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The Latest Breaking News from Kwasi Kwarteng

Pound at two-week high as FTSE 100 posts best day since June – as it happened

Chancellor denies reports that he will bring his medium-term fiscal plans forward to this month, despite pressure from markets and MPs

The Guardian - UK

Liz Truss news – live: Braverman backs 45p tax rate cut and claims U-turn was ‘coup’

Truss faces a new battle with her MPs on welfare after 45p tax rate U-turn

The Independent UK

Britain's weakened Truss faces fight for credibility

British Prime Minister Liz Truss had hoped her governing Conservative Party's annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility.

Reuters

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Players will be cut adrift by scrapping of EuroPro Tour - Nick Rodger

Can you remember when the late Jeremy Beadle used to play all manner of pranks on unsuspecting members of the public and would tease them into a…

The National (Scotland)

Chancellor Kwasi Kwarteng makes second U-turn in two days as he promises to set out debt plan earlier than planned

Kwasi Kwarteng has made the change after markets reacted badly to his package of tax cuts

Wales Online

Tuesday briefing: The Truss thinkers that tanked the Tories

In today’s newsletter: Free market thinktanks are rejoicing at Kwasi Kwarteng’s neo-Thatcherism. But how do they operate – and what might their influence mean for Britain?

The Guardian - UK

Kwasi Kwarteng may have U-turned, but huge spending cuts are still coming

The government is clinging to £43bn of tax cuts. Public services and those on benefits will feel the pain, says former prime minister Gordon Brown

The Guardian - UK

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Tories seek to shift focus from economy after U-turn humiliation

The Government are turning their attentions to immigration and supporting Ukraine

Wales Online

Pound – live: Sterling bounces back in Asia trading after Truss U-turns

Pound rises to $1.1343, a bounce of about 10% from last week’s record low against dollar

The Independent UK

‘Damage is done’: what the papers say after Truss and Kwarteng’s tax U-turn

The UK newspaper front pages pull no punches after PM and chancellor perform reversal over 45p tax rate for high earners

The Guardian - AU

What the papers say – October 4

Turbulence in the Tory party leads many of the front pages.

The Independent UK

45% tax U-turn is too late to stop mortgages soaring, experts warn

More than 40% of mortgage products were pulled after Kwasi Kwarteng's mini-Budget triggered a slump in the pound, with the average two-year fixed rate now close to 6%

Wales Online

'Shameless PM and Chancellor forced into 45p U-turn by public backlash'

Savage cuts to key public services, benefits losing value by rising below inflation and expensive extra borrowing are also on the way

Daily Mirror

'Tory MPs cashing in on Rupa Huq's offensive Kwarteng comments fail to see own record'

Our columnist Darren Lewis doesn't mince his words as he calls out Tory MPs and right-wing commentators for jumping on the opportunity to criticise Huq's comments without looking at their own behaviour

Daily Mirror

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Daily Mirror

Tories laugh as Kwasi Kwarteng forced into humiliating U-turn - but 'damage already done'

Mr Kwarteng was forced to abandon his plan to give a massive tax cut to millionaires - but critics warned the damage has already been done after the Bank of England had to step in

Daily Mirror

Kwasi Kwarteng U-turn is too late to stop mortgages soaring, experts fear

More than 40% of mortgage products were pulled after the Chancellor’s Budget triggered a slump in the pound and fears of interest rate hikes. The average two-year fixed mortgage rate is now close to 6%

The Guardian - UK

Night of the hurried U-turn: how Truss and Kwarteng dumped their tax cut

Even as Liz Truss was being toasted for her tax-cutting boldness, the PM and chancellor were bowing to clamour to reverse course

Evening Standard

Kwasi Kwarteng ‘to bring forward plan to cut debt after 45p tax U-turn’

The chancellor will accelerate the publication of his medium-term fiscal plan later this month, according to reports

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The Guardian - AU

Morning mail: Queensland police failure in assault case, UK U-turn on tax cuts for well-off, ID scam fears

Tuesday: Queensland and NSW police lost key documents and failed to investigate a series of alleged sexual assaults against a 14-year-old girl. Plus: the must-read books for October

The Independent UK

Tory MPs ‘openly talking’ about removing Liz Truss, says ex-No 10 chief of staff

‘Very difficult’ for PM to recover, says Nick Timothy – as Rachel Johnson predicts Truss could ‘go down with the pound’

The Guardian - UK

Tory MPs plot to avert benefit squeeze after humiliating U-turns

Kwasi Kwarteng to bring forward fiscal statement to later this month amid disquiet in party over spending cuts hitting poorest

The Guardian - UK

Kamikwasi Kwarteng delivers his excruciating career suicide note

Tactless jokes and half-arsed platitudes made up chancellor’s vapid Tory conference speech

The Guardian - UK

Tories accuse police of failing to protect conference delegates from protesters

West Midlands police blame shortchanging by Home Office as party officials report abuse and assaults on delegates

Chronicle Live

DWP announces exact dates £324 cost of living payment will be paid into bank accounts

The £324 payment - which is the second half of a £650 package for those on some benefits - will flood into accounts between November 8 and November 23

Daily Mirror

Kwasi Kwarteng will announce his plan for cuts early in SECOND budget U-turn

Kwasi Kwarteng axed the 45p tax cut earlier today after widespread critisim in what's been a tumultuous few days for the new Chancellor and Prime Minister Liz Truss

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