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The Latest Breaking News from Kwasi Kwarteng

Labour to pile pressure on government for further U-turns over ‘disastrous’ mini-Budget

Party intends to use parliamentary processes to force the Tory chancellor to reverse his budget

The Independent UK

Chancellor’s tax giveaways mean ‘painful’ £60bn spending cuts, IFS warns

The government must slash spending by £60bn and risk political turmoil to get debt under control unless it abandons plans for lower taxes, a leading economic think tank has warned

The Independent UK

Unfunded tax cuts mean UK ‘will need £60bn spending cuts’

IFS says Kwasi Kwarteng’s mini-budget will leave ministers making serious reductions in public services

The Guardian - UK

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Kwarteng faces finding £60bn of public spending cuts, says IFS

The Institute for Fiscal Studies said efficiency savings and ‘trimming the fat’ will not be enough to get debt falling.

The Independent UK

Dithering Truss leaves families in benefit limbo as Kwarteng may need to cut £60BILLION

Lib Dem Wendy Chamberlain warned the failure of Prime Minister Liz Truss to make a decision on benefits meant "millions of people are left in a grim limbo" across Britain

Daily Mirror

Opposition seeks to pile pressure on PM as Parliament returns

Parliament returns on Tuesday, after a remarkable recess punctuated by Tory infighting and market turmoil.

The Independent UK

Unearthed 2018 clip shows Liz Truss warn tax cuts like hers could lead to 'boom and bust'

The clip, taken in 2018, showed the PM appearing to contradict her £43billion plan to slash taxes, which will increase the national debt.

Daily Record

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Kwarteng’s latest ‘we’re listening’ messaging fails to reduce credibility gap

Worryingly, gilt yields are rising again and another potential cliff-edge moment comes on Friday

The Guardian - UK

Liz Truss warned tax cuts like hers could lead to 'boom and bust' in unearthed 2018 clip

The embarrassing footage from when Liz Truss was at the Treasury appears to contradict her £43billion plan to slash taxes, which will hugely increase the national debt

Daily Mirror

Truss overrules Kwarteng Treasury pick in bid to calm markets

Veteran official gets permanent secretary role instead of reformer as fiscal plan is brought forward by three weeks

The Guardian - UK

Treasury insider is the new top official in the department

James Bowler is appointed permanent secretary following the sacking last month of Sir Tom Scholar.

The Independent UK

Commanding no loyalty, with no winning moves, Liz Truss is facing her endgame

Conservative leaders can survive being detested – but when the party starts to think about who could replace them, it’s all over, says ConservativeHome deputy editor Henry Hill

The Guardian - UK

Liz Truss’ history of U-turns after first major reversals as Prime Minister

The Prime Minister has history of U-turns, both large and small

The Independent UK

Treasury brings forward next tax update to Halloween alongside OBR forecasts

Confirmation of the date comes as the Bank of England also seeks to reassure markets on its intervention in UK debt market

Evening Standard

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The Independent UK

What would happen if the IMF bailed out Britain?

Fund issues rare rebuke to UK warning against pursuing Kwasi Kwarteng’s tax-slashing agenda

The Independent UK

Liz Truss’ history of U-turns after first major reversal as Prime Minister (cloned)

The Tory frontrunner has performed many U-turns, big and small

The Independent UK

UK Treasury chief to bring forward fiscal plan publication

Britain’s Treasury chief says he will bring forward the publication of the government’s full fiscal statement after facing widespread criticism for not providing details about a multibillion-pound, tax-cutting stimulus package he announced last month

Evening Standard

Bank of England doubles daily bond limit to try and reassure financial markets

The Bank of England said that the measure would help pension funds and asset managers to make adjustments to their investments

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Evening Standard

Chancellor urged to act now to ‘defuse mortgage ticking time bomb’

The Liberal Democrats predict roughly 168,000 more homeowners will have been hit by a new higher rate by November 23.

The Guardian - UK

UK borrowing costs hit highest levels since September market chaos

Yield on 10-year government bonds rises above 4.5% despite Bank of England trying to quell jitters

Manchester Evening News

Chancellor bows to pressure again and brings forward his fiscal plan to Halloween

Kwasi Kwarteng will set out his economic plans on October 31 following a U-turn

Evening Standard

Kwasi Kwarteng bows to pressure and brings forward debt-cutting plan to Oct 31

Kwasi Kwarteng has bowed to pressure and brought forward the publication of a report from the Government’s independent fiscal watchdog.

The Independent UK

Liz Truss - live: Sturgeon claims Tories ‘utterly failing’ UK on cost of living crisis

Scotland’s first minister said Truss’s recent fiscal decisions were ‘unconscionable’

Wales Online

Kwasi Kwarteng U-turns and agrees to Halloween publication of economic vision

New date of Monday, October 31 announced

The Guardian - UK

Kwasi Kwarteng to launch debt-cutting plan on 31 October

Chancellor will also bring forward publication of OBR forecasts after pressure from MPs

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