The papers on Thursday say Liz Truss has been told by her most senior advisers to rip up last month’s mini-budget and raise corporation tax, and that there is a “coronation row” looming over the controversial Koh-i-Noor diamond.
Conservative MPs are warning the Prime Minister it is “no longer credible” to press ahead with big tax cuts without risking a financial crisis that would further drive up the cost of Government borrowing and mortgages, The Independent, The Times, the Financial Times and The Guardian all report.
“U-turn or you go”, the Daily Mirror declares, while the i adds the Tories are in “open revolt” against their PM.
Metro covers the Tory turmoil as “Blue Wall Falls”, writing that “even Tory heartlands (are) now turning to Labour after the bungled mini-budget.”
Elsewhere, the Daily Express says the Tories have turned on the Bank of England governor for his “stupid” comments, accusing him of being the cause of the pound’s dramatic plunge.
The Daily Telegraph and the Daily Mail meanwhile report that Buckingham Palace is reconsidering plans for the Queen Consort to be crowned using the controversial Koh-i-Noor diamond, with India’s ruling party warning that the move would bring back “painful memories of the colonial past”.
Strictly star Helen Skelton’s ex-husband is expecting a baby with his new girlfriend months after ending the marriage, The Sun says.
And the Daily Star carries a report that the cost-of-living crisis is forcing separated couples to keep living together.
