Prime Minister Liz Truss is to hold a press conference later on Friday, Downing Street has said.
The Times is reporting the press conference is being held as the Prime Minister prepares to 'sack' her Chancellor, Kwasi Kwarteng. Downing Street have not commented.
The Times political editor, Steven Swinford, tweeted: "I'm told that Kwasi Kwarteng is being sacked as Chancellor as Liz Truss prepares to reverse the mini-Budget. Not clear who will be replacing him. Events moving very, very quickly this morning. No 10 not commenting."
