Simon Walker, the Director General of the Institute of Directors, has welcomed today's report on fracking - the process of extracting natural gas from shale formations:
Shale gas is a plentiful, low cost fuel that offers a great opportunity to fill the energy gap left by the closure of coal fired power stations and the unreliability of renewables. Fracking has helped drive down American natural gas prices to a quarter of UK levels, and this decision means British business could gain those same benefits.
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A National Audit Office report shows that since 2009 the amount of tax paid by the super-rich appears to have fallen by £900 million.