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The Latest Breaking News from Kwasi Kwarteng

Kwarteng 45p tax U-turn ‘won’t make substantial difference’, warns ex-deputy Bank of England governor

Sir Charlie Bean, said the chancellor’s U-turn will not be enough to calm down the financial markets

The Independent UK

Treasury deletes misleading claim about benefits of Kwasi Kwarteng’s budget

Claimed benefits for average earner would need someone to have a wealth of over £400,000

The Independent UK

The Mancunian Way: A cool £8bn

Read the Mancunian Way newsletter for Monday October 1, 2022.

Manchester Evening News

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Tory party chair Jake Berry rapidly alienating fellow MPs – and voters

One former minister calls him the ‘worst performing cabinet minister so far’ in Liz Truss’s government

The Guardian - UK

Chancellor Kwasi Kwarteng branded 'patronising' after describing market turmoil as 'a little bit of turbulence'

“Laughing about the turbulence caused by this botched budget is an insult to the millions of people already facing spiralling mortgage costs"

Manchester Evening News

'The damage is already done' – Truss and Kwarteng branded 'incompetent' after 45p tax rate U-turn

One North East MP accused the government of having "lost all credibility" after dropping plans to cut the top rate of income tax for the highest earners

Chronicle Live

Don’t be fooled by the Tory tax U-turn

Brief letters: Tory ideology lives on | Kwarteng’s humility and contrition | A Truss moment | Conference gamble | Radioactive element

The Guardian - UK

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Chancellor accused of ‘insulting millions’ with joke about budget

Said his plan had caused ‘a little turbulance’

The Independent UK

‘Empty, unremarkable, muted’: how commentators saw Kwarteng’s speech

The verdicts came swiftly on the chancellor’s speech after his high-profile tax U-turn

The Guardian - UK

'What a day': Chancellor admits 'tough' time after humiliating U-turn in defiant speech

KWASI Kwarteng began his speech to the Conservative Party conference by acknowledging it had been a "tough" day as he battled to restore…

The National (Scotland)

Desperate family with toddler start sleeping in car during cost of living crisis

The family, found sleeping in a Kia in Leeds on Friday night, were using some clothes to keep warm. They just had some bags of clothing and not much more, a team supporting vulnerable citizens said

Daily Mirror

Liz Truss' failed bid to become a 21st-Century Margaret Thatcher

In 1981 Thatcher took the drastic but successful step of increasing taxes by 2% of GDP to tackle interest rates and inflation. But Truss has just done a reverse-Thatcher, says Oliver Hartwich

Newsroom.co.nz

More concessions needed to fix UK’s reputation in markets, Kwarteng is told

After tax U-turn, economists urge chancellor to backtrack on other controversial plans in mini-budget

The Guardian - UK

Piers Morgan set for explosive Question Time return after Tory U-turn on tax cuts

Former Good Morning host Piers Morgan has said that he's excited to make an explosive return to BBC's Question Time following Liz Truss and Kwasi Kwarteng's tax cuts U-turn

Daily Mirror

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The Independent 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 Guardian - UK

Kwasi Kwarteng admits tax plans caused ‘a little turbulence’

Chancellor addresses Tory conference hours after abandoning plan to ditch 45% top rate

Daily Mirror

Kwasi Kwarteng jokes 'what a day' after U-turn and admits Budget 'caused turbulence'

Chancellor Kwasi Kwarteng tried to make light of his U-turn on tax cuts for the rich - and Tory members laughed as he said it had 'caused a little turbulence'

The National (Scotland)

Nicola Sturgeon says UK Government must overhaul entire mini-budget after tax cut U-turn

NICOLA Sturgeon has insisted the UK Government must completely overhaul its package of plans to spark growth in the economy.

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Evening Standard

Conservative Party conference locked down by police due to potential security incident

The Conservative Party conference went into lockdown due to an unknown potential security incident, it was reported on Monday afternoon.

Daily Mirror

Tory conference put into lockdown amid security alert moments before Kwarteng speech

The security alert came shortly before Chancellor Kwasi Kwarteng was due to give a highly anticipated speech to Tory party faithful

Evening Standard

The Leader podcast: Can Liz Truss recover from humiliating tax U-turn?

Chancellor Kwasi Kwarteng has defended his rapid tax cut U-turn on the first main day of the Conservative Conference, saying he was influenced to scrap the policy after listening to MPs and people up and down the country.

The Conversation

Pound recovers but remains at low levels – how to assess the long-term value of sterling

The pound has recovered from a recent record dip after the chancellor’s mini-budget announcement. But it is still at low levels versus many other currencies.

Manchester Evening News

DWP urged to confirm date of £324 cost of living payment as people 'struggling' with bills

'Weather is getting colder each day and energy prices are ridiculous. People want to stay warm but can’t afford to put the heating on'

The National (Scotland)

Tory public service cuts of £18bn to pile MORE pressure on Scottish budget

FRESH plans for a new wave of Tory austerity will deliver a “hammerblow” to struggling households and put further pressure on Scotland’s…

Evening Standard

Pound and gilts rally as Kwarteng U-turns on top tax rate

Money markets reined in expectations on next interest rate rise from Bank of England

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