Wednesday morning news briefing: Inflation hits 40-year high

It is another sign of the cost-of-living crunch that is hitting British households hard. According to new official figures released at 7am, inflation increased at its fastest rate since 1982 last month.

The consumer price index rose to 9pc in April from 7pc in March, the latest ONS numbers show. The surge was driven by an unprecedented spike in energy costs, as the price cap rose by 54pc. James Warrington has the latest.

It heaps pressure on the Bank of England, whose remit is to keep inflation at 2pc. Lord King, a former Governor, accused Andrew Bailey, the current Governor, of "serious mistakes" in fighting inflation and warned of a prolonged bout of painful price rises.

The crossbench peer said officials fuelled a surge in prices with a money-printing spree during the pandemic.

Yet Ambrose Evans-Prichard argues that, rather than attacking Mr Bailey, we should be reassured he is not losing his head.

There is now mounting pressure from the public and MPs from all parties to offer more help over the cost-of-living crisis as prices and energy bills soar.

Ministers are warming to the idea of a windfall tax on oil and gas companies, after internal government polling discovered it is "wildly popular" with the public.

Voter research conducted in Whitehall has found that as many as eight in 10 people back the tax raid on energy companies with increased profits, The Telegraph can reveal.

The polling is said to have found voters consider oil and gas companies "corporate cowboys" who have profited from soaring prices.

Political editor Ben Riley-Smith says the results help explain why Rishi Sunak, the Chancellor, has kept the door open to a one-off windfall tax.

Conservative MP arrested on suspicion of rape

A Tory MP has been asked to stay away from Westminster after being arrested on suspicion of rape and a string of other sexual offences spanning seven years. The politician was being questioned by Metropolitan Police officers yesterday after being accused of rape, indecent assault, sexual assault, abuse of a position of trust and misconduct in a public office. Police visited his office on the parliamentary estate, but the arrest took place elsewhere. The MP, who is in his 50s, will retain the Tory whip and be allowed to take part in debates. The Conservative Party is under pressure to name the MP to prevent other politicians falling under suspicion.

American military 'has seen about 400 UFOs'

It might sound like something from a film, but a top Pentagon intelligence official has told Congress that the US military has had 11 close encounters with UFOs. In the first public hearing of its kind for over half a century, intelligence chiefs revealed they have recorded about 400 UFO sightings in total. As US editor Nick Allen reports, sightings have more than doubled in the past year as reduced stigma led to a flood of reports from military personnel about historical events.

Daily dose of Matt

In his latest cartoon, Matt finds humour in the debate on home-working. And view cartoonist Blower's latest work.

Also in the news: Today's other headlines

Lucrative contracts | The Black Lives Matter foundation paid hundreds of thousands of dollars to its co-founder's brother and the father of her child for security and "creative services", tax filings show. The leaders of the racial justice movement received $90 million in donations amid the 2020 protests triggered by the police murder of George Floyd. Washington editor Rozina Sabur reports how the organisation was shown to have paid huge sums to a select group of consultants.

• Northern Ireland | European Union 'to give ground over Protocol'

• Rail commuters | 'Introduce rail miles and scrap peak tickets'

• Wave goodbye to cards | Checkouts let you pay with a smile

• Rodent attack | Rat gnawed on pensioner's face as she slept

• 'I'm a fisherman, not a fisher' | First woman to reel in top title

Around the world: Death penalty risk for evacuees

Ukrainian soldiers evacuated from the last stand of the Mariupol steelworks should be executed, Russian MPs and former military commanders said, as they urged Vladimir Putin to tear up plans for a prisoner swap. The siege of Mariupol drew to a close yesterday after more than 200 fighters, many injured, were taken by bus to Russia-controlled towns as part of a negotiated withdrawal. Early today, Ukrainian president Volodymyr Zelensky said the country's military and intelligence officers were still working to extract its remaining troops.

Comment and analysis

• Liz Truss | These moves are about making the Protocol work

• Madeline Grant | Britain is squandering Mrs Thatcher's legacy

• Allison Pearson | Yet more waste and wokery in the NHS

• Alan Cochrane | Two-faced Nicola Sturgeon a danger to Nato

• Reader letters | Bank in denial over its role in the inflation crisis

Editor's choice

1. The mid-size woman | Why has the fashion world forgotten her?

2. Hands off our second homes | Why Cornwall can't survive without holiday properties

3. Review | Andrew Morton's Queen biography feels like atonement for Diana bombshells

Sport briefing: Title will go down to wire

Liverpool ensured the Premier League title race will go to the final day of the season by coming from behind to beat Southampton 2-1 at St Mary's last night. Although Jurgen Klopp's side's chances of winning a 20th league championship remain somewhere between a wing and a prayer, chief football writer Sam Wallace says there is something about the way in which they keep coming back for more that makes you wonder. Meanwhile, Sheffield United's Billy Sharp was headbutted and required stitches after last night's stormy Championship play-off semi-final.

Business briefing: Executive linked to biggest fraud

A senior executive at the cyber security company Darktrace has been named as "part of a clique" behind Britain's biggest ever fraud in a ruling at the High Court. Nicole Eagan, chief strategy officer, was also investigated by the US Department of Justice for her role in the toxic £8.9bn sale of software business Autonomy a decade ago, Mr Justice Hildyard revealed in a judgment. Gareth Corfield reports.

Tonight's dinner

Quick-fried chorizo, potato and asparagus salad | An ingenious way of using up leftover salad, without compromising on flavour. See the recipe and try our Cookbook newsletter for more inspiration.

Travel: Which is the Med's ultimate holiday island?

Corsica and Sardinia each offer holidays beyond that which is purely adventurous. Both islands are rich in history, food, culture and scenery – and are unashamedly wild. Pick the one that suits you with our two potted guides, by travel writer Chris Leadbeater.

And finally... for this morning's downtime

Torment, treadmills... and smuggled biscuits | 125 years ago today, Oscar Wilde was released from Reading Gaol. Today, the building is still haunted by its past. Thomas W Hodgkinson explores what the great writer's time inside was really like.