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The Latest Breaking News from Bank of England

Tentative business welcome for Sunak amid deepening economic gloom

UK industry leaders hope for urgent steps from new PM to repair battered business confidence

The Guardian - UK

Martin Lewis issues warning of 'mortgage ticking time bomb' for millions of households

The financial expert claims that people with mortgages face a 'triple threat' of more financial hardship

Chronicle Live

Rishi Sunak faces a very different economy to the one he left as chancellor -- here's what he must tackle as prime minister

As the incoming UK prime minister, Rishi Sunak has the immediate advantage of perceived success in his two years as chancellor.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

MPs launch inquiry into pensions crisis sparked by mini-budget

Cross-party committee to examine problems faced by funds that led to £65bn Bank of England intervention

The Guardian - UK

What Rishi Sunak could do about the cost of living, the NHS, immigration, energy and Brexit

The former chancellor has won the Tory leadership contest, just weeks after losing out to Liz Truss

Manchester Evening News

Martin Lewis warns millions of homeowners face 'mortgage ticking time bomb'

MSE boss Martin Lewis has warned that people with mortgages face a 'triple threat' of more financial hardship if experts are correct and interest rates rise above 5% next year

Daily Mirror

Factbox-What is Rishi Sunak's solution to Britain's problems?

Since entering the contest to be British prime minister, frontrunner Rishi Sunak has said little publicly about how he intends to run the country and how he would address multiple economic and political crises.

Reuters

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Rishi Sunak faces daunting in-tray as he promises to deliver

The former governor of the Bank of England Lord King has warned that Britons could face years of financial hardship

Evening Standard

We face peril because the UK economy relies on house prices. Here are three ways to fix that

Too much wealth depends on values bloated by an oversized financial sector, says Fran Boait of campaign group Positive Money

The Guardian - UK

Austerity could be more difficult this time round, says Lord King

Former Bank of England governor says politicians must be clear that taxes and mortgage rates will rise

The Guardian - UK

Former Bank of England chief warns of ‘higher taxes for the average person’

Lord King of Lothbury outlined the challenge for the next prime minister to confront high inflation.

Evening Standard

'More difficult than austerity': Former top banker warns of necessary tax rises

SIGNIFICANTLY higher taxes on the average person would be needed to finance higher public spending in the UK, according to a former Bank of England…

The National (Scotland)

The future offers only variants on austerity? Bunk. There are ways to invest and grow

Despite the UK’s new negative credit outlook, it still has vast resources if it wants to access them

The Guardian - UK

Change of prime minister is likely to delay UK’s fiscal plan

Credibility of economic event could be in doubt if it is launched on Halloween, just a few days into new leader’s tenure

The Guardian - UK

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The Independent UK

Boris Johnson return would alarm markets, former Bank of England chief warns

‘Concern’ about fresh instability predicted – as borrowing costs rise after ex-PM installed as race favourite

Irish Mirror

Why did Liz Truss resign and who will replace her as UK prime minister? Latest news

Events in the House of Commons on October 19 made it clear that the prime minister had lost control

Daily Mirror

Martin Lewis issues warning to every homeowner who wants to fix into a mortgage now

The MoneySavingExpert founder answered the ‘million dollar question’ on mortgages - revealing whether or not it's worth switching to a fixed rate mortgage in the current economic climate

Nottingham Post

ITV Martin Lewis offers advice on sticking with fixed mortgages or getting a variable one

He was answering questions from viewers

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The Independent UK

Seven weeks of chaos under Liz Truss’s government

Tory leader resigned following 45 chaotic days

Reuters

Rishi Sunak to be UK prime minister: What you need to know

Rishi Sunak will become Britain's first prime minister of colour on Tuesday after he won the race to lead the Conservative Party.

Axios

How hidden financial risks brought down Liz Truss

In jittery global markets, unseen risks can cause economic and political turmoil

Daily Record

Liz Truss: What happened on every day of Prime Minister's 44 days in charge

The Prime Minister announced her resignation on Thursday afternoon during a short statement in Downing Street.

The Guardian - UK

From fighter to quitter: timeline of Liz Truss’s U-turn littered premiership

Key moments in the 45 days between Truss becoming prime minister and announcing her departure

The Guardian - UK

Interest rates unlikely to rise above 5%, says Bank of England official

Ben Broadbent says increase already priced into markets would deliver ‘pretty material’ hit to economy

ABC News

How Liz Truss's brief and chaotic tenure as Britain's PM unravelled

Whether it was sexism that brought her down, her inexperience and overconfidence, her party's unravelling, or a combination of all three, Liz Truss plunged over the glass cliff with breathtaking speed.

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