it wouldn t change gas prices and thatis it wouldn t change gas prices and that is correct but it is forgetting the fact that the treasury earns a lot of money on domestic gas production and this would contribute. production and this would contribute. , , ., . contribute. anything produced in the uk, does automatically contribute. anything produced in the uk, does automatically come - contribute. anything produced in the uk, does automatically come to - contribute. anything produced in the uk, does automatically come to the | uk, does automatically come to the uk, does automatically come to the uk or is it sold on global markets? it doesn t matter where it is sold, the treasury will still earn taxes and royalties from everything produced, the same as in the north sea, so we still get the benefit whether sold domestically or not, but it doesn t seem it would be sold internationally because you have to transport it, it would be more efficient to be sold domestically. we have seen co
it s the seventh consecutive time that they ve been increased by the bank of england, in an attempt to curb soaring prices. the rate has gone up from 1.75%. the bank of england hopes it will help bring down inflation which is the pace at which prices rise. inflation is currently at its highest level for nearly 40 years. the bank also forecast that the economy is already in recession. here s our economics correspondent andrew verity. it s been announced in the last hour that the chancellor will reverse the rise in national insurance. in st albans in hertfordshire, house prices have long been out of reach for most young people growing up here, even when lenders were offering the cheapest mortgage rates ever seen. now, after the bank of england raised interest rates by half a percentage point to their highest in 14 years, mortgage borrowers no longer have access to cheaper loans,