Today’s news summary – Paper Talk
Tuesday’s papers lead with various stories including the latest on the cost of living crisis, political stories and stories from sports and entertainment.
Cost of living crisis & soaring inflation
One of the more popular stories being splashed on the front page is the cost of living crisis as its forecast UK inflation could exceed 18.6% in January.
The Financial Times leads on the forecast and says 18.6% would be the highest rate among Western nations. This month the Bank of England predicted higher gas prices would push inflation above 13%, but the sector’s rapidly increasing cost has left economic projections out of date, the paper says.
The paper says the projection “heaps more pressure” on Liz Truss and Rishi Sunak to address the soaring cost of living and the Tory candidates need to be more specific abou their plans if they were to become PM.
“How will millions cope?” asks the front page of the Daily Express – reflecting on the prediction. The paper quotes consultancy Cornwall Insight warning “it is difficult to see how many will cope with the coming winter” as energy bills rise.
The Mirror quotes financial experts as saying a “winter of woe is looming” as prices rise.
The Times reports the forecast will put pressure on the Bank of England to increase interest rates in a bid to get the economy under control. The Citi report said the BoE might be forced to raise interest rates from the present level of 1.75% to as high as 7%.
The latest from No 10
The Daily Telegraph leads with an exclusive from refugee minister Lord Harrington who believes families hosting Ukraine refugees should have their monthly pay doubled. He asks the Treasury to increase the amount from £350 to £700 because of the rising energy bills.
The Guardian uses its front page to report that Liz Truss was responsible for cutting millions of pounds earmarked for tackling water pollution when she was the environment secretary.
The i newspaper uses its front page to suggest Liz Truss has backtracked over plans to hold an emergency budget to address the cost of living crisis if she becomes PM. The paper says she will instead hold a watered-down “fiscal event” which “avoids detailed scrutiny.”
Ellen White retires from football
Another lead story for Tuesday’s papers is the retirement of football hero Ellen White.
The Times calls White a “legend of the modern game,” the i newspaper declares that it is the end of a “goal-den era.”
The Guardian says she is hanging up her boots ar the “zenith of her career” – her announcement comes just weeks after England’s historic Euro win.
Other celebrity-focused stories find a space on this morning’s front pages – including Prince William and his family moving to Windsor to be closer to the Queen. The Daily Mail describes it as a “new life” for the young family.
The Mirror uses its front page to report on an exclusive interview with Sarah Kelly who was “left in tears” after footballer Cristiano Ronaldo knocked a phone out of her autistic son’s hands. She claims she was cheated out of justice and that Ronaldo doesn’t feel bad about what happened.
The Metro’s front page reports on a Rolling Stone interview with Harry Styles – in which the singer discussed a wide range of topics.