Ten Things You Need to Know Today: 29 July 2022

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

1. Energy giants’ profits branded ‘truly obscene’

Huge profits announced by two British giants have been slammed as “obscene”. British Gas owner Centrica made £1.3bn in the first six months of this year, while Shell “raked in £9.4bn in just three months,” said The Mirror. TUC general secretary Frances O’Grady described the profits as an “insult” and Howard Cox, of the FairFuelUK Campaign, said they were “truly obscene”. However, Tory leadership front-runner Liz Truss said last night that now is “not the time” for energy firms to pay more tax to help with the cost of people’s bills.

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