Ten Things You Need to Know Today: 3 August 2023

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

1. Tories fear rates backlash

Interest rates are expected to rise for the 14th successive time today. Most economists have predicted the Bank of England will increase its base rate to 5.25% from its current 5%. Several Tory MPs told the inews site that they were increasingly concerned about the impact of high interest rates on the party at the ballot box. “The reality is to get inflation under control, people do have to be poor,” said one backbencher. “You have to have less money. But that is not a particularly politically sellable strapline.”

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up
Latest Videos FromThe Week US

Explore your latest briefing

Explore your latest briefing