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Story summary
- Rachel Reeves will call on G7 nations to expedite clean energy initiatives to protect economies from oil and gas price fluctuations during a meeting with finance and energy ministers.
- She asserts that long-term energy security depends on renewables and nuclear power, opposing Conservative calls for new oil and gas licenses.
- Kemi Badenoch will propose measures to lower energy bills, such as removing VAT and increasing North Sea drilling, although she acknowledges that drilling won't directly lower consumer costs.
- The discussions will focus on the ongoing crisis related to the Strait of Hormuz and its impact on UK energy security.
