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The Latest Breaking News from Kwasi Kwarteng

Kwarteng faces massive market turmoil after disastrous day for sterling

The Treasury moved to settle the markets with the promise of a Budget next spring as the pound tumbled against the dollar on Monday.

The Independent UK

Starmer to quote Blair in calling Labour ‘political wing of the British people’

Sir Keir will outline an ambition to ‘turn the UK into a growth superpower’.

The Independent UK

Starmer to accuse Truss of ‘losing control’ of economy as he offers ‘fresh start’ for country

Labour leader borrows slogan from Tony Blair as he describes party as ‘political wing of British people’

The Independent UK

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Sterling hits all-time low: two things can turn this around but neither is straightforward

While most people in the UK were still in bed in the early hours of Monday morning, the pound dived. It fell over 4% during Asia trading to reach its lowest ever level against the dollar of US$1.035, while also hitting €1.079 against the euro. This was an exceptional fall,…

The Conversation

What could the Bank of England do after pound plummets to record low?

Analysts want Bank of England to increase interest rates to ‘restore credibility’ to UK economy

The Independent UK

Letters of no confidence in Liz Truss 'already being put in' by Tory MPs

It comes as the pound has hit an all-time low against the US dollar

Wales Online

Reeves sharpens economic dividing lines with vision of medium-sized state

The shadow chancellor again sought to reassure businesses that Labour would work with them in government.

The Independent UK

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Kwasi Kwarteng declines to comment as pound hits all-time low against US dollar

The Bank of England is expected to give a statement on the sterling’s slump

The Independent UK

Bank of England will change interest rates ‘as much as needed’ to control inflation, says Andrew Bailey

The Bank of England is watching developments in financial markets ‘very closely’, says Governor Andrew Bailey

Evening Standard

Targetting government, UK's Labour pledges sound finances and strong public services

Britain's opposition Labour Party set out its economic vision on Monday, promising, if in power, to be fiscally responsible and take care of public services, in a swipe at the Conservative government's tax cuts for the wealthy.

Reuters

Bank of England says it 'will not hesitate' to change interest rates in emergency statement

THE Bank of England is preparing to make an emergency statement this afternoon after the pound plummeted to its lowest ever level against the US…

The National (Scotland)

Furious Tory MPs hit out at chancellor after they are invited to a meeting to discuss his budget

‘Chancellors have resigned for less’, says one MP amid turmoil in markets

The Independent UK

SNP say no confidence letters are 'damning indictment' of Truss's 'disastrous' start

REPORTS of letters of no confidence in Liz Truss being sent to the 1922 Committee are a “damning indictment” of her first few weeks as Prime…

The National (Scotland)

Some Tory MPs submit no-confidence letters in Liz Truss after Pound crashes, sources claim

One MP told the Mirror 'some of my colleagues need to take up yoga' after the pound slumped against the dollar - as a source suggested there's a year before the 1922 Committee would act

Daily Mirror

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The Independent UK

Tumbling pound will intensify cost of living crisis, government warned

Fall in pound will ‘worsen inflation and lengthen the cost of living crisis’, says think tank

The Guardian - UK

Tory MPs furious with Liz Truss and Kwasi Kwarteng as pound crashes

Backbenchers express concern new leadership team has already lost them the next election

The National (Scotland)

Kwasi Kwarteng refuses to comment on pound crash in excruciating clip

The Tory MP was quizzed by a BBC journalist as he made his way to the Treasury offices in London

Chronicle Live

A1 dualling in Northumberland set be fast-tracked after Government pledge

The Northumberland railway line also looks set to be accelerated as part of Kwasi Kwarteng's 'mini budget'

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The Independent UK

Reeves: I’ll reverse abolition of 45% income tax rate to fund NHS staffing surge

The shadow chancellor said a Labour administration would also implement the “biggest expansion of medical school places in British history”.

The Independent UK

Kwarteng ‘not reading room’ with tax cuts for rich, says ex-England star Neville

Former footballer Gary Neville was speaking at the Labour Party conference in Liverpool.

Evening Standard

Government to push on with tax cuts as pound hits all-time low against dollar

Neither Chancellor Kwasi Kwarteng nor Liz Truss are currently expected to publicly address the major market shift, following Friday’s mini-budget

Liverpool Echo

Truss and Kwarteng 'desperate gamblers' as pound plummets

Shadow Chancellor Rachel Reeves describes the Prime Minister and Chancellor as 'out of control' as currency crashes following Friday's shock mini-budget

The Independent UK

How is British pound performing against other currencies?

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

The National (Scotland)

Tory party likened to 'doomsday cult' amid economic chaos and pound collapse

One economist gave a scathing assessment of the Tory party's fiscal plans

The Independent UK

When is the next Bank of England interest rate announcement?

Pound plummets as currency markets react against new chancellor’s drastic ‘mini-Budget’, prompting fears emergency intervention could become necessary

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