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The Latest Breaking News from Kwasi Kwarteng

Biggest interest rate rise for 25 years could spell showdown at the Bank

This week’s decision could pit governor Andrew Bailey against an expansionary PM and chancellor

The Guardian - UK

Liz Truss warned of mass bankruptcies if firms left in limbo over energy bills

PM to join in national ‘moment of reflection’ at No 10 as businesses warn of dire consequences if left in limbo over energy bills

The Guardian - UK

Hard-up couples expected to receive much-needed £2,500 windfall in emergency budget

New Chancellor Kwasi Kwarteng will assess whether it is viable to allow the transfer of personal tax allowances between couples - which will be a lifeline if one earns less than the tax free threshold

Daily Mirror

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Kwasi Kwarteng expected to announce £30 billion in tax cuts this week

National Insurance and Corporation Tax rises on the block

The Independent UK

Queen's death upends the debut of new UK leader Liz Truss

British Prime Minister Liz Truss took office less than two weeks ago, impatient to set her stamp on government

The Independent UK

Kwarteng to announce £30bn of tax cuts in mini-budget – reports

Chancellor expected on Friday to outline proposals to deal with cost of living crisis and boost growth

The Guardian - UK

The heat is on after Liz Truss’s extraordinary energy bill gamble

The PM will hope for some credit for taking out the big bazooka, but there are fears it’s missing the target and may backfire

The Guardian - UK

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Government warned foreign investors could desert Brexit Britain as pound hits 37-year low

City expert says ‘very bad’ figures suggest UK already in recession

The Independent UK

Companies declared insolvent in England and Wales jump by 43%

Businesses may struggle as consumers cut back spending amid high inflation and rising fuel costs, economists warn

The Guardian - UK

Only 15% of public support plan to axe bankers’ bonus cap

Chancellor Kwasi Kwarteng under fire over ‘obscene’ proposal to ditch limits on pay-outs

The Independent UK

Truss and Kwarteng in fresh push to persuade SoftBank to list Arm in UK

Cambridge-based chip designer’s owner prefers US to London but PM and chancellor aim to revive talks

The Guardian - UK

Liz Truss trying to distract from ‘rubbish’ leadership by picking on Treasury, says ex-civil service chief

Political decision making ‘very, very poor’ over past 12 years of Tory government, says Lord Turnbull

The Independent UK

GMB fans sickened as 'screaming' ex-MEP defends bankers' bonuses during Queen's mourning

Former MEP Ben Habib and Bank of Dave owner David Fishwick shouted over each other on Good Morning Britain earlier today, as the proposed plans to scrap the cap on bankers' bonuses sparked a heated debate on the ITV show

Daily Mirror

Liz Truss is turbocharging bankers’ bonuses. What a gift for Labour

Champagne will be uncorked in Canary Wharf – and along with it, a clear them-and-us narrative, says Larry Elliott, the Guardian’s economics editor

The Guardian - UK

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Daily Mirror

'By being cheerleaders for corporate greed Ms Truss and co have shown true colours'

Workers desperately need a pay rise so they can settle their bills, cover their rent and put food on the table with the nation in the grip of its worst cost of living crisis for more than 60 years

The Guardian - UK

Kwarteng plan to lift cap on bankers’ bonuses infuriates unions

Unite leader deplores prospect of post-Brexit deregulation drive ‘when millions are struggling’

The Guardian - UK

The Guardian view on bankers’ bonuses: don’t scrap the cap

Editorial: When millions are struggling with their living costs it makes no sense to widen the wealth gap rather than narrow it

The Guardian - UK

Why Kwarteng’s focus on bankers’ bonuses is a strange fight to pick

Some of the chancellor’s other proposals may represent a step back to the light-touch era that led to 2008-09 crash

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The Guardian - UK

Liz Truss to lift fracking ban ‘despite little progress on earthquake risk’

Exclusive: leaked report for government says reducing and predicting risk ‘remains a scientific challenge’

Daily Mirror

Fury over 'give bankers bigger bonuses' plan as chancellor looks to ditch fat cat cap

Plans are being drawn up to allow bankers on a salary of £1million to pocket an additional £2million in bonuses as the government looks to ditch the EU cap post-Brexit

The Guardian - UK

Raft of legislation for the chop amid focus on growth over regulation

New cabinet ministers ditch bill of rights, energy reforms, obesity strategy and cap on bankers bonuses, with more to follow

Evening Standard

What are non-fungible tokens and why is Damien Hirst burning his art?

Health secretary turned reality star creates NFT collection to help west Suffolk constituent

The Independent UK

What are the rules on bankers’ bonuses as chancellor wants to scrap cap?

Current limit means bankers can’t get a bonus of more than 200 per cent of their salary

Evening Standard

Kwasi Kwarteng considers removing cap on bankers’ bonuses

This is a government in a hurry. Boris Johnson secured an 80-seat majority but due to a combination of Covid, scandal and ideological torpor, did not get much done. Liz Truss, on the other hand, has no plans to let this majority go to waste.

Daily Record

Emergency mini-budget to be delivered next week as tax-cutting plan to be unveiled

Details of how the funding for the £2500 cap on fuel bills will be paid for should be in the statement.

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