‘Fracking for shale gas could prompt a gold rush that will turn northern towns like Blackpool into British equivalents of oil-rich communities in the Middle East, a Cabinet minister has claimed. Business and energy minister Matthew Hancock revealed that the Government is preparing to announce plans for a ‘sovereign wealth fund’ to hold the revenues from fracking for the north of England. Such state-owned funds have been set up in the Middle East and Norway to generate huge sums from the proceeds of oil and gas exploration. They invest in assets such as stocks, property, infrastructure and precious metals, with proceeds able to fund public spending. Chancellor George Osborne is expected to unveil details of a fund in his autumn statement next month.’ – Daily Mail
>Today: ToryDiary: Osborne poised to take up the ConHome manifesto proposal for a Sovereign Wealth Fund
‘In a highly unusual move, the Prime Minister urged Labour, Liberal Democrat and even Green supporters to lend their votes to the Tory candidate Kelly Tolhurst to prevent a ‘UKIP boost, and all the uncertainty and instability that leads to’. The poll, commissioned by the former Tory treasurer Lord Ashcroft, put Ukip on 44 per cent, the Conservatives on 32, Labour on 17 and the Lib Dems on only 2 per cent.’ – Daily Mail
>Yesterday: Lord Ashcroft on Comment: UKIP lead by 12 points in Rochester and Strood – but what will happen next May?
‘Facing a controversial debate on 35 measures — including the EAW — that hand more power over Britain’s justice system to Brussels, the government connived to limit the fuss to one vote…Blame should be shared with Labour. But ministers’ failure to ensure a proper debate and vote on Monday only increases the risk that opting into these measures could be challenged in — and decided by — the courts, not elected law-makers. This arrogant disdain for parliament corrodes our democracy. Parliament was first established precisely to shield citizens from bullying rulers. – Dominic Raab MP, The Times (£)
Editorials:
‘Britain and Germany are to press ahead with plans to clamp down on so-called welfare tourism after the EU’s top court ruled that governments can deny benefits to citizens from another EU state if they have moved countries “solely” to claim them. London and Berlin, which are both contending with surging support for anti-immigration populist parties, hailed Tuesday’s judgment from the European Court of Justice. “This is a common-sense ruling,” said David Cameron.’ – FT
‘NSPCC boss Peter Wanless and Richard Whittam QC had tried to track down 114 files that went missing in the Home Office. Just one was found; another was shredded by the Ministry of Justice, which took possession of the dossier, just three years ago…In a statement to MPs, Mrs May said of the latest findings: ‘It doesn’t prove or disprove the Home Office acted appropriately in the 1980s.’ She added: ‘There might have been a cover-up.’ – Daily Mail
‘In the aftermath of phone hacking and Leveson, it is rare indeed to hear a politician speak up for the Press. So this paper salutes Culture Secretary Sajid Javid on a speech packed with insights into the importance to democracy of a flourishing, varied and independent newspaper industry. As he points out, Press freedom and plurality are under attack from all sides – with the BBC driving local papers out of business, back-door censorship through the EU’s ‘right to be forgotten’, police abusing anti-terrorism powers to expose whistleblowers and politicians’ lingering ambitions to impose State control.’ – Daily Mail Leader
>Yesterday: ToryDiary: The battle for Fleet Street’s vote
‘Justice Secretary Chris Grayling was forced to apologise after it emerged prison chiefs have been snooping on phone calls between lags and their MPs. Strict rules state that conversations between prisoners and their MPs and lawyers should not be recorded or listened to. But in the Commons, Mr Grayling admitted it had happened hundreds of times over the last eight years. Mr Grayling said 32 serving MPs had had their calls monitored, but insisted administrative error was to blame.’ – The Sun (£)
‘Scotland has been protected from hundreds of millions of pounds of public spending cuts because of a “flaw” in the formula used to calculate its grant from London, an independent think-tank said on Wednesday. The Institute for Fiscal Studies said the treatment of business rates by the Barnett formula, which calculates changes in the block grant based on UK government spending decisions, “might be considered unfair to England and Wales”.’ – FT
>Today: Henry Hill’s Red, White and Blue column: Scottish battle lines drawn over the future of devolution
>Yesterday: Andrew Rosindell MP on Comment: A new settlement for England, and all Britons
‘Western-backed “moderate” rebels fighting jihadists in Syria are refusing to do battle, giving up and even defecting for lack of weapons and other promised support, leaders have told The Telegraph. Despite President Barack Obama’s strategy, outlined last month, to arm and fund rebels to fight first Islamic State of Iraq and the Levant, and then the Assad regime, arms supplies remained at a trickle, they said.’ – Daily Telegraph
‘Ken Livingstone and George Galloway will tonight ride to the rescue of a beleaguered mayor who faces being stripped of his powers by Eric Pickles. Labour’s united front against Lutfur Rahman will be smashed as Mr Livingstone and a fellow member of the party’s national executive join a parade of left-wingers at a rally demanding an end to the “witch-hunt” of Britain’s first elected ethnic minority mayor.’ – The Times (£)
‘Tony Benn’s eldest son is a step closer to taking up the seat in the Lords that his father fought to renounce. Stephen Michael Wedgwood Benn, eldest son of the late Labour MP and the brother of the shadow cabinet minister Hilary, has formally “established his claim” to the Viscountcy of Stansgate.’ – The Times (£)
>Today: George Grant on Comment: Britain’s poor can do without five more years of Labour’s benevolence