
Related at the Guardian: Green policies vital even when economy slows, says Cameron.
