The Latest Breaking News from Andrew Bailey

The new Prime Minister also reimposed the fracking ban controversially scrapped by his predecessor.

CHANCELLOR Jeremy Hunt has delayed the Autumn Statement until next month following the appointment of Rishi Sunak as Prime Minister.

Jeremy Hunt is speaking to the House of Commons after Penny Mordaunt fielded an Urgent Question on the sacking of Kwasi Kwarteng

Britain's new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss's economic plan and scaled back her vast energy support scheme on Monday, making a historic policy U-turn to try to stem a dramatic loss of investor confidence.

Britain’s economy is expected to shrink around 0.2 per cent each quarter from October through to June next year

Editorial: The UN is right to warn that governments risk a worldwide recession precipitated by excessive rate rises

Truss is under pressure after making U-turns on two major policies, as new Chancellor Hunt makes a new budget plan.

There’s relief among Conservative MPs as the new chancellor seeks to bring stability back to government

Jamie Wallis, the MP for Bridgend and Porthcaw, said Ms Truss ‘no longer holds the confidence of the country’