The Latest Breaking News from Kwasi Kwarteng

CAPS on bonuses for fat cat City bankers are reportedly set to be scrapped and sold to the world as a “Brexit dividend”.

Latest updates: Kwasi Kwarteng’s plan to lift cap criticised as ‘very bad timing’ during cost of living crisis

Critics question chancellor’s idea of abolishing rules imposed after 2008 financial crash during cost of living crisis

EU limit introduced in the wake of the 2008 financial crisis curbs annual pay-outs to twice a banker’s salary

Boris Johnson backed away from move, fearing political backlash – but Kwasi Kwarteng has put it back on agenda

Chancellor reportedly plans to lift the EU-imposed banker bonus cap as part of post-Brexit reforms; John Lewis says ‘uniquely uncertain’ outlook puts staff bonuses at risk

Chancellor Kwasi Kwarteng, who was one of Liz Truss's first appointments when she became Prime Minister last week, is weighing up abolishing a cap that means bosses cannot award more than double an employee's salary

Sir Tom Scholar’s dismissal marks a shift towards ministers seeking advice that aligns with their own views, Lord Kerslake said.

Editorial: The new chancellor is trying to wrongfoot Labour. That’s an easier game than living up to his pledges

Exclusive: Former head of civil service says move is ‘disgraceful’ and will have a ‘chilling effect’

The Prime Minister is set to lift the ban on fracking as soon as next week to make Britain energy independent by 2040. The 2019 Tory manifesto pledged not to do so unless it was scientifically proven to be safe amid concerns over earthquakes.