Business
Badenoch in pledge to ‘get all our oil and gas out of the North Sea’

Kemi Badenoch has committed the Tories to extract as much oil and gas as possible from the North Sea.
The Conservative Party leader said it was “absurd” to leave the fossil fuel resources untapped.
But the Government said issuing new licences for oil and gas exploration would “not take a penny off bills” and would accelerate the “worsening climate crisis”.
A Conservative government would make “maximising extraction” its goal if it wins power, rather than measures aimed at shifting the North Sea industry away from fossil fuels.
Mrs Badenoch will use a speech in Aberdeen on Tuesday to set out her plans.
She will announce that the Tories plan to completely overhaul the North Sea Transition Authority (NSTA), which oversees the issuing of licences, dropping the word transition and giving it a simple order to extract the maximum possible amount of fossil fuels.
Ahead of her speech, Mrs Badenoch pledged that “we are going to get all our oil and gas out of the North Sea”.
She said: “We are in the absurd situation where our country is leaving vital resources untapped while neighbours such as Norway extract them from the same seabed.
“With the ONS (Office for National Statistics) confirming that economic growth is down partly because of falling oil and gas extraction, we cannot afford not to be doing everything to get hydrocarbons out the ground.
“Britain has already decarbonised more than every other major economy since 1990, yet we face some of the highest energy prices in the developed world.
“This is not sustainable and it cannot continue. That is why I am calling time on this unilateral act of economic disarmament and Labour’s impossible ideology of net zero by 2050.
“Russia’s war in Ukraine has only underscored that our energy supplies are a matter of national security.”
A Department for Energy Security and Net Zero spokesman said: “We are already delivering a fair and orderly transition in the North Sea to drive growth and secure skilled jobs for future generations, with the biggest ever investment in offshore wind and three first of a kind carbon capture and storage clusters.
“We are committed to delivering the manifesto commitment to not issue new licences to explore new fields because they will not take a penny off bills, cannot make us energy secure, and will only accelerate the worsening climate crisis.”
A Labour Party spokeswoman said: “We’ll take no lectures from Kemi Badenoch. Every family and business paid the price of the Conservatives’ failure to secure the UK’s energy.
“The Conservatives oversaw thousands of lost jobs in the North Sea. In contrast, this Labour Government is investing in the North Sea’s clean energy future, creating good jobs in offshore wind, hydrogen and carbon capture and storage, as we take back control of our energy for good.”
Offshore Energies UK chief executive David Whitehouse said: “As long as the UK continues to use oil and gas, it makes sense to produce as much of it as we can here at home.
“Every barrel of oil and gas we leave in the North Sea is a barrel we’ll need to import.
“Even in a net zero future, the UK will use 10-15 billion barrels of oil and gas between now and 2050. Current plans show the UK will produce less than four billion barrels, leaving us increasingly reliant on imports.
“Producing it here supports jobs, strengthens our economy, and improves our energy security.”
Business
Peak time rail fares scrapped on ScotRail trains

Debbie JacksonBBC Scotland News

Peak rail fares have been scrapped on ScotRail trains, meaning passengers will no longer pay higher prices for travelling on busy weekday trains.
Until now, many ScotRail tickets were based on the time of travel. Edinburgh to Glasgow peak times will be almost 50% cheaper, with trips between Perth and Dundee a third lower.
The Scottish government-owned operator said its aim was to get more commuters out of cars and onto trains.
Season tickets and fares on routes with peak time prices are unchanged. Multi-journey flexipass tickets have been adjusted with smaller savings.
Peak ScotRail fares used to cover tickets bought for travel before 09:15 on weekdays and certain services between 16:42 and 18:30.
A pilot scheme scrapping peak-time fares, a policy championed by the Scottish Greens, was introduced in 2023 but ended in September 2024 after ministers said the costs of the subsidy could not be justified.
However, in his programme for government speech in May, First Minister John Swinney announced that peak fares would again be scrapped.
Speaking at the launch of the scheme in Edinburgh on Monday, he said it would help people to move “from their cars onto trains”, which would provide environmental benefits.
He added: “This is financially sustainable because it’s an investment in the rail network and it’s an investment in the people of Scotland.
“People in Scotland simply travelling from Edinburgh to Glasgow on a daily basis will see their travel costs fall by almost 50%. That’s a massive saving when people are struggling financially.”
ScotRail ticketing will also be more straightforward and flexible under the new system, the firm has said.
How is scrapping peak fares being paid for?

ScotRail has been owned and run by the Scottish government since 2022.
In October 2023 the rail firm started a year-long trial of scrapping peak fares with the aim of persuading more people to swap car journeys for rail travel.
Last year, Scottish ministers announced the trial had “limited success” and would not be extended.
An evaluation of the first nine months of the trial found passenger levels increased by a maximum of about 6.8%.
This represented around four million extra rail journeys, of which two million are journeys that would previously have been made by private car.
However, the scheme required a 10% rise to be self-financing.
Scotland’s Transport Secretary Fiona Hyslop also said at the time that the pilot “primarily benefited existing train passengers and those with medium to higher incomes”.
The evaluation found the estimated cost of the scheme was “in the annual range of £25m to £30m per annum (in 2024 prices) with the possibility of being as large as £40m”.
Swinney said he expected the annual cost to be between £40m to £45m each year and lead to a “huge saving” for individuals.
If the new scheme does not become self-financing through an increase in passenger numbers, the costs will be met from the ScotRail budget.
This is made up of revenue from passenger fares and the £1.6bn the Scottish government puts into rail services every year.

Joanne Maguire, managing director at ScotRail told BBC Scotland News: “We are really excited at the opportunity to get more customers out of their cars and onto the railway.
“If you are travelling from Edinburgh to Glasgow you will see a saving of about 50%.
“From Inverkeithing to Edinburgh, you will save 40% and between Inverness and Elgin it is 35% – so it’s great news for our passengers.”
Ms Maguire said the trial period had seen an increase in passenger numbers and that ScotRail had enjoyed a successful summer of moving customers around to numerous big leisure events.
She added that the goal now was to grow the commuter passenger base.

‘Deeply unfair tax’
Several passengers at Glasgow’s Queen Street station told BBC Scotland News they were unaware that peak time fares had been dropped – but welcomed the move.
Student Robbie McCormack said: “I commute every day for college and it’s quite expensive.
“I’ll be able to save throughout the week, save more college money and get something else for lunch.”
Passenger Tommy Whitelaw travels across Scotland giving talks to charities and care homes.
He said the end of peak fares removed the limits on when many people could travel.
He added: “It makes a difference to everybody, its our duty to make everything achievable for people.
“The cost of living shrinks our world, this is one way to open it up a wee bit.”
Susan Watts, from Leeds, told BBC Your Voice that peak fares should be scrapped UK-wide.
She said: “Our complicated fare system is enough to put anyone off using trains.
“In Italy, I paid the same price for a ticket when I turned up an hour before as if I’d booked months earlier – the price is just the price.”
Green MSP Mark Ruskell said peak rail fares were a “deeply unfair tax” on people who had no say over when they needed to travel.
“I am delighted that we are finally rid of them,” he said.
“I’m glad that the Scottish government has finally listened to the Greens, the trade unions and the rail users who were responsible for securing the initial pilot.”

Business
Commercial LPG cylinders cheaper by Rs 51.50; ATF cut by 1.4%, domestic gas prices unchanged – The Times of India

Prices of aviation turbine fuel (ATF) and commercial LPG were reduced on Monday, bringing partial relief to airlines and businesses, though domestic cooking gas rates remain steady.Aviation turbine fuel (ATF) prices were cut by 1.4 per cent on Monday, while commercial LPG cylinders became cheaper by Rs 51.50, reflecting a decline in global benchmark rates, PTI reported.According to state-owned fuel retailers, jet fuel in the national capital was cut by Rs 1,308.41 per kilolitre, or 1.4 per cent, to Rs 90,713.52 per kl. This comes after two consecutive monthly hikes since July, which together raised ATF prices by Rs 8,949.38 per kl in line with spurt in international oil rates triggered by geopolitical tensions and trade wars.Fuel accounts for nearly 40 per cent of operating costs for airlines, and the cut is expected to ease some of the pressure, though carriers did not immediately comment on the move. In Mumbai, ATF was priced at Rs 84,832.83 per kl, down from Rs 86,077.14, while in Chennai and Kolkata prices were revised upward to Rs 94,151.96 and Rs 93,886.18 per kl, respectively. Rates vary across cities depending on local taxes like VAT.Alongside, the price of commercial LPG used in hotels and restaurants was reduced by Rs 51.50 per 19-kg cylinder, with the new rate in Delhi at Rs 1,580. This marks the sixth straight monthly cut since April, with cumulative reductions totalling Rs 223 per cylinder. Rates were last cut by Rs 33.50 on August 1.While oil prices remain volatile globally, benchmark LPG rates have softened because of subdued demand during summer months. Domestic LPG prices, however, remain unchanged at Rs 853 per 14.2-kg cylinder, after a Rs 50 hike in April.Public sector oil firms — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) — adjust ATF and cooking gas rates on the first day of every month based on international benchmarks and currency exchange rates.Petrol and diesel prices have been frozen since mid-March last year, when they were cut by Rs 2 a litre ahead of general elections. Petrol costs Rs 94.72 a litre in Delhi, while diesel is priced at Rs 87.62.
Business
Big Boost For Govt Revenue: GST Soars 6.5% YoY Ahead Of Key Council Meet

New Delhi: Gross GST collection in August rose 6.5 percent year-on-year to Rs 1.86 lakh crore, supported mainly by stronger domestic revenue, according to government data released on Monday.
In comparison, gross GST collection stood at Rs 1.75 lakh crore in August 2024, while July 2025 had recorded a higher figure of Rs 1.96 lakh crore.
Domestic revenue grew 9.6 percent to Rs 1.37 lakh crore in August, while GST from imports declined 1.2 percent to Rs 49,354 crore. Refunds during the month dropped 20 percent year-on-year to Rs 19,359 crore.
After refunds, the net GST revenue came to Rs 1.67 lakh crore in August 2025, showing a robust 10.7 percent annual growth.
The latest GST data comes just ahead of the GST Council meeting, where the Centre and states are expected to discuss rate rationalisation and a possible reduction in the number of tax slabs.
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