Offshore wind to power 20m homes within five years, Starmer to pledge
Keir Starmer will pledge to build enough offshore wind capacity to power 20 million homes within five years using taxpayer money to develop parts of the seabed owned by the royal family. During a visit to the north-west, the Prime Minister will announce details of the government’s energy company, Great British Energy, which will receive £8.3 billion to invest in green technologies. The goal is to develop an additional 20-30GW of offshore wind power in partnership with the Crown Estate. The investment aims to attract another £60 billion from private companies to help decarbonize Britain’s power sector by 2030. Starmer emphasized that this partnership will boost energy security, create skilled jobs, and lower energy bills. Great British Energy will focus initially on offshore wind but will also invest in other technologies like carbon capture and small nuclear reactors. The publicly owned company will keep a stake in projects to return profits to the government and fund future energy projects. Officials believe this initiative, supported by the Crown Estate’s expertise, will help meet the UK’s ambitious green energy targets and gain broad public support.
Evangelicals play down the commissioning of 20 ‘overseers’
Evangelicals have downplayed the commissioning of 20 “overseers” to provide pastoral support to those opposing same-sex blessings in the Church of England. The Church of England Evangelical Council (CEEC) organized this alternative spiritual oversight. Among the commissioned overseers is former Bishop of Willesden, Rt Revd Pete Broadbent, who emphasized their role as senior friends offering advice and prayers, not as substitutes for bishops. The initiative aims to help Evangelicals considering leaving the Church of England to stay. The Bishop of Leicester, Rt Revd Martyn Snow, and Rt Revd Henry Scriven both described the move as a supportive structure rather than a significant departure from Church norms. The commissioning liturgy clarified that it was not an ordination or consecration. Overseers were selected through interviews and references, underwent safeguarding checks, and were asked to commit to teaching faithfully and respecting Church discipline. Only two of the 20 overseers are women, reflecting the CEEC's commitment to diverse evangelical traditions. This move follows the General Synod’s vote to allow blessings for same-sex couples, which the CEEC regards as a watershed moment, necessitating a structurally secure space for Evangelical clergy and congregations.
Bank of England to cut interest rates in August, economists forecast
Market expectations for an August interest rate cut diverge from economists' predictions. A Reuters poll of economists indicates that the Bank of England is expected to cut interest rates next week for the first time in over four years. Most economists surveyed—over 80%—anticipate the rate will drop to 5% from the current 5.25%, which is the highest it has been in over 15 years following 14 consecutive hikes. However, market sentiment is less certain. A slight majority (54%) believe rates will be held steady, while 46% anticipate a cut. Earlier predictions were more confident about a rate reduction, with 97% of economists in a June poll expecting a cut before the latest inflation data was released. The anticipated rate cut would make borrowing cheaper, as evidenced by Nationwide offering a five-year fixed-rate mortgage deal at less than 4%. The last interest rate cut occurred in March 2020 during the onset of COVID-19 in the UK. The Bank of England has maintained higher rates to combat inflation, aiming to bring it down to 2%. Despite recent drops in inflation, rates have remained at 5.25%.
Ukraine: Sea of Azov Emptied of Russian Warships, Says Ukrainian Navy
Recent Ukrainian attacks in the Black Sea have compelled the Russian navy to rebase its ships, according to the Ukrainian navy. Dmytro Pletenchuk, a Ukrainian navy spokesman, confirmed that no Russian naval vessels remain in the Sea of Azov. Russian ballistic missile strikes on Kharkiv on Wednesday damaged the office of a Swiss mine-clearing NGO, injuring six people. Kharkiv mayor Ihor Terekhov reported that an industrial area was targeted. Kharkiv police head Volodymyr Tymoshko described a "double-tap" attack aimed at rescuers, who fortunately evacuated just before the second strike. Heavy Russian attacks have intensified around Pokrovsk in the Donetsk region, making conditions "tense" and difficult. Ukrainian forces continue to defend the area. The Institute for the Study of War (ISW) noted marginal Russian advances near Kharkiv and confirmed progress in Donetsk oblast. The ISW highlighted Russia's significant challenges in maintaining troop numbers and replacing heavy losses of equipment. Ukrainian authorities noted that Russia's current production is insufficient to cover these losses, with a British assessment indicating that Russia can only sustain operations until 2026-2027 by refurbishing Soviet-era stocks.
