UKIMF warns that Britain faces the biggest shock in the G7Britain faces the biggest economic shock in the G7 this year, the IMF has warned, as it cut its UK growth forecasts for this year and next. The IMF cited the "impact of higher energy prices”. By contrast, energy exporters such as the US and Canada will see a much smaller hit to growth. Labour scraps carbon charges from 2028The UK government will scrap an extra charge that fossil fuel power stations must pay for their carbon dioxide emissions, as cost concerns rise up the political agenda. Reeves vows to break the link between gas and electricity pricesRachel Reeves has said she wants to cut the link between electricity and gas prices in the UK as the government seeks to reduce its exposure to volatile fossil-fuel costs. The chancellor said that she and Ed Miliband, the energy secretary, would set out more details within days on ways of ensuring the wholesale price of electricity is set more often by renewables, reviving a thorny issue that has been subject to exhaustive review in recent years. READ: ANDREW MONTFORD DISMISSES REEVES’ CLAIM TO DECOUPLE GAS FROM ELECTRICITY PRICES Major AI data centre on collision course with Net ZeroBritain’s first proposed “nationally significant” data centre would be powered by gas, putting the government’s ambition to create an AI superpower on a collision course with its net-zero goals. Kemi Badenoch: Net Zero is stopping the UK from re-armingSpeaking to the London Defence Conference at the weekend, Kemi Badenoch, the leader of the Conservative Party, said that Britain’s energy policy was standing in the way of the country re-arming. She said: “How can our defence industry compete when it pays four times more for electricity than American businesses?”
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