The Business

Is expanding North Sea oil production climate vandalism or the key to lowering energy bills? Dominic O’Connell explores whether Andy Burnham could u-turn on Labour's manifesto pledge to not issue new oil and gas licences to explore new fields in the region.

Ask any climate campaigner their views on North Sea oil, and the answer is straightforward: stop drilling. While Labour came to power pledging to prioritise green energy, new Prime Minister Andy Burnham has indicated a more pragmatic stance towards tapping domestic reserves as energy security concerns grow.

In Part 2 of Power Struggle, our energy mini-series on The Business, we explore whether expanding North Sea oil field licences is essential for driving economic growth and insulating the wider UK economy. We examine how government fiscal policy, regulatory shifts, and corporate taxation impact long-term commercial investment in the sector, and other affected industries.

Dominic is joined by Greig Cameron, Scottish business editor at The Times, to discuss the fate of key offshore fields like Rosebank and Jackdaw. Plus, Amjad Bseisu, chief executive of independent operator EnQuest, explains why he thinks uncompetitive tax regimes are pushing energy investment abroad and what ending North Sea oil production means for Britain’s net zero transition.

Guests:
Amjad Bseisu, Chief executive, EnQuest
Greig Cameron, Scottish business editor, The Times

Presenter:
Dominic O’Connell, Times columnist and Times Radio business correspondent

Producer: Hope Federico
Executive Producers: Emily Leahy and Miriam Hall
Photo Credit: Getty
Get in touch: thebusiness@thetimes.com
Hosted on Acast. See acast.com/privacy for more information.

Earlier this summer, the UK's power network came close to being plunged into a blackout. In part one of our new series on energy, Dominic O’Connell looks at the alarming events of 23 June and what they mean for the future of Britain’s electricity supply.

From surging constraint costs and unmetered solar generation, we reveal the host of challenges facing the country. Modernising the UK's electricity transmission system is now vital for business and long-term economic growth.

We’re joined by Adam Bell, former head of energy strategy for the government and partner at StoneHaven, who explores how shifting to renewables creates unprecedented stability challenges. Energy developer and data analyst Ben Watts also shares his startling analysis of what went wrong on the UK electricity grid on 23 June, and why calls are growing for greater regulation of NESO, the National Energy System Operator.

Can our politicians protect British business and consumers from soaring power bills while overhauling our energy system in the race to net zero?

Host:
Dominic O’Connell, Times’s columnist and Times Radio business correspondent

Guests:
Adam Bell, Stonehaven
Ben Watts, energy developer and data analyst

Producer: Hope Federico
Executive Producers: Miriam Hall and Emily Leahy
Photo Credit: Getty

Get in touch: thebusiness@thetimes.com

If you enjoyed this episode, make sure to follow.
Hosted on Acast. See acast.com/privacy for more information.

Andy Burnham is officially in No. 10, and his cabinet is in place. Replacing Rachel Reeves’ as Chancellor is John Healey - not, in fact, Shabana Mahmood or Ed Miliband, both names that were thrown around in the lead up.

Can the so-called “King of the North” deliver the growth and stability the business community says has been so badly lacking? Amidst a flurry of policy announcements - bus fare caps and a 20 percent cut in business rates for hospitality - is real change a possibility?

“The UK is very unique in the fact that we pay two forms of income tax … national income is a tax on employers and work” Mehreen Khan, economics editor at the Times, tells The Business. “Let's see how brave they want to be…I think this is a long overdue reform.”

With Times business editor Richard Fletcher, Khan discusses the upcoming budget, how the relationship between the Chancellor and Prime Minister may play out - and just how much change the business community is expecting to see from this new leader. “ I do suspect we'll get a little bounce in consumer confidence, and hence growth, just from a new face in No. 10. How long that lasts - who knows?” Richard Fletcher said. “I think that it is going to take some quite serious reforms to do that and I'm not sure the backbenchers particularly have got the guts to do that.”

Hosts:
Hannah Prevett, associate business editor, The Sunday Times
Dominic O’Connell, business correspondent, Times Radio

Guests:
Richard Fletcher, Business editor, The Times
Mehreen Khan, Economics editor, The Times

Producer: Hope Federico
Executive Producers: Miriam Hall and Emily Leahy
Photo Credit: Getty

Get in touch: thebusiness@thetimes.com

If you enjoyed this episode, make sure to press follow at the top of your podcast app.

Hosted on Acast. See acast.com/privacy for more information.

In the words of former Prime Minister Boris Johnson, Peppa Pig World “is very much my kind of place.” But how does Paultons Park, one of the UK's most popular theme parks, navigate the shifting UK economy?

Located in Hampshire, Paultons Park has been in the Mancey family since first opening its doors in 1983. The amusement park now welcomes a million visitors annually. In 2011, the park opened Peppa Pig World, a £6 million investment that became one of the park's most popular attractions.

In this episode of The Business, Hannah Prevett, Associate Business Editor at The Sunday Times speaks with James Mancey, Deputy Managing Director, and Lawrence Mancey, the Marketing Director behind the park. The brothers behind the family-owned British business join Hannah to discuss working in rollercoasters, investing back into their brand, and what the UK hospitality sector is hoping for from a Burnham premiership.

For years, Paultons Park has been the first job for thousands of young people. James and Lawrence discuss how inflation rates, increases to National Insurance contributions, and the national minimum wage have impacted their bottom line.

If you enjoyed this episode, make sure to press follow at the top of your podcast app.

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today to get full digital access.

Presenter:

Hannah Prevett, associate business editor at The Sunday Times

Guests:

James Mancey, deputy managing director at Paultons Park
Lawrence Mancey, marketing director at Paultons Park

Producer: Hope Federico
Executive Producers: Emily Leahy and Miriam Hall
Photo Credit: Paultons Park
Get in touch: thebusiness@thetimes.com
Hosted on Acast. See acast.com/privacy for more information.

What does the high-stakes easyJet takeover bid mean for the future of budget travel? We unpack the intense bidding war between US giants Apollo and Castlelake.

Last Friday, in the latest twist in the saga for takeover of easyJet, Apollo secured an agreement to buy the airline in a £5.7B deal, gazumping an offer from US private credit group Castlelake. Just days earlier, easyJet had agreed to the Castlelake proposal - kicking off a proper takeover battle for one of the UK’s best known consumer brands.

In this episode, we consider why easyJet has become a target, and what it could mean for the future of the company.

Guest:

Tim Jeans, former head of marketing for Ryanair, a former MD of Monarch Airlines

Presenters:

Dominic O’Connell, Times columnist and Times Radio business correspondent
Hannah Prevett, associate business editor at The Sunday Times

Producer: Hope Federico
Executive Producers: Emily Leahy and Miriam Hall
Photo Credit: Getty
Get in touch: thebusiness@thetimes.com
Hosted on Acast. See acast.com/privacy for more information.