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The Latest Breaking News from George Osborne

Pressure mounts on Sunak to U-turn on climate summit snub

The Prime Minister has faced criticism from Tory MPs over his decision to shun the Cop27 conference in Egypt.

The Independent UK

Finance, property and mining: the money behind Sunak’s £460,000 leadership bid

Multimillionaire flew on private plane and received more donations than any rivals, including Liz Truss

The Guardian - UK

Tories plotting billions of spending cuts in 'return to Cameron-era austerity'

THE Tories are reportedly preparing tax hikes and public spending cuts worth up to £50 billion in what would be a return to post-financial crash…

The National (Scotland)

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PM eyes £50 billion tax hikes and spending cuts amid ‘massive fiscal black hole’

The figures won't be finalised until the latest forecasts from the Office for Budget Responsibility are received

Insider UK

Autumn Statement: £50 billion tax hikes and spending cuts considered to fill fiscal black hole

The Government is believed to be looking for financial headroom of up to £10 billion in the upcoming Autumn Statement

Birmingham Post

Rishi Sunak considers £50 billion of tax hikes and spending cuts

The Prime Minister and Chancellor Jeremy Hunt held 'sober' talks as they look to confront a gaping financial black hole

Wales Online

Austerity George Osborne visits Downing Street as Rishi Sunak prepares to slash £50BILLION

The cuts-happy former Chancellor was spotted arriving for talks at 11 Downing Street as it emerged Chancellor Jeremy Hunt now has to fill a £50bn black hole

Daily Mirror

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Jeremy Hunt talks with ex-chancellor George Osborne ahead of autumn budget

The Chancellor was consulting Tory predecessors after warning of ‘very, very difficult decisions’ on tax and spending

Evening Standard

The aides and spads expected to join Rishi Sunak in Downing Street

Many of those likely to advise the new prime minister worked at the joint No 10 and No 11 economic unit

The Guardian - UK

Rishi Sunak’s cuts will be more brutal than austerity. Remember: they are a choice, not a necessity

Can voters forgive the gutting of services already at breaking point, asks Guardian columnist Polly Toynbee

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

Liz Truss: Why declaring ‘I’m a fighter, not a quitter’ spells doom for politicians

Resort to fateful phrase rarely ends well

The Independent UK

Welcome to the doom loop of Tory Britain: an austerity that kills, a democracy routed

It was cuts that gave us Brexit and the chaos that followed, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

In Britain today it seems your suffering only counts if you have a mortgage

Despite a deepening crisis, it wasn’t until homeowners were threatened that Westminster reacted, says political economist William Davies

The Guardian - UK

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The Guardian - UK

Hunt’s expected austerity drive – where will the axe fall?

Rebellious backbenchers, underfunding and previous pledges mean there are no easy options for the new chancellor

The Guardian - UK

Who will succeed Liz Truss? It doesn’t matter: each Tory MP is as guilty as the last

The party has a knack for reinvention – we can’t let them pin it all on one unpopular leader, says Guardian columnist Owen Jones

The Guardian - UK

Who are the economic experts appointed to Jeremy Hunt’s new advisory panel?

Four advisers, including George Osborne’s ex-chief of staff, named, with chancellor seeking to repair damage from mini-budget

Evening Standard

Jeremy Hunt’s Economic Advisory Council: who are the new members?

The UK’s latest chancellor said the council would offer him advice that was independent from the Treasury and the Bank of England.

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The National (Scotland)

Kwasi Kwarteng says he's not resigning as Chancellor despite 'inevitable' U-turn reports

KWASI Kwarteng appeared not to rule out a U-turn on corporation tax amid growing pressure to abandon more elements of the mini-budget that have…

Evening Standard

Kwarteng says ‘let’s see’ on corporation tax U-turn as pressure mounts

Chancellor hints at possible change of course on mini-budget amid growing Tory calls for rethink

The Guardian - UK

Another U-turn looms – how much will it save and what else could the chancellor ditch?

Corporation tax plans likely to be latest to be dropped – bad news for Kwarteng’s credibility, but good for his balance sheet

The Independent UK

Chancellor says ‘let’s see’ on corporation tax U-turn amid growing pressure

Kwasi Kwarteng has said he is ‘totally focused’ on delivering the tax-cutting plans in the mini-budget

The Independent UK

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

‘Don’t prolong the pain’: IMF suggests government should accept swift climbdown

The Independent UK

Don’t wait for ‘inevitable’ U-turn on mini-Budget, George Osborne tells Liz Truss

Chances needed now, suggests former chancellor – as Priti Patel says ‘market forces’ could force reversal

The Guardian - UK

Austerity architect George Osborne is in no position to lecture Liz Truss

Brief letters: Economic harm | Size of a soccer pitch | Save the coronation date | Teacher exhortations | Humble pie

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