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☆ UK considering extension of windfall tax on energy companies - source
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 3 (Reuters) - Britain's government is considering a plan to extend windfall taxes on oil and gas companies' profits, a government source said on Thursday, confirming a report in The Times which said the rate could be increased from 25% to 30% until 2028. The source confirmed that the idea was being considered as a way to raise around 40 billion pounds over five years which would help repair the public finances. The Times said the scheme could be expanded to cover electricity generators. Hunt is due to announced his budget plan on Nov. 17. Reporting by Elizabeth Piper Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

The top diplomats of the G7 rich democracies will join sessions in the western German city of Muenster focusing on Ukraine, China and the Indo-Pacific as well as Iran and Africa, among others. "G7 partners will now together kick off winter aid for Ukraine," German Foreign Minister Annalena Baerbock said at the opening of the event. The joint winter aid will be coordinated by G7 partners, she noted. Japan and Germany have agreed to work towards a military logistics pact, a Japanese government official said on Thursday after a bilateral meeting on the sidelines of the G7 meeting. The G7 session was being hosted by Germany as holder of the group's rotating presidency.

☆ UK's Rishi Sunak becomes richest ever occupant of Number 10
▼ + stars: | 2022-10-25 | by ( Alistair Smout | ) www.reuters.com time to read: +5 min

The wealth of Sunak's family puts him above the previous richest prime minister, who according to the Guineas Book of World Records was Edward Stanley. "Rishi Sunak's words will do nothing to reassure struggling people worried sick about the winter ahead," leader of the pro-EU Liberal Democrats Ed Davey said, calling Sunak "out-of touch". The couple faced criticism and public anger in April over Murthy's "non-domiciled" tax status which meant she did not pay tax in Britain on her earnings abroad. "This is the same Rishi Sunak who as Chancellor failed to grow the economy, failed to get a grip on inflation, and failed to help families with the Tory cost of living crisis," Labour deputy leader Angela Rayner said in statement on Monday. "And it's the same Rishi Sunak whose family avoided paying tax in this country before he put up taxes on everyone else."

New leader of the Britain's Conservative Party Rishi Sunak walks outside the Conservative Campaign Headquarters, in London, Britain October 24, 2022. The 42-year-old former finance minister becomes Britain's third prime minister in less than two months, after infighting and feuding at Westminster that has horrified investors and alarmed international allies. Sunak, Britain's youngest prime minister for more than 200 years and its first leader of colour, will replace Liz Truss who resigned after 44 days following a "mini budget" that sparked turmoil in financial markets. Sunak was blamed by many in the party when he quit as finance minister in the summer, triggering a wider rebellion that brought down the-then leader Boris Johnson. His appointment also marks a first in Britain as Sunak, a Hindu, becomes its first prime minister of Indian origin.

☆ UK's Sunak reinstates Braverman as interior minister
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 25 (Reuters) - British lawmaker Suella Braverman was reappointed as interior minister on Tuesday by Prime Minister Rishi Sunak, less than a week after she resigned from the role for breaching government rules. Braverman, 42, stepped down a day before former prime minister Liz Truss did after breaching email security rules, also voicing concerns about the direction of Truss's government in her resignation letter. First elected to parliament in 2015, Braverman is regarded as being on the right wing of the governing Conservative Party. A committed Brexit supporter, she was appointed as a minister in the Department for Exiting the European Union but resigned in protest at former prime minister Theresa May's proposed divorce deal. Reporting by William James, writing by Muvija M and Alistair Smout, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Dominic Raab returns to government as deputy PM under Sunak
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 25 (Reuters) - British lawmaker Dominic Raab was appointed deputy prime minister and minister of justice on Tuesday, returning to the roles he held for a year until September. Here are five facts about Raab:- Raab, 48, lost his roles as deputy prime minister and justice minister when Liz Truss entered Downing Street earlier this year and has been a staunch supporter of now Prime Minister Rishi Sunak in two leadership campaigns. - As deputy prime minister under Boris Johnson, Raab had to step in when the former leader was hospitalised in intensive care with COVID-19 in April 2020. - Raab is a hardline eurosceptic, who long campaigned for Britain to leave the European Union and was appointed to Brexit minister in 2018 by another former prime minister, Theresa May. - Raab ran against Johnson to become leader of the Conservative Party and prime minister in 2019.

☆ UK leadership contender Mordaunt "getting the numbers" - campaign spokesperson
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 24 (Reuters) - Penny Mordaunt, one of two candidates to be Britain's next prime minister, is still in the leadership race and is gaining endorsements, a campaign spokesperson said on Monday. “Penny is speaking to colleagues from across the party. She’s getting the numbers and she’s in it to win it," the spokesperson said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elizabeth Piper, William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: What is Rishi Sunak's solution to Britain's problems?
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +5 min

Although some of the challenges have changed since then, what does that campaign tell us about how he would govern? ECONOMIC CHALLENGESRegister now for FREE unlimited access to Reuters.com RegisterBritain is facing an economically toxic combination of recession and rising interest rates. The Bank of England is trying to tame double-digit inflation while consumers face rising costs and falling real incomes. ECONOMIC POLICIESIn a statement issued on Sunday announcing his candidacy, Sunak said the country faced a "profound economic crisis". He also refused to rule out Britain's withdrawal from the European Court of Human Rights.

Then, the former finance minister repeatedly described his predecessor's ideas as "fairytale" economics that would spook the markets. He will also be the first person of colour to become Britain's prime minister. "I grew up in the 80s and 90s, and I could not even imagine a non-white prime minister in my lifetime... COVID CHAMPIONSunak rose swiftly up the ranks of the Conservative Party, becoming, in 2020, one of the youngest finance ministers. When the COVID-19 pandemic hit Britain, Sunak dropped the Conservatives' small-state instincts to borrow massively and stave off the risk of an economic depression.

Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain's third prime minister in less than two months. "The United Kingdom is a great country but we face a profound economic crisis," Sunak said in a statement declaring his candidacy on Sunday. Should she fail to hit the threshold, Sunak would become prime minister. "He's not taking anything for granted at all," interior minister Grant Shapps, a supporter of Sunak, told BBC television. If chosen, the former Goldman Sachs analyst would be the United Kingdom's first prime minister of Indian origin.

read moreIn what would be an extraordinary comeback, Johnson, who was ousted by lawmakers just over three months ago, was running high up the ranks alongside Sunak to be crowned the next prime minister. "Boris Johnson is the character the Labour Party fears, Boris Johnson can win the next general election," he said. But Will Walden, who also worked for Johnson, told Sky News the former prime minister was returning from holiday and was taking soundings. Running in third is Penny Mordaunt, a former defence minister popular with Conservative Party members. 1/5 Boris Johnson and Rishi Sunak walk out of Downing Street, in London, Britain, December 1, 2021.

A Reuters tally of Conservative lawmakers who have made public declarations of support put Sunak on 70 backers, Johnson on 37 and Mordaunt on 20. 1/6 British Prime Minister Boris Johnson makes a statement at Downing Street in London, Britain, July 7, 2022. Luxembourg's Prime Minister Xavier Bettel said leaving the European Union had brought instability to Britain. Opposition parties, some newspapers and even a few Conservative lawmakers have called for a general election to be held. Some Conservative lawmakers have urged colleagues to coalesce around one candidate to avoid a bruising battle.

☆ Factbox: Conservative leadership race: who will replace Liz Truss as UK prime minister?
▼ + stars: | 2022-10-21 | by ( Kate Holton | ) www.reuters.com time to read: +4 min

LONDON, Oct 21 (Reuters) - A fast-tracked Conservative Party leadership election is underway to replace Liz Truss, who said on Thursday she would resign just six weeks after being appointed as British prime minister. If the person in second place does not drop out, then the Conservative Party membership will vote, with results announced by Friday. BORIS JOHNSONFormer prime minister Johnson, a journalist, has loomed large over British politics ever since he became London Mayor in 2008. Conservative lawmakers said Johnson, who has been on holiday in the Caribbean, could stand in the leadership contest and was taking soundings. Wallace, a former soldier, was defence minister for both Johnson and Truss, leading Britain's response to Russia's invasion of Ukraine.

☆ Comeback king: Boris Johnson considering a run for UK prime minister
▼ + stars: | 2022-10-21 | by ( Elizabeth Piper | ) www.reuters.com time to read: +5 min

British Prime Minister Boris Johnson speaks during his visit to EDF's Sizewell B Nuclear power station, in Sizewell, Britain September 1, 2022. Chris Radburn/Pool via REUTERSSummary Johnson taking soundings from lawmakersHad said he wanted a quieter lifeUnder investigation for lying to parliamentLONDON, Oct 21 (Reuters) - Out of power for a matter of months, comeback king Boris Johnson is once again being touted as the new leader of the governing Conservative Party and Britain's prime minister. For some Conservative lawmakers, Johnson is a vote winner, able to appeal across the country not only with his celebrity but also with his brand of energetic optimism. When Johnson left Downing Street, his aides said he was going to embrace a quieter life, no longer being "public property" and able to make more money by going on the speaker circuit. After his successor as prime minister, Liz Truss, quit on Thursday after just six weeks in power, the Ukrainian government Twitter account even published, and then deleted, a meme saying "Better call Boris".

☆ UK PM Liz Truss meeting 1922 Committee head Brady
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 20 (Reuters) - British Prime Minister Liz Truss is meeting with Graham Brady, the head of the 1922 Committee of Conservative lawmakers, a source in Truss's Downing Street office said. The Guardian's political editor Pippa Crerar said on Twitter that Truss had called the meeting. Truss is battling to retain her grip on power after a tumultous six weeks in the job that has included financial market chaos in response to her government's economic programme, and the replacement of two of her most senior ministers. read more read moreSeveral of Truss's own Conservative lawmakers have called on her to quit, with some saying they had submitted letters of no confidence in Truss to Brady, whose committee sets the rules for selecting and changing the party's leader. Register now for FREE unlimited access to Reuters.com RegisterReporting by Muvija M and Elizabeth Piper; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Truss says she will resign as PM
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - Liz Truss said on Thursday she would resign as prime minister, brought down by her economic programme that sent shockwaves through the markets and divided her Conservative Party just six weeks after she was appointed. A leadership election will be completed within the next week to replace Truss, who is the shortest serving prime minister in Britain's history. Register now for FREE unlimited access to Reuters.com Register"I recognise though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party," she said. "I will remain as prime minister until a successor has been chosen.

"I now expect the language of free markets and libertarianism to be consigned to scrap for quite some time. Truss had spent her summer campaign for the party leadership complaining about Britain's weak economic growth, productivity and low pay since the 2008 global financial crisis. Her solution was to challenge economic "orthodoxy" and demand faster, radical action to shake the economy out of its torpor. The Institute of Economic Affairs said of the economic plan: "This isn't a trickle-down budget – it's a boost-up budget." Register now for FREE unlimited access to Reuters.com RegisterEditing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

"The prime minister is not under a desk," Mordaunt said in parliament, keeping a straight-face despite the jeers and laughter from the opposition Labour Party facing her. Mordaunt now has her second chance to run for the top job, after just missing out on the final two in the contest to become the leader of the ruling Conservative Party earlier this year. She also promoted her patriotism, talking about her memories of the Falkland's conflict that helped to define former prime minister Margaret Thatcher. Her first post came as a local government minister in 2014, followed by armed forces minister and disabilities minister. Truss appointed Mordaunt as the leader of the House of Commons, charged with setting out the government business with her no-nonsense attitude gaining admirers.

☆ UK PM Truss commits to pension spending, no comment on benefits, foreign aid
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 19 (Reuters) - British Prime Minister Liz Truss said on Wednesday she was committed to increasing state pension payments in line with the level of inflation, but declined to give the same reassurance for welfare payments and foreign aid. Truss has been forced to hunt for deep spending cuts after the prime minister's now-scrapped economic programme shattered investor confidence in Britain's government and sent borrowing costs surging. Asked if the same reassurance could be given for welfare benefit payments, Truss said the country had helped the poorest by providing energy subsidies and that it would always help the most vulnerable. Asked about the country's foreign aid budget, Truss said more details would be set out in due course. Britain cut a long-standing policy of spending 0.7% of economic output on foreign aid during the coronavirus pandemic, reducing it to 0.5%.

☆ Senior adviser to UK PM Truss has been suspended - BBC
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 19 (Reuters) - One of British Prime Minister Liz Truss's most senior advisers has been suspended and is to face a formal investigation by the Propriety and Ethics Team, the BBC's political editor reported on Wednesday. The prime minister's Downing Street office did not immediately respond to a request for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Farouq Suleiman, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

☆ UK PM Truss has no plans to resign, political spokesman says
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 19 (Reuters) - British Prime Minister Liz Truss will be in power when a fiscal plan is delivered on Oct. 31 and has no plans to resign, her political spokesman said on Wednesday, before a vote in parliament on fracking which her party is treating as a confidence vote. Asked if Truss was 100% sure she would be in power by the end of the month, the spokesman said "yes" and asked if Truss would resign if she lost the fracking vote, he said "The prime minister's not resigning." Register now for FREE unlimited access to Reuters.com RegisterReporting by Elizabeth Piper, writing by Alistair Smout; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

"I think it is a shambles and a disgrace," he said, in a video that a couple of other Conservative lawmakers tweeted in agreement. "I have made a mistake, I accept responsibility, I resign," she said in a letter to the prime minister. As a replacement, Truss appointed former minister Grant Shapps, who said recently that Truss faced a massive battle to survive. He also failed to offer a ringing endorsement of the prime minister. "I have been very clear that I am sorry, and I have made mistakes," Truss told jeering opposition lawmakers in parliament.

☆ Details on UK fracking consent mechanism expected on Wednesday, says PM
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

British Prime Minister Liz Truss leaves Number 10 Downing Street for the Houses of Parliament, in London, Britain, October 19, 2022. REUTERS/Toby MelvilleLONDON, Oct 19 (Reuters) - British business minister Jacob Rees-Mogg will provide details later on Wednesday on what kind of mechanism will be used to establish whether local communities agree to fracking, Prime Minister Liz Truss said. "We will consult on the robust system of local consent, give clear advice on seismic limits and safety before any fracking takes place," Truss, whose government last month lifted a fracking moratorium in England, told parliament. "The business Secretary will be saying more about this later today." Register now for FREE unlimited access to Reuters.com RegisterReporting by William James, writing by Sachin Ravikumar, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Who are the candidates to replace UK PM Truss?
▼ + stars: | 2022-10-19 | by ( Kate Holton | ) www.reuters.com time to read: +4 min

LONDON, Oct 20 (Reuters) - Liz Truss said on Thursday she would resign as British prime minister just six weeks after she was appointed. A leadership election will be completed within the next week to replace Truss, who is the shortest serving prime minister in British history. Wallace, a former soldier, was defence minister for both Johnson and Truss, leading Britain's response to Russia's invasion of Ukraine. Boris JohnsonFormer prime minister Johnson, a journalist, has loomed large over British politics ever since he became London Mayor in 2008. The Times reported that Johnson is expected to stand in the Conservative Party leadership contest.

☆ Senior adviser to UK PM Truss suspended - BBC
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 19 (Reuters) - One of British Prime Minister Liz Truss's most senior advisers has been suspended and is to face a formal investigation by the government's Propriety and Ethics team, the BBC's political editor reported on Wednesday. A spokesperson for Truss declined to comment on what he called individual staffing matters, but said: "The prime minister has made very clear to her team that some of the ... briefings that we have seen are completely unacceptable about parliamentary colleagues and they must stop." Over the weekend, the Sunday Times quoted a source in the prime minister's Number 10 Downing Street office as using an expletive to describe Sajid Javid, a former minister who the newspaper said had been approached to become finance minister after the sacking of Kwasi Kwarteng. Register now for FREE unlimited access to Reuters.com RegisterReporting by Farouq Suleiman, editing by Elizabeth Piper and William JamesOur Standards: The Thomson Reuters Trust Principles.

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