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The Latest Breaking News from Kwasi Kwarteng

Kwasi Kwarteng says he had to do 'something different' after causing budget chaos

The Chancellor Kwasi Kwarteng has defended his mini-budget that sent the financial markets into a spin by saying he was left with "no other choice" and needed to do "something different"

Daily Mirror

‘Cruel and greedy’: high earners on Kwasi Kwarteng ditching top tax rate

Seven people in 45% tax bracket that chancellor is abolishing share how they feel about decision

The Guardian - UK

We had no choice but to do something different with economy, says Kwarteng

Liz Truss has admitted the Government caused ‘disruption’ of the markets, but insisted they were right to act.

The Independent UK

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The Weekly Wrap for Saturday, 1 October 2022

Honest and timely feedback is crucial when someone is starting a new role. This is true of any organisation: No. 10 Downing Street included . It's been 24 days since the investiture of Liz Truss as Prime Minister of the United Kingdom. How's she doing?

inkl Originals

Lamborghini Huracan Evo Spyder: Obviously you’re going to enjoy driving the thing

On the road, all I can say is that it’s the kind of car you don’t really want to get out of. I’d move in, if I could afford it, writes Sean O'Grady

The Independent UK

Truss admits mini-budget caused disruption, but says there is ‘clear plan’

‘Not everyone will like what we are doing’, PM says of tax cut pledges but says she is determined to see them through

The Guardian - UK

'Pensioners beware, expect the Tory's triple lock to hit the poorest in society'

Paul Routledge says don't fall for more of their lies, the Conservatives are desperate to get shot of the triple lock for good

Daily Mirror

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Truss concedes that £45bn mini-budget tax cuts caused ‘disruption'

'I recognise there has been disruption but it was really, really important we were able to get help to families as soon as possible'

Wales Online

Kwasi Kwarteng to keep expert OBR Budget verdict secret for nearly two months

Chancellor resists calls for ‘reset moment’ for economy despite OBR promising forecast next Friday

The Independent UK

Inside the breakdown of the UK’s mortgage machine

Market turmoil sparked by mini-budget saw banks scrambling and 1,688 home loans pulled from shelves

Financial Times

Truss admits £45bn mini-budget tax cuts did cause ‘disruption’

The Prime Minister insisted Chancellor Kwasi Kwarteng was right to act to get the economy moving.

The Independent UK

'Anyone paying attention' knew Liz Truss planned tax cuts, Alister Jack says

ONE of Liz Truss’s ministers has said “anyone paying attention” to the Tory leadership election would know she had planned to cut taxes.

The National (Scotland)

How Liz Truss plunged the UK to the brink of recession in just one month

The new prime minister began September promising a ‘new era’ for Britain. One economic crisis later, she has delivered

The Guardian - US

MP hits out at 'embarrassing' Prime Minister after Labour's poll lead surge

Some polls have given the party a 30 point lead plus over the Conservatives

Chronicle Live

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The Guardian - UK

Why OBR forecast is being held back until Kwarteng’s next fiscal plan

Huge policy changes are needed to get UK back on track – so early publication would give an incomplete picture

The Guardian - UK

The Guardian view on Tory shock therapy: the wrong medicine for the country

Editorial: Liz Truss’s policies have put the Tories behind Labour by 30 points. Without reversing course she will be in office but not in power

Tribune News Service

Truss should resign as UK prime minister, more than half of Brits say

More than half of Britons think Liz Truss should quit as UK premier, according to a YouGov poll that adds to her woes less than a month into the job.

The Guardian - UK

Keir Starmer can lock the imploding Tories out for a decade – if he gets the message right

Labour has a brief window to sear a narrative into the public’s mind, so the Conservatives are saddled with this crisis for years, says Guardian columnist Jonathan Freedland

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The Conversation

Three reasons a weak pound is bad news for the environment

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

The Guardian - UK

Liz Truss to push ahead with unlimited ‘investment zones’ despite costs row

Exclusive: Concerns about not capping number of areas allowed to get favourable tax and planning treatment

Nottingham Post

Government's energy bill support will 'only marginally' help households

Nottingham experts have had their say on a raft of government policies

Wales Online

Kwasi Kwarteng's old boss is making a fortune betting on falling pound

Crispin Odey described his bets against government debt as "the gifts that keep on giving"

The Guardian - UK

How Kwasi Kwarteng’s budget-busting growth plan turned into week from hell

Tories head to conference with rocketing mortgage rates, a sterling crash and a 33-point poll lead for Labour

The Guardian - UK

A new series immerses us in Russia’s 90s trauma – and the human cost of economic shock

Adam Curtis’s BBC project, TraumaZone, show us extraordinary events though the eyes of ordinary people, and how ideologues betrayed them, says Guardian columnist Marina Hyde

The Guardian - UK

‘The UK seems to have imploded’: how world’s press sees Truss’s Britain

Post-Brexit schadenfreude in Europe and warnings from US that new PM is ‘making UK look like Argentina’

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People

Luiz Inácio Lula da Silva

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Office for Budget Responsibility

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