Ten Things You Need to Know Today: 29 December 2021

The Week’s daily digest of the news agenda, published at 8am

1. ‘Cost of living catastrophe’ imminent

UK households face a hit of £1,200 next year as rising tax and energy bills cause a “cost of living catastrophe” in the spring, the Resolution Foundation said. The thinktank said government measures, including the new social care levy on national insurance and the freezing of the personal income tax allowance, will combine with high inflation to make 2022 the “year of the squeeze”. Labour has criticised Boris Johnson for failing to step in.

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