Afternoon Briefing Monday 30th March

0:00This episode of the Times Radio News Briefing is sponsored by PwCWC. Staying competitive means getting ahead, not just keeping up. So how do business leaders cut through the noise and focus on what really matters? PwC takes you further with tech, from optimising the systems that put your data to work, to scaling AI from proof of concept to competitive edge. PwC helps you meet tomorrow's tech demands so you can compete at a speed that rewrites the rules. Discover more at pwc.co.uk. Welcome to the Times Radio News Briefing for the afternoon of Monday 30th March. Sir Keir Starmer says the conflict in the Middle East is not our war and we are not going to be dragged into it.

0:45He's been launching Labour's campaign for the local elections in the West Midlands. Yes, of course, we will defend British lives and British interests in the region. We'll stand by our allies in the Gulf region. But we're not going to get dragged in. That's my values, that's my principles and that's what we've applied to our decisions, whatever the pressure and whoever it's coming from. Labour's internal polling is described as apocalyptic. London's expected to be especially challenging. There are predictions that Starmer could be forced out after May 7th. Donald Trump says the US could seize Karg Island, Iran's oil terminal, and take it very easily.

1:24He's also told the Financial Times the US would need to be there for a while. The Sunday Times' Mark Urban says it could turn into a catch-22, though. I think the real problem with the idea of taking the island is it's perfectly doable to take it. The question is, how do you hold it? And things like resupplying the troops there, you know, changing over, moving in one unit and taking out another one, just in the normal course of rotating them, that sort of thing, those would all be points of vulnerability, which the Iranians would obviously attempt to exploit. Skiir Starmer is to hold talks with Britain's biggest energy suppliers.

2:00The Prime Minister will meet execs from Shell, BP and the Norwegian energy company Equinor. Shortages of jet fuel and diesel are predicted in the next few weeks. David Boots from the Road Haulage Association has told Times Radio businesses are really suffering. Since the start of the conflict in the Middle East, we've seen bulk diesel prices go up by at least 35%. So that is a cost that is faced by hauliers. Many can't pass that on to their customers. So there's been a huge amount of concern amongst hauliers about how they absorb that cost. The Shadow Energy Secretary Claire Coutinho has told Times Radio that if we drilled more in the North Sea, the Treasury would get a bonanza.

2:43It wouldn't necessarily change prices. I've always been clear about that. But what I've always said is it would generate tax revenue. So what we're losing from the fact that we're shutting down the North Sea is about£25 billion of tax revenue over the next 10 years. Now, your listeners can make an assessment of whether they'd rather that tax revenue come from the North Sea or whether they'd rather we send that tax revenue to places like Norway and come after taxpayers for that money instead. And you can follow the Times Radio News Briefing on Spotify and listen live to Times Radio online. This episode of the Times Radio News Briefing is sponsored by PwC.

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