The Latest Breaking News from Jeremy Hunt

Britain's new finance chief Jeremy Hunt on Monday axed debt-fuelled tax cuts to further calm market turmoil, in another major government U-turn that appears to leave Liz Truss's position as prime minister in a precarious state.

The cap on bankers' bonuses will still be scrapped - one of the few changes to survive from the mini-Budget - at the same time as energy bills help is scaled back

As British Prime Minister Liz Truss struggles to retain her authority, one man is seen to be in the real position of power to restore order and credibility to the Conservative government and limit the damage caused by Truss’ economic plans

Changes to income tax, energy bill support and alcohol prices will affect millions of households

Brits will be left paying more Income Tax and alcohol duty, but less in National Insurance, under a massive shake-up unveiled today by new Chancellor Jeremy Hunt

The First Minister said she was hoping for a general election "very soon" and described Truss's government as a "rotten shower".

By tradition, the Commons does not sit before 2.30pm on a Monday, as MPs journey from their constituencies to Westminster. Jeremy Hunt did not have that kind of time.

"No government can control markets, but every government can give certainty about the sustainability of public finances."

Chancellor Jeremy Hunt delivered an emergency statement on the mini-budget in an effort to reassure financial markets. He previously publicly disagreed with Stephen Hawking, reportedly used to carry a karaoke machine in his car and faced a slew of questions about a government bathroom

Chancellor Jeremy Hunt announced that help with energy bills for all households could only last until April

The new Chancellor confirmed that he would axe all but two key measures from Liz Truss's mini-Budget just over three weeks ago