Snow falling on the day the energy price cap rose 54 per cent is a little on the nose. Indeed, were this a film or a play, our Arts Editor Nancy Durrant might criticise the director for lacking subtlety.
And then there is the cast of supporting characters. With the nation facing the worst squeeze to incomes for nearly 70 years and 2.5 million households face being plunged into “fuel stress” due to soaring energy bills, we bring you the boss of Centrica, which owns British Gas, defending its profits.
As our Political Editor Nicholas Cecil reports, chief executive Chris O’Shea admitted the energy giant’s pre-tax profits jumped by more than £500 million from its oil and gas exploration and production businesses last year.
But he pushed back against a windfall tax, insisting that 80 per cent of the additional profits had gone to the Government, leaving the firm with around £100 million.
So why isn’t the government doing more? Well, Rishi Sunak is worried about the UK’s debt burden and the possibility of interest rate rises swallowing up his precious fiscal headroom and pre-announced income tax cut.
But in today’s leader column, we point out that the Chancellor could have, but chose not to, provide more targeted support to those who need it most.
For example, he could have uprated benefits to keep in line with inflation. Instead, his decision to increase national insurance thresholds, while not the least progressive option, still meant that any cash gains were greatest for those on middle and higher incomes. As for the cut to fuel duty, don’t get me started...
Elsewhere in the paper, from Meghan Markle to Fergie and Peter Phillips — a brief history of the best royal side hustles.
In the comment pages, it is 40 years ago this weekend that General Galtieri’s forces landed on the Falkland Islands and claimed them for Argentina. But Defence Editor Robert Fox says the conflict’s anniversary is a moment to heed some harsh lessons.
And, he did men the world over a favour by making an early receding hairline and unshaven face fleetingly the hottest physical assets on the planet. Paul Flynn writes that Bruce Willis’s retirement leaves man-sized boots to fill.
Finally, this Morning has surprised Phillip Schofield with a £440 bottle of champagne to toast his 60th birthday. But we at the Evening Standard do things differently, in that I’ll be celebrating mine next month with a mandatory GDPR refresher course.
Have a lovely weekend.
