Ten Things You Need to Know Today: 12 July 2022

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

1. Sunak to pledge tax cut

In his leadership campaign speech, Rishi Sunak will pledge to cut taxes once inflation has fallen and promise “a return to traditional Conservative economic values”, said The Guardian. As the race to become the new Tory leader gathers pace, “culture war issues, lurid rumours of affairs, business dealings and questionable tax statuses are flying back and forth between candidates”, added the paper. Hopefuls have just hours to secure the support of at least 20 MPs after the party increased the number of nominations required to make it onto the first-round ballot in order to hasten the selection process.

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