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The Latest Breaking News from Kwasi Kwarteng

Cristiano Ronaldo to save £1.4m in tax while Man Utd's debt rises by £80m

Chancellor Kwasi Kwarteng’s mini-budget has raised eyebrows across the world but Premier League stars will be left with more in their bank accounts despite clubs being hit hard by cost of living crisis and currency collapse

Daily Mirror

Bank of England takes emergency action to prevent 'material risk' to economy

The Bank announced it was stepping in to buy Government bonds - known as gilts - at an "urgent pace" after fears over the Government's economic policies sent the pound tumbling and sparked a sell-off in the gilts market.

Daily Record

Bank of England begins emergency bond-buying as UK borrowing costs soar

Chancellor moves to reassure markets after his 'mini-budget' on Friday sent Sterling to an all-time low against the Dollar

Insider UK

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Nicola Sturgeon speaks out as Tories land UK 'in grip of economic crisis'

THE First Minister of Scotland has demanded action from the Tory government, warning that the UK is in the “grip of a rapidly deteriorating…

The National (Scotland)

'Unmitigated disaster': Serious concern over IMF's warning to Tory Chancellor

The International Monetary Fund (IMF) rebuked the UK Government in the days following Kwasi Kwarteng’s mini-budget

The National (Scotland)

So how would you pay for it, Labour leader asked on his spending plans

Sir Keir said Labour was looking at reviewing taxes people pay on all income including from stocks, shares and dividends to raise money for his policy announcements

Evening Standard

Bank of England forced to intervene to stabilise economy after Kwasi Kwarteng mini-Budget

The Bank of England on Wednesday made an emergency intervention to protect Britain’s “financial stability” after Kwasi Kwarteng’s shock mini-Budget.

Evening Standard

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Keir Starmer: Comments by Rupa Huq were ‘racist and wrong’

Sir Keir Starmer has branded comments made by a Labour MP about the Chancellor being “superficially black” as racist. The Labour leader said Rupa Huq‘s remarks about Kwasi Kwarteng were “wrong”. The Ealing Central and Acton MP was suspended by the party on Tuesday after her comments emerged. Sir Keir…

Evening Standard

Liz Truss tax plans ‘profoundly unconservative’ says former Tory MSP

Adam Tomkins hit out at Kwasi Kwarteng’s mini-budget and said the UK ‘needs a Labour government’.

The Independent UK

Former Tory MSP says 'Britain needs a Labour government' as he slams Liz Truss over tax slashing mini-budget

Former Conservative MSP Professor Adam Tomkins accused the new Prime Minister and Chancellor Kwasi Kwarteng of "trashing" the Tory party brand and the UK economy.

Daily Record

Spending cuts made necessary by mini-Budget ‘could spell end of NHS’, top economist warns

Sir Charlie Bean, a former deputy governor of the Bank of England, said deep cuts would be needed to bring spending into line with GDP

Evening Standard

Bank of England takes emergency action as UK enters 'financial crisis territory'

THE Bank of England has been forced to intervene in an attempt to avoid a full-blown financial crisis after Liz Truss’s government announced…

The National (Scotland)

How the pound is performing against other currencies?

The pound fell against the Albanian Lek, the Lebanese pound, and the Malaysian Ringgit, among many others

The Independent UK

Pound to dollar: Why is the sterling so weak?

British pound slumps to lowest level against dollar since 1971 after Kwasi Kwarteng’s mini-Budget

The Independent UK

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The National (Scotland)

Former Tory MSP calls for LABOUR government in fierce attack on own party

A FORMER Scottish Tory MSP has launched an extraordinary attack on his own party, calling for a Labour government to run the UK.

The Guardian - UK

Rebuke from IMF is a global embarrassment for Truss and Kwarteng

Will PM and chancellor ignore advice under mounting pressure, which is also coming from US and Germany?

Daily Mirror

Keir Starmer slams Rupa Huq's 'racist' comments and refuses to say she'll rejoin party

MP Rupa Huq was suspended from Labour for 'ill-judged' comments to a conference fringe event, where she said Chancellor Kwasi Kwarteng was 'superficially' black

The Independent UK

Warning house prices could fall by 15% as banks hike mortgage rates

Veteran mortgage broker says he has not seen market move in such a way since 2008 financial crisis

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The Independent UK

John Swinney: I am very concerned by IMF statement on UK tax plans

The International Monetary Fund said it was ‘closely monitoring’ the situation, urging the Chancellor to ‘re-evaluate the measures’.

Evening Standard

IMF heaps pressure on Kwasi Kwarteng over tax cuts

Kwasi Kwarteng will step up efforts to reassure the City about his economic plans on Wednesday after the International Monetary Fund (IMF) criticised the measures and the Bank of England signalled sharp interest rate rises could be on the way. The Chancellor will meet investment banks following days of turmoil…

The National (Scotland)

'What criticism?': Tory MSP claims he never heard of IMF attack on UK tax cuts

THE Scottish Tories have backed the UK Government’s tax cuts despite an extraordinary intervention from the International Monetary Fund and the…

Evening Standard

Fears of Labour government caused market turmoil, claims Tory peer Daniel Hannan

Daniel Hannan played down concerns about the £45 billion package of tax cuts announced by Chancellor Kwasi Kwarteng.

The Independent UK

Moody’s warns against Kwarteng’s ‘unfunded’ tax cuts after IMF intervention

Global ratings agency questions ‘credibility of government’s fiscal strategy’ in stinging statement

The Independent UK

Fears of a Labour government caused market turmoil, claims Tory peer

Daniel Hannan played down concerns about the £45 billion package of tax cuts announced by Chancellor Kwasi Kwarteng.

Daily Record

Scottish Conservative MSPs accused of 'hypocrisy' for backing Liz Truss tax cuts

Several prominent Scots Tories were public supporters of Rishi Sunak - but have now embraced the tax cutting regime of Liz Truss.

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