Category: CANADA

The rating agency changed its outlook on the U.S. to ‘stable’ from ‘negative,’ but said the government has ‘failed to agree on measures to reverse the trend’ of high deficits.

The UK government is solidifying its efforts to reshape its energy future as Parliament passes the Green British Energy Bill

This new change allows publicly owned energy companies to invest in clean, secure, homegrown energy.

Supported by £8.3 billion throughout this Parliament, Great British Energy is set to deliver affordable power, energy security, and thousands of green jobs nationwide.

Supporting the transition into clean energy

Great British Energy will focus on accelerating the rollout of strategic renewable energy projects, partnering with the private sector to unlock next-generation technologies such as floating offshore wind.

Great British Energy is a key part of the Government’s  “Plan for Change” as they hope to make the UK a clean energy superpower and reduce the reliance on the fossil fuel markets.

With the clean energy sector being an essential part of the modern Industrial Strategy, the company’s efforts are expected to boost local economies, particularly in industrial heartlands where manufacturing for renewable infrastructure like wind turbine components and cables can thrive.

Delivering benefits across the UK

The Government has already started using Great British Energy’s resources to fund renewable energy schemes in communities, schools, and hospitals.

A new £200 million fund is supporting rooftop solar and other clean power projects, which are expected to save hundreds of millions of pounds in energy costs. For example, NHS Humber Health Partnership recently received nearly £8.5 million in funding, resulting in lifetime savings of up to £14.2 million.

A £4 million community energy fund has opened in Scotland for applications. Local groups can apply to develop projects like community-owned wind turbines, rooftop solar installations, and small-scale hydropower. The profits generated could be reinvested in local priorities or used to reduce household energy bills.

In Wales, nearly £3 million in funding has been allocated to support local renewable initiatives, further showing Great British Energy’s UK-wide reach and impact.

The Green British Energy Bill: Supporting jobs and the energy industry

Along with community investments, Great British Energy is working towards laying the groundwork for a strong domestic supply chain in clean energy.

A £300 million fund has been dedicated to supporting offshore wind supply chains, aiming to boost the work of British engineers, technicians, and manufacturers. This includes producing key components such as floating offshore platforms and undersea cables.

A roundtable hosted in Edinburgh today, attended by UK and Scottish officials, focused on the supply chain opportunities available in Scotland. It represents a concerted effort to ensure that the shift to clean Energy supports high-quality employment and industrial growth.

Backing and strategic direction

The Great British Energy Bill has received the green light from all three devolved governments: England, Scotland, and Wales. This marks the first consensus of its kind under this Parliament.

This agreement ensures that Great British Energy can operate effectively across the UK and deliver equitable benefits to every region.

The Energy Secretary will outline the company’s strategic priorities in the coming weeks, identifying the key technologies and investment areas that will shape Britain’s clean energy future.

The post UK Government passes Green British Energy Bill appeared first on Open Access Government.

Finance Minister François-Philippe Champagne said the government’s first priority will be to pass what the Liberals are calling a “middle-class tax cut” by July 1.

The United States and the Kingdom of Saudi Arabia are strengthening their strategic ties by formalising two major agreements focused on energy collaboration and critical mineral supply chains

U.S. Secretary of Energy Chris Wright signed a Memorandum of Understanding (MOU) on energy cooperation and a Memorandum of Cooperation (MOC) on critical minerals during a delegation visit led by President Donald J. Trump.

These agreements show essential steps forward in U.S–Saudi relations, hoping to strengthen global energy security, promote technological innovation, and secure critical mineral resources vital for emerging industries.

Improving energy cooperation

The energy MOU signed between Secretary Wright and Saudi Arabia’s Minister of Energy, H.R.H. Prince Abdulaziz bin Salman Al Saud, outlines plans to promote collaboration in various energy sectors.

These include petroleum refining, electricity generation technologies, energy storage systems, and the use of artificial intelligence to drive innovation in the energy industry.

The agreement also emphasises expanding access to clean cooking solutions in developing nations and developing energy infrastructure across both countries.

The two nations also agreed to cooperate on civil nuclear energy, covering areas such as safety, security, nonproliferation, next-generation reactor technologies, and uranium mining.

Building minerals partnership

The U.S. and Saudi Arabia also established a new framework for joint action on critical minerals, signed by Secretary Wright and H.E. Minister of Industry and Mineral Resources, Bandar Alkhorayef.

The MOC aims to secure and diversify global supply chains for essential minerals used in clean energy technologies, electronics, and defence industries.

Both nations will explore opportunities for joint ventures in the mining, refining, and processing critical minerals. The agreement also supports investment in research institutions and workforce training programs, fostering innovation and ensuring a steady supply of materials crucial to modern technologies.

Strategic investment and future vision

These investments work alongside the announced $600 billion investment commitment from Saudi Arabia.

Together, these developments show a deeper economic and strategic relationship between the two countries and a strategic relationship between the two countries, focused on energy resilience, technological advancement, and mutual prosperity.

As global energy demands grow and competition for mineral resources intensifies, the U.S.-Saudi partnership is positioned to play a central role in shaping a secure and sustainable energy future.

The post United States and Saudi Arabia deepen alliance with energy and critical minerals agreements appeared first on Open Access Government.

Economics and business experts remain cautious about the outlook for the the trade war following news of a ‘tariff-truce’ between China and the U.S.

Big gains for Wall Street, along with other global stock markets including the TSX today on news the Trump administration is pausing tariffs with China ahead of a new trade deal.