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The Latest Breaking News from Common Wealth

Bidenomics lessons: Labour looks to Democrats as it prepares for power

Flagship US programme offers blueprint for Rachel Reeves, in echo of policy cooperation in era of Clinton and Blair

The Guardian - UK

UK ‘wastes billions’ on defence firms that give investors rich returns

Study claims taxpayer is subsidising up to 90% of weapons companies’ research and development budgets

The Guardian - UK

The wretched state of Thames Water is one of the best arguments for public ownership we have

Water privatisation in England and Wales has achieved just one thing: the enrichment of executives and overseas shareholders, says Mathew Lawrence of the thinktank Common Wealth

The Guardian - UK

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Fury as Shell makes £7.6BILLION in 3 months as Tory windfall tax failure blamed

The oil giant raked in a record £7.6billion in the first three months of this year, or £986 every second, and showered shareholders with £4.8billion

Daily Mirror

Green investment funds pushing money into fossil fuel firms, research finds

BlackRock and L&G among asset managers using funds with ESG label to invest in coal, oil and gas

The Guardian - UK

There’s a simple way to reduce the average UK electricity bill – and make energy cleaner

Recent research estimates a publicly owned generating company could reduce electricity costs by £252 per household a year, says Common Wealth analyst Chris Hayes

The Guardian - UK

State-owned electricity generation firm ‘could save Britons nearly £21bn a year’

Analysis by thinktank Common Wealth bolsters Labour’s case to launch national energy company

The Guardian - UK

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The energy sector isn’t ‘broken’, it’s cooking on gas – if you’re a profit-hungry shareholder

Under the current setup, delivering energy can only ever be incidental to the real business of reaping monster returns, says Mathew Lawrence, of the Common Wealth thinktank

The Guardian - UK

‘Rampant profiteering’: Unite asks Ofgem to cap power distributors’ profits

Exclusive: after UK networks rake in £15.8bn, Sharon Graham says they are holding the public to ransom

The Guardian - UK

BP declares £7bn profits while energy bills soar? It’s time to start taxing shareholder payouts

Closing tax loopholes would redirect more of BP and Shell’s bumper profits, says Joseph Evans of the IPPR

The Guardian - UK

Kwasi Kwarteng’s tax cuts will benefit richest amid dividend boom – report

Since pandemic shareholders have enjoyed large payouts at time of meagre workers’ pay growth, thinktanks find

The Guardian - UK

Labour is right: it’s time for Britain to profit from its own renewables

The proposals would ensure the power of our wind and waves is harnessed for everyone – not just foreign governments and multinationals, says Mathew Lawrence of the Common Wealth thinktank

The Guardian - UK

Multi-billion public investment in batteries needed to save UK car sector, report finds

Exclusive: Tens of thousands of jobs in industry of future at risk unless UK ramps up domestic production

The Independent UK

How UK backing electric cars revolution could create thousands of jobs in your area

Research shows a well thought out strategy for transitioning to electric vehicle manufacturing could create 33,000 new, well-paid jobs - and failing to do so could cost the country 90,000 jobs

Daily Mirror

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The Guardian - UK

Energy companies are bleeding British families dry. Here’s how to fix it

Taking back governmental control would be a long-term solution to a broken system, says Guardian columnist Owen Jones

The Guardian - UK

What’s really behind the failure of green capitalism?

The UK is witnessing extreme temperatures, prompting public outcry. Yet new proposals to counter this are coming up short, says incoming Common Wealth director Adrienne Buller

Daily Mirror

Red wall poll puts PM hopefuls under pressure to fix broken childcare system

Some 66% of voters in ‘red wall’ constituencies either somewhat or strongly support ‘a policy of free universal childcare’, according to polling carried out on behalf of the Common Wealth think tank, and campaigners Women’s Budget Group and Pregnant then Screwed

Daily Mirror

Red wall voters back windfall tax on all large companies to help with cost of living

Research by the Common Wealth think tank, carried out by pollster Survation, asked voters if they would back an extra tax on the profits of "large companies which have made billions of additional profits since the pandemic"

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The Guardian - UK

Loophole could let North Sea oil and gas giants slash UK windfall tax bill

Critics warn chancellor Rishi Sunak will raise only a fraction of planned £5bn if firms offset new investment against profits

The Guardian - UK

Windfall tax on oil giants won’t hurt British pensioners, thinktank finds

Review by Common Wealth reveals that UK pension funds hold tiny fraction of Shell and BP shares

The Guardian - UK

Wednesday briefing: Would a windfall tax on BP’s soaring profits work?

In today’s newsletter: Nimo Omer breaks down BP’s enormous profits, and why some are calling for a windfall tax amid a cost of living crisis nationwide

The Guardian - UK

Rate of UK dividend growth far outstripping wage increases, says report

Thinktank says workers would have £2,100 a year more on average if wages over past two decades matched shareholder payout rises

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