Brown to meet G8 finance leaders
Gordon Brown, the chancellor, is to hold talks with his finance counterparts from G8 countries later today, with the challenges facing the supply and security of energy high on the list of priorities.
The finance ministers are meeting in St Petersburg, Russia, to address economic issues ahead of a summit of G8 leaders at the end of July.
As well as recent stock market instability, energy supply is believed to be the most pressing matter on the agenda, given recent concerns over the high price of oil and gas.
Russia is approaching Saudi Arabia as the world’s largest supplier of energy, and ministers are expected to ask the country to prove itself as a reliable energy partner, following the disconnection of Russian gas supplies to Ukraine last winter.
Talks will also take place between finance ministers from other countries about issues affecting world trade, including Brazil, China and India.
Energy supply has been on the UK domestic agenda in recent weeks, with the prime minister, Tony Blair, giving his apparent approval to nuclear power stations as the solution to perceived energy shortages.
Earlier this year he told delegates at a CBI conference that “nuclear power is back on the agenda with a vengeance” and yesterday at the annual Franco-British summit, Mr Blair and the president of France, Jacques Chirac, announced the creation of a nuclear forum, designed to encourage discussions between experts in the two countries.
In an article in the The Times this morning, Mr Brown gave his backing to nuclear power as a viable option, despite recurring concerns over safety.
The government’s own energy review is not due for publication until late July, but the stances of Mr Blair and Mr Brown can be seen as a massive indication its final findings.
