No fuel shortage in Britain, says minister, as Reeves prepares to set out economic response to Iran war – UK politics live | Politics

In a Times Radio interview Michael ShanksThe energy minister confirmed the government is interested in a targeted energy bill support package (targeting those who need it most) rather than a universal package (targeting everyone). (See 08.56.) He said this would be “the most efficient use of public money.”

He said:

We’re actually looking at every option. Frankly, part of this is, is there a way to target support to the people who need it most? I think most people would consider this the most efficient use of public money, but we also want to make sure we’re not missing people…

But honestly, we’re in the third week of this conflict, although people are really concerned that there’s no certainty about how or when this will end, we’re really looking hard at what the long-term support needs to be.

The UK government has rejected an energy trade body’s warning that failure to produce more domestic oil and gas in the North Sea would make the UK increasingly dependent on imports at a time of increasing global instability. Jillian Ambrose reports.

Good morning. at lunch Rachel ReevesThe Chancellor will make a statement to MPs covering what the government is doing and (more tentatively) what it might do in response to rising global energy prices caused by the Iran war. After Russia invades Ukraine in 2022 and creates a global energy shortage, the Conservative government spent £40bn Supporting families and companies with their energy bills next winter. Reeves’ problem is that he doesn’t have £40bn of extra money. With spring coming and people starting to turn down their central heating systems, this issue may not seem so urgent in many homes (even though heating oil and gasoline prices have already risen). But towards the end of this year, this could turn into some kind of massive economic crisis. It has been remembered for half a century.

Like Chris Mason explains in good previewReeves is expected to get three points. He is expected to confirm that the government wants to give the Competition and Markets Authority new powers to deal with potential profiteering by oil companies. He will confirm that the government wants to “go further to secure the next generation of nuclear energy and reclaim Britain’s place as the leading nuclear nation” (as the Treasury said in its overnight preview).

It is also set to put forward some ideas on how the government could help households with their energy bills if it thinks it is needed when the current energy price cap expires at the end of June. What it won’t do is announce a plan; It’s too early for that. But Mason said he would “talk about principles to provide more support for families if energy bills rise in the coming months” and was expected to back up Keir Starmer’s hints yesterday that any support package would be targeted rather than universal.

Michael ShanksThe energy minister went on the air this morning to answer questions before Reeves’ announcement and emphasized that drivers need not worry about fuel shortages. He told Times Radio:

[Drivers] I have to do everything absolutely normally because there is no shortage of fuel anywhere in the country right now. We follow this every day, I personally look at the numbers. There is no problem with this…

People should go about their business as normal. This is what the RAC and AA say. It’s really important that people do this. There is no fuel shortage and everything works normally.

When asked if people should drive slower to save energy, Shanks replied:

Really look, people shouldn’t change their behavior and habits even one bit.

Ministers believe there is no fuel shortage. But they also say it because they don’t want to say anything that would trigger panic buying.

Here is the agenda of the day.

9.30: Keir Starmer chair cabinet.

9.30: Executives from X, Meta, TikTok and Google present evidence to the Commons science committee about misinformation on social media.

9.45: Liberal Democrats leader Ed Davey has launched his party’s local election campaign in West Surrey.

Morning: Kemi Badenoch is on a visit to meet members of the Jewish community in Stamford Hill, north London.

11.30: Energy secretary Ed Miliband answers questions in the House of Commons.

Afternoon: A lobby briefing is being held in Downing Street.

After 12.30: Chancellor Rachel Reeves speaks to MPs about the economic response to the Iran war.

Afternoon: MPs are debating the Conservative Party opposition day, which calls for windfall taxes on energy companies to be scrapped and a ban on new oil and gas licenses for the North Sea to be lifted.

14.30: Foreign Secretary Yvette Cooper and Development Minister Jenny Chapman give evidence to the Commons international development committee.

Afternoon: UK Reform Leader Nigel Farage visits Leeds to address the media.

And at some point today the business ministry will issue a written ministerial statement giving an update on the government’s commitment to publish documents on how Andrew Mountbatten-Windsor was appointed as trade envoy.

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