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The Latest Breaking News from Mel Stride

UK finance chief rushes home to face budget storm

London (AFP) - UK finance minister Kwasi Kwarteng dashed home Friday from Washington for crisis talks with Prime Minister Liz Truss, with both their jobs on the line as their budget plans unravel.

AFP

Senior Tory warns Truss economic U-turn must be ‘significant’

Mel Stride says that markets won’t be settled if government’s policy change just ‘nibbles at the edges’

The Guardian - UK

UK's Truss sacrifices finance minister, scraps tax plan in fight to survive

British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng and scrapped parts of their unpopular economic package on Friday in a desperate bid for political survival less than 40 days into her premiership.

Reuters

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‘Let’s see’: pressure builds for No 10 U-turn on corporation tax

Reversing key plank of her leadership pitch would be much bigger humiliation for Liz Truss than 45p rate U-turn

The Guardian - UK

Rich donor grows Tory pie by paying '£25k' for Liz Truss speech at £1,500-a-head dinner

The party loyalist reportedly pledged the sum for a signed copy of the PM's much-maligned party conference in Birmingham, which saw her mocked for saying the UK needs to "grow the economic pie" and saw her interrupted by Greenpeace protesters

Daily Mirror

Liz Truss faces growing pressure to rip up tax-slashing plans

An attempt to win over mutinous MPs at a meeting of the 1922 Committee reportedly failed

Insider UK

Liz Truss leadership 'in peril' after own MPs turn on her in fiery meeting

The Prime Minister was accused of “trashing the last 10 years” of the Tories’ record at a meeting with backbenchers

Manchester Evening News

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Liz Truss in fresh peril as senior Tory MPs round on her over economy

PM accused of ‘trashing’ Conservative values and a PMQs performance that was ‘just appalling’

The Guardian - UK

Liz Truss under mounting pressure to make further tax cuts U-turn

Senior Tory suggests ‘further row back on the tax package’ needed to calm financial markets after PM rules out public spending cuts

Evening Standard

Liz Truss faces revolt as angry Tory MPs demand U-turns on tax plans

Prime minister accused of ‘trashing 10 years of conservatism’ by angry MP

The Independent UK

Top Tory warns tax cuts U-turn WILL happen as 'pyromaniac' government refuse to back down

Mel Stride, who chairs the influential Treasury Select Committee, says he is among those who expects Chancellor Kwasi Kwarteng will have to row back further when he announces full financial plans

Daily Mirror

Kwasi Kwarteng’s ‘original sin’ caused UK turmoil, says ex-Bank of England deputy

Sir Charlie Bean says Bank could extend emergency action to ease ‘pressure’ on government

The Independent UK

Jacob Rees-Mogg claims parts of economy in ‘good state’ and insists pensions safe

Cabinet minister clashes with BBC host – and reveals his own mortgage payments have gone up

The Independent UK

No UK benefits decision until end of October, says chancellor

Kwasi Kwarteng accused of compounding anxiety as he says announcement on uprating benefits will come in Halloween fiscal statement

The Guardian - UK

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The Independent UK

Bank of England forced to boost bond-buying scheme amid market turmoil

‘Material risk to UK financial stability’, warns central bank

Manchester Evening News

Chancellor bows to pressure again and brings forward his fiscal plan to Halloween

Kwasi Kwarteng will set out his economic plans on October 31 following a U-turn

Wales Online

Kwasi Kwarteng U-turns and agrees to Halloween publication of economic vision

New date of Monday, October 31 announced

The Independent UK

Kwasi Kwarteng will bring forward fiscal plan to Halloween in another U-turn

Chancellor bows to pressure after senior Tories called on him to reassure spooked markets

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The Independent UK

Truss tells Tory rebels she’s ‘ready to listen’ in row over benefits

Speculation grows PM is getting ready to give in to Cabinet pressure to increase benefits in line with inflation

The Independent UK

Tory MPs are plotting with Labour to ‘block benefits cuts’, shadow minister reveals

Jonathan Ashworth says unhappy Tories have ‘reached out’ to find way to block below-inflation rises

The Independent UK

Nadine Dorries warns fellow Tories of ‘complete wipeout’ in early general election

Former culture secretary says Boris Johnson’s return cannot be ruled out but is ‘extremely unlikely’

The Guardian - UK

Truss and Kwarteng will face fury of Tory MPs in week of crisis meetings

The PM and chancellor will try to stop panic spreading through the party after their high-risk economic plan threatens a ‘death spiral’

Wales Online

UK pension schemes were at risk of collapse in 'unprecedented' impact of budget

The Bank of England has written to the Government explaining why it intervened after market instability

The Independent UK

Fresh confusion as foreign secretary can’t say when Kwarteng fiscal plan will come

Cabinet minister can say ‘exactly’ when crucial borrowing details will be set out amid uncertainty

The Independent UK

Kwarteng U-turn on statement timing ‘could ease mortgage pain for millions’

Senior Tory says watchdog report will influence crucial rate-setting meeting

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