Tories pile pressure on Truss and Kwarteng to reverse tax-cutting plan

Liz Truss and Kwasi Kwarteng’s financial measures had ‘blown the bloody doors off the economy’, one MP said. Photograph: Jessica Taylor/House of Commons/Reuters

Liz Truss and Kwasi Kwarteng are under increasing pressure from Conservative MPs to U-turn on their tax-cutting plans as the pound tumbled again after the Bank of England’s emergency intervention.

Tory MPs expressed disbelief at how the government’s announcement had sunk sterling and caused market turbulence during the cost of living crisis and worst economic backdrop in a generation.