WIND OF CHANGE
Rachel Reeves ends ‘absurd’ ban on onshore wind farms amid energy crisis
The plans were welcomed by developers and the energy industry but raised concerns it could mean local opposition is silenced
RACHEL Reeves has made the “absurd” ban on onshore wind farms her first target for an instant shake-up.
The Chancellor yesterday seized upon the energy crisis, caused by Russia’s invasion of Ukraine, to underline the importance of homegrown security and cheaper bills for Brits.
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After a decade of Tory opposition to onshore wind farms, the Chancellor unveiled plans for wind farms to leapfrog the quagmire of local council planning applications.
By deeming them “nationally significant infrastructure projects”, they will instead be approved by Energy Secretary Ed Milliband.
The plans were welcomed by developers and the energy industry but raised concerns it could mean local opposition is silenced.
However, Brits are warming up to onshore windfarms with public support rated at 78 per cent, according to the Department for Energy and Net Zero’s recent polling.
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Labour documents released yesterday said that communities should “rightly benefit from hosting local renewable energy infrastructure”.
The promise of cheaper bills after last year’s energy crisis could be enough of an incentive, particularly if neighbourhoods are compensated in return for having a windmill.
This is easier said than done as it requires more joined up thinking between energy suppliers, developers and the grid.
More wind farms will also require more grid connections — needed to transfer power between generators and homes and factories — and one of the biggest complaints in business is the queues to get a site up and running.
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Octopus Energy has said that it has already identified potential onshore sites that could provide 1.3 GW of energy, enough to power all the homes in Birmingham and Manchester.
Boost to pubs as Labour promises new powers to protect closure-threatened boozers — and hints beer duty will be frozen
AFTER spending the last few years promising the City that Labour would be pro-business and pro-growth, the first female Chancellor in history yesterday declared she had “no time to waste”.
Ms Reeves used her first speech to say: “After 14 years Britain has a stable government that respects business, wants to partner with business and is open for business. In an uncertain world Britain is a place to do business.”
However, business chiefs, developers and investors were still left wondering how long it would take to get the much-promised growth.
GROWTH WHEN
WHEN will ordinary people feel better off as a result of the Chancellor’s plans for growth?
Brits are still feeling the squeeze from two years of punishing price rises in the cost-of-living crisis and many are having to make cutbacks to pay essential bills.
Ms Reeves told The Sun that the reforms would be judged on whether “working class kids from ordinary backgrounds have more opportunities than they do today”.
She listed hiring extra teachers to boost children’s education and also said that it was important for town centres to be revived.
She promised an overhaul of the business rates system and said a shake-up of planning rules would encourage investment in the UK.
Reeves said that Labour’s housebuilding initiative would mean “more people can have a home of their own, whether that is to buy or for social rent.
That is one of the key determinants of whether people are feeling better off and whether they have a good standard of living”.
She said it would be important for a mix of housing to appeal to those getting on the ladder or downsizing.
But she would not be drawn on when targets for 300,000 new homes a year would be met.
These all sound positive steps but clearly Brits will have to wait a little bit longer for money to be jangling in pockets.
GROWTH HOW
IT is easy to say you’re going for growth but much harder to do.
New Chancellor Rachel Reeves has set up a “Growth Mission Board”, which will meet before the end of the month, as well as a “Growth Delivery Unit” in the Treasury.
But it is unclear how either of these new divisions will deliver the growth they are tasked with.
Ms Reeves must hope her breakfasts with business leaders have paid off — and that bosses are now prepared to write cheques to fund her bold plans.
She has also called on former Bank of England Governor Mark Carney to make recommendations for a British Wealth Fund.
She stopped short of giving further details on what this supposed £7.3billion fund will be.
Details around Great British Energy also need to fleshed out, namely how the firm will be funded and what it will include.
Onshore wind farms will have a major part to play, given her enthusiasm for them.
And there has been no mention of whether the first female Chancellor will continue with the Invest in Women Taskforce, which was in the process of raising £250million to help fund female entrepreneurs.
Presumably, this will be one of the topics to be discussed when Ms Reeves hosts her inaugural business summit within the next 100 days.
By that time, she may have already lifted the famous red briefcase and delivered her first Budget too.
INTEREST RATE CUT HOPE HIT
ONE of the Bank of England’s rate-setters has dismissed hopes of an August interest rate cut.
Economists had predicted rates will be lowered from their current 16-year high of 5.25 per cent to 5 per cent.
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It would make mortgages more affordable and cut debt costs for the government.
However, Jonathan Haskel said he wanted to keep interest rates steady because wages keep rising and that could keep driving inflation higher.
Inflation has fallen to its 2 per cent target but basic wage growth remains at 6 per cent.
Mr Haskel said this fall was “temporary” and would rise again in the months to come.
He said yesterday: “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably.”
Mr Haskel had voted to raise rates as recently as February, but had been voted down by others on the Bank’s panel.
WEATHER TV BOOST
SHOPPERS ditched buying summer outfits and garden furniture in last month’s rainy and chilly weather and spent it on TVs to watch sport instead.
Retail sales slipped by 0.2 per cent in June, according to the British Retail Consortium.
Gardening products and clothing and footwear were hardest hit. Karen Johnson, head of retail at Barclays, said some fashion brands had discounted earlier than normal to shift seasonal clothes.
CHICKEN HOTS UP
THE owner of Ask and Zizzi is planning to cash in on Britain’s hunger for fried chicken with plans for 60 new restaurants next year.
Azzurri Group wants to bring Californian chain, Dave's Hot Chicken, to the UK with the first restaurant planned for London.
There is already lots of competition with around 4,500 chicken shops across the UK.
Dave’s Hot Chicken’s menu includes a “Reaper” hot spice level — which requires a signed waiver for diners who want the most fiery taste.
OCADO has had a boost after its Japanese retail partner Aeon said it would build a third robotic warehouse.
Its shares rose by 6.5 per cent, three weeks after Ocado’s shares fell when its Canadian partner Sobeys halted work on a planned warehouse.
18M SUPERLOYAL
SUPERDRUG now boasts more loyalty card members than Boots as competition between the health and beauty retailers heats up.
Superdrug yesterday said it has 18.1 million members of its loyalty card with 60 per cent of sales made through its membership.
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Boots, which has had its Advantage Card since 1997, said last month it had 16.7 million active members.
Company accounts reveal Superdrug’s pre-tax profits rose 43 per cent from £77.8million to £111.6million in the past year.