Ten Things You Need to Know Today: 12 May 2023

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

1. Hunt faces tax pressure

Jeremy Hunt is facing a fresh showdown on tax with Tory MPs after the Bank of England raised interest rates again and upgraded its economic forecasts. Pressure will grow on the chancellor to cut taxes after it was predicted that Britain is on course to escape recession with 0.9% growth over the next year. However, according to the i news site, Hunt is understood to be concerned by forecasts of stubbornly high inflation – and is set to urge MPs to “hold fire” on taxation until prices are under control again.

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