The Latest Breaking News from Kwasi Kwarteng

Ms Truss sacked chancellor Kwasi Kwarteng and reversed plans for a cut to corporation tax on Friday.

The Prime Minister has appointed Jeremy Hunt as the new Chancellor of the Exchequer.

Jeremy Hunt, the new chancellor for Liz Truss, was given a pet name by his Chinese-born wife, Lucia, who said the moniker came from her grandmother when they went to China for their wedding

The Chancellor has already lasted longer in the job than his predecessor Kwasi Kwarteng – so does his first Budget fit the serious, “steady” reputation he’s become known for? Katie Strick reports

First Minister Mark Drakeford was reacting to the Prime Minister's latest U-turn and sacking of her chancellor

He was speaking before news broke that the Chancellor had been sacked

A press conference that could have been an email. Dressed in funereal black, Liz Truss stood at the podium for roughly 494 seconds, each more excruciating than the last. She made a brief statement before taking all of four questions. What did we learn?

Admitting she had to change course, she reversed a key policy to scrap the planned rise in corporation tax from 19% to 25%.

PM is no stranger to about-turns and, less than two months into her premiership, they just keep coming