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The Latest Breaking News from Kwasi Kwarteng

Kwarteng considers removing cap on bankers’ bonuses

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

Insider UK

Chancellor wants to scrap bankers’ bonus cap to boost City of London

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

The Independent UK

Kwasi Kwarteng to lift cap on banker bonuses; John Lewis slumps to £99m loss –as it happened

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

The Guardian - UK

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Liz Truss draws up plans to SCRAP bankers' bonus cap in middle of cost of living crisis

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

Daily Mirror

Sacking of Treasury official ‘retrograde and worrying’, says ex-Whitehall chief

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

The Independent UK

The Guardian view on Kwasi Kwarteng: better at making enemies than forging policy

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

The Guardian - UK

Kwasi Kwarteng sacking Tom Scholar marks ‘shift away from impartial advice’

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

The Guardian - UK

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$Liz Truss urged to relax earthquake limits on fracking ahead of ban lift$

Liz Truss urged to relax earthquake limits on fracking ahead of ban lift

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.

Daily Mirror

Whitehall fury grows over sacking of top Treasury official

Sir Tom Scholar’s sacking shows Liz Truss wants to surround herself with ‘yes men’, says former civil service leader

The Independent UK

When is Kwasi Kwarteng's mini-Budget and what will be in it for you?

Liz Truss's Chancellor Kwasi Kwarteng will deliver a 'fiscal event' this Friday - with tax cuts, freeports on steroids and the end of a bankers' bonus cap all on the cards

Daily Mirror

No 10 bid to shorten conference recess so MPs can return to Westminster

Parliament is currently suspended while political action is paused until an unspecified date after the Queen’s funeral on Monday

The National (Scotland)

New chief secretary to Treasury faces questions over financial interests

Chris Philp, who has responsibility for spending policy in relation to housing and planning, has stake in property finance company

The Guardian - UK

Kwarteng plan to boost growth ‘could take decade to achieve target’

Expected ‘sugar rush’ of tax cuts could knock growth off track by forcing up inflation and interest rates, economists warn

The Independent UK

How is Liz Truss’s government challenging ‘Treasury orthodoxy’?

Sir Tom Scholar’s removal as Treasury’s top mandarin signals attempt to change department’s view of the world

The Guardian - UK

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news in one place.

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Daily Mirror

Mini-Budget held next week - but Parliament will only sit for a few days in three months

Despite a mini-Budget next week, the Commons could sit for just five 'normal' days between July 22 and October 17 - as skyrocketing inflation hits and key questions on energy bills lie unanswered

The Guardian - UK

Focus on growth not fiscal discipline, Kwasi Kwarteng tells Treasury

Chancellor suggests change of emphasis is needed after he sacked top civil servant whom he credited for tight control of spending

The Guardian - UK

Kwarteng ‘tells Treasury to focus entirely on growth’ as Tory peer defends sacking of senior civil servant – as it happened

The new chancellor is reported to have told Treasury staff there was a need to ‘do things differently under fresh leadership’

The Independent UK

New chancellor tells Treasury to aim for growth not seen since 2008 crash

Kwasi Kwarteng demands annual 2.5 per cent rise, after Liz Truss blamed Treasury ‘orthodoxy’ for UK’s feeble economic record

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Birmingham Post

'Fiscal event' emergency statement could happen next week as Liz Truss and Kwasi Kwarteng address cost of living crisis

The Guardian - UK

Sacking Tom Scholar risks politicising civil service, says Lord Butler

Former cabinet secretary says move by Liz Truss on her first day in office was ‘very unusual and very regrettable’

The Guardian - UK

Putin is waging an economic war with Europe. Britain’s absurd energy plan plays into his hands

The Tories’ ideology of daffy libertarianism seeks to triumph over evidence and reason

The Guardian - UK

Fears of parliamentary ‘paralysis’ as Queen’s funeral leaves parties in limbo

Mourning has halted debate just when the opposition wanted to put pressure on new PM – but Labour conference will go ahead

The Guardian - UK

The Commons was filled with fury – then came news about the Queen

In her first days as premier, Liz Truss was announcing plans for unprecedented spending when politics came to a halt

The Independent UK

Mourning period throws Liz Truss plans to ‘hit ground running’ into disarray

Government business suspended for 10-day period, and major events at risk

Daily Mirror

All your energy bill questions answered as Liz Truss confirms new £2,500 freeze

Liz Truss yesterday pledged households will “now pay up to an average £2,500 a year on their energy bill for the next two years” as part of new cost of living help - but what does this mean for your bills?

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