‘Apocalyptic’ food prices will be disastrous for world’s poor, says Bank governor

Bank of England’s Andrew Bailey blames UK’s highest inflation rate for three decades on Russia-Ukraine war

The Bank of England governor has blamed the war in Ukraine for the highest inflation in the UK for three decades and warned that “apocalyptic” food prices caused by Russia’s invasion could have a disastrous impact on the world’s poor.

Giving evidence to MPs, Andrew Bailey said while he was unhappy about the level of price rises, 80% of the inflation overshoot was caused by factors outside the Bank’s control.

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Watchdog urged to step in as UK’s poorest turn off energy supply

Spate of self-disconnections reflects rising costs, punitive debt collection and disproportionately high charges, says charity

A food bank charity has called for the energy watchdog to intervene after a spate of reports of penniless families self-disconnecting from their gas and electricity, leaving them unable to wash clothes, use cookers or even switch on lights.

Feeding Britain said people on low incomes who used prepayment energy meters were increasingly being pushed into destitution by rising costs, punitive debt collection rules and disproportionately high standing charges.

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Older UK renters forced to cut back on spending as living costs soar

Exclusive: Many tenants aged over 65 are already struggling, Independent Age research finds

Almost two-thirds of tenants over 65 have cut back on their general spending as a result of the cost of living crisis, and campaigners are warning that older people who do not own their homes are particularly vulnerable to rising bills.

Research shared with Guardian Money by the charity Independent Age puts the spotlight on the struggles of older tenants who are battling to keep up with rising household costs.

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Rishi Sunak: windfall tax an option if oil firms fail to invest in UK

Chancellor says he is ‘pragmatic’ about introducing a levy on energy companies to ease cost of living crisis

Rishi Sunak has insisted he is “pragmatic” about the idea of a windfall tax on energy companies, claiming “no options are off the table” in the clearest sign yet that the government is planning measures to tackle the cost of living crisis.

Labour has been calling for a windfall tax on oil firms, which have benefited from rocketing global prices, with the shadow chancellor, Rachel Reeves, suggesting the proceeds be used to cut domestic energy bills.

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Boris Johnson says windfall tax ‘not the right thing’ but refuses to rule out U-turn

The prime minister claimed ‘these kinds of taxes’ deterred investment, contrary to BP boss saying it would not

Boris Johnson has refused to rule out the introduction of a windfall tax which would help to relieve pressure on the cost of living crisis.

Speaking to LBC’s Nick Ferrari, Johnson said that while he believed a disadvantage of windfall tax would be the impact it would have on investment, the prospect of such a taxwas still something to be looked at.

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John Lewis boss calls for Covid-style cost of living aid package

Dame Sharon White follows Tesco chief in urging UK government to help with rising energy and grocery bills

The boss of John Lewis has urged the governmentto intervene with a financial package of support to protect families from the cost of living crisis on the same scale as it did to help the nation deal with the Covid pandemic.

Dame Sharon White, a former second permanent secretary at the Treasury, said the government needed to act urgently as families struggle to pay utility and food costs as energy bills and inflation soars.

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Queen’s speech: Boris Johnson ‘bereft of ideas’ to tackle cost of living crisis

Despite 38 new bills, opposition accuses government of failing to act to protect people amid soaring inflation

Boris Johnson was accused of being “bereft of ideas or purpose,” after a Queen’s speech that included 38 new bills but offered no specific measures to tackle the immediate cost of living crisis.

Instead, the speech, delivered by the Prince of Wales amid the pomp of the state opening of parliament, included plans to tear up the Human Rights Act, make it harder for councils to rename streets and privatise Channel 4.

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Local election leaflets show Tory candidates are ‘ashamed’ to be associated with Boris Johnson, Labour says – as it happened

Angela Rayner says Tory candidates at the local elections ‘are trying to hide from their own government’s record’. This live blog is closed – please follow this one for updates on the war in Ukraine

Savanta ComRes has published some new polling on voting intention in Scottish parliaement elections. Here are the figures for the constituency section.

And here are the figures for the list section.

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Boris Johnson’s ‘out of touch’ comments on cost of living crisis anger Tory MPs

PM’s interview on Good Morning Britain causes concern about party’s performance in upcoming local elections

Boris Johnson’s fumbled defence of the government’s record on the cost of living has exasperated Conservative MPs and sharpened fears about the party’s performance in Thursday’s local elections.

Asked about a pensioner forced to travel around on buses to stay warm and keep heating bills down, the prime minister’s first response was to boast that he introduced free travel for older people. During the interview on Tuesday, he admitted that the government had failed to do enough to alleviate the pain of soaring costs.

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Rising feed prices mean chicken could soon cost as much as beef, says Co-op

Price of UK’s most popular meat is rising faster than any other protein, according to retailer’s boss

Chicken’s relative affordability has helped make it the country’s meat of choice but one of the UK’s biggest food retailers has warned it could soon be as pricey as beef as production costs soar.

Steve Murrells, chief executive of the Co-op, said that feed costs had become a huge challenge for the poultry industry. “Chicken could become as expensive as beef. Chicken, which was incredibly cheap and great value for money, is rising quicker than any other protein.”

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Kwarteng and Sunak at odds over windfall tax on oil and gas profits

Government sources play down idea of cabinet split as business secretary quashes idea recently mooted by chancellor

Government sources have played down the idea of a cabinet split over a possible windfall tax on energy companies as the business secretary, Kwasi Kwarteng, firmly quashed the idea, days after it was mooted by the chancellor.

In a search for solutions to a crisis over energy prices, and the cost of living more widely, Rishi Sunak said a windfall tax, as advocated by Labour, was possible if energy companies did not properly reinvest bumper profits.

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Cost of living crisis forces UK cancer patients to cut back on food and heating

Macmillan survey suggests hundreds of thousands of people with cancer struggling to make ends meet

Hundreds of thousands of cancer patients are putting their lives at risk by cutting back on meals, heating and other essentials as a result of the cost of living crisis, a charity has said.

Macmillan Cancer Support said it was “hugely concerning” that large numbers of people living with the disease were having to resort to drastic cost-cutting measures to make ends meet.

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Buyers warned about rushing into government’s First Home Guarantee scheme

Predicted rate rises and falls in property values pose risks to those considering loans with a 5% deposit, experts say

First-home buyers have been warned to plan carefully before taking advantage of a federal government scheme that would allow them to secure property with a 5% deposit, at a time interest rates are predicted to rise.

Experts say the First Home Guarantee scheme could be appropriate for people who plan to stay in one spot for a while and are comfortable riding out a possible property value trough, but warn it could still be risky, especially in regional areas.

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Unprecedented inflation ahead as Ukraine war adds to costs, says Unilever

Rise in energy and ingredient costs suggests consumers will have to pay more for well-known brands

The consumer goods firm Unilever has said “unprecedented cost inflation” lies ahead as Russia’s war on Ukraine has added to a surge in energy and ingredient costs, and said that shoppers will pay even more for well-known brands in the coming months.

The company, which makes goods ranging from Dove soap to Magnum ice-cream and Marmite, said on Thursday it expected its costs to rise by €2.7bn (£2.3bn) in the second half of 2022, after an already steep increase on the €2.1bn expected for the first half.

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Keir Starmer denies Partygate has distracted Labour from cost of living crisis – UK politics live

Latest updates: Labour’s leader says his party has a ‘laser-like focus on the cost of living’

At the Commons standards committee Mark Spencer, the leader of the Commons, and Michael Ellis, the Cabinet Office minister, have been giving evidence about the MPs’ code of conduct.

Asked if the MP responsible for the sexist briefing about Angela Rayner to the Mail on Sunday had broken any rules in the code of conduct for MPs, Spencer said the person was not showing leadership or integrity - two of the general principles in the code that MPs are meant to uphold.

I don’t suppose they’ve broken any rule in the house, or committed a crime that could be charged in general society. I think they’ve just acted, frankly, in an inappropriate way, and that should be roundly condemned.

If your contention is that there ought to be a new requirement to explicitly, or more explicitly, demonstrate anti-discriminatory attitudes, then the balance that has to be borne when one starts to drill down ... one has to consider the chilling effect that, unwittingly, on debate that might be affected.

As [Spencer] was saying, nobody wants to stifle legitimate debate, even raucous, robust debate, even politically contentious issues where people express themselves in an obnoxious fashion, because it’s important to our democracy don’t people don’t feel intimidated into expressing their views.

Members should abide by the parliamentary behaviour code and should demonstrate anti-discriminatory attitudes and behaviours through the promotion of anti-racism, inclusion and diversity.

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Almost nine in 10 British adults say their living costs are rising

ONS says a quarter of households in survey are struggling to pay bills such as fuel and food

Almost 90% of British households reported an increase in their cost of living last month as they were hit by escalating fuel, food and borrowing costs.

Heaping further pressure on Rishi Sunak to increase his support for those on low and middle incomes, the Office for National Statistics said a quarter of all those in its survey were struggling to pay their bills and 17% had turned to loans or borrowing on credit cards to make ends meet.

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Local elections: ‘It’s Partygate versus low council taxes’

The Tories have held Wandsworth for more than four decades, but Boris Johnson’s lockdown woes and the cost of living crisis threaten to tip the balance towards Labour

In many ways, the London borough of Wandsworth is a paradigm of the modern capital. On one hand, it is a place where a teenager recently fainted from hunger in a food bank queue. And on the other, it is home to the “sky pool”, a spectacular transparent swimming pool suspended 10 storeys above ground in Nine Elms, and reserved exclusively for the development’s richest residents.

The borough is also known for its comparatively low council tax – which, its Conservative-run council boasts, is the lowest average council tax in the country. Wandsworth also claims to be the only local authority in London that is cutting its share of council tax bills.

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Labour says it will insulate 2m houses in first year to cut bills

Ed Miliband says move will ease energy price crisis and reduce dependence on Russian gas

Labour has said it would insulate 2m houses within a year to slash bills and reduce reliance on Russian gas, accusing Boris Johnson of a “shameful” failure to stop Britain’s homes leaking heat.

The government put major nuclear and onshore wind projects at the heart of its energy security strategy announced earlier this month, but faced criticism for failing to include any new measures on insulation despite the UK having some of the draughtiest housing in Europe.

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Government plans new laws to protect Britons who use savings clubs

Move comes 16 years after collapse of Christmas savings club Farepak, which left thousands unable to access cash

New laws are to be announced this week aimed at protecting the hundreds of thousands of Britons who use savings clubs to put money aside for Christmas or pay for other items in advance.

The government said it would also look at whether there were other sectors posing risks to people who prepay for goods or services, and whether similar protections were needed. Home improvements and weddings are two examples of big-ticket items where people frequently hand over substantial sums in advance.

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One in eight privately rented homes in England pose threat to health, MPs say

Serious health and safety risks costing NHS £340m a year, public accounts committee report finds

More than one in eight privately rented homes in England pose a serious threat to people’s health and safety, costing the NHS about £340m a year, according to a report from a committee of MPs.

It also uncovered evidence of unlawful discrimination, with an estimated one in four landlords unwilling to let to non-British passport holders.

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