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The Latest Breaking News from Kwasi Kwarteng

The Guardian view on Trussonomics: bringing on social and financial devastation

Editorial: The government and its central bank are plotting a path that will create a painful recession. Both ought to change course

The Guardian - UK

The Leader podcast: How ‘at risk’ is my money?

New Bank of England emergency bond-buying intervention in mini-Budget fallout

Evening Standard

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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Pressure mounts on Truss and Kwarteng over economic plans

Senior Tories warned the Chancellor of further turmoil if he does not get the support of MPs for his fiscal measures.

The Independent UK

Government brings forward major Halloween Universal Credit statement

Kwasi Kwarteng has buckled under pressure to bring forward plans that may affect millions of Brits

Manchester Evening News

Plans for possible benefit cut for 5.6million Universal Credit claimants to be unveiled on Halloween

The Autumn Statement has been moved forward several weeks in order to calm spooked financial markets

Wales Online

Downing Street defends mini-budget AGAIN despite second IMF intervention

KWASI Kwarteng has once again defended his mini-budget after the International Monetary Fund criticised the UK Government’s tax-cutting plans.

The National (Scotland)

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Kwasi Kwarteng’s tax cuts will benefit richest amid dividend boom – report

Since pandemic shareholders have enjoyed large payouts at time of meagre workers’ pay growth, thinktanks find

The Guardian - UK

Halloween D-Day announced for 5.6million Universal Credit claimants facing benefit cut

Chancellor Kwasi Kwarteng told MPs that he would announced whether the Government would increase benefit payouts in line with rising prices or earnings in April as part of his financial statement on October 31

Daily Mirror

Bank of England intervenes again, warning of “material risk to UK financial stability”

Duncan Weldon’s excellent book, Two Hundred Years of Muddling Through, an economic history of Britain from the Industrial Revolution up to the pandemic, almost had a different title: “I wouldn’t start from here”, based on the old joke about the tourist asking for directions.

Evening Standard

No return to austerity under Liz Truss despite budget shortfalls, says Downing Street

The Prime Minister also remained ‘committed’ to the growth measures set out in the Chancellor’s mini-budget, her official spokesman said

Evening Standard

Long-awaiting new leisure centre shelved due to budget cuts and spiralling inflation

The £20m building has been put on the back burner as the council faces a £16m budget shortfall

Manchester Evening News

Bank of England expands push to stabilize financial markets

The Bank of England has expanded its emergency effort to stabilize the financial markets amid concerns the government’s plan to slash taxes pose a “material risk” to Britain's fiscal stability

The Independent UK

No return to austerity under Liz Truss, says Downing Street

The Prime Minister also remained ‘committed’ to the growth measures set out in the Chancellor’s mini-budget, her official spokesman said.

The Independent UK

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The Guardian - UK

IMF criticises Kwarteng again over tax cuts and energy package

Fund says chancellor’s measures have made Bank of England’s battle against inflation more difficult

The Independent UK

Liz Truss deserves ‘benefit of the doubt’ after sparking market turmoil, JP Morgan chief says

Jamie Dimon says he would ‘like to see the new PM be successful’

The Guardian - UK

First Thing: backlash against Saudi Arabia grows in Congress over oil cut

An influential Democratic senator has threatened to freeze weapons sales to the kingdom. Plus, Ukraine demands more western missiles

Evening Standard

V&A looks to return Asante treasures to Ghana, putting it at odds with the PM

V&A DIRECTOR Tristram Hunt has put himself at odds with the Government by signalling the museum will give back looted Asante gold treasures to Ghana.

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The Independent UK

Liz Truss news – live: Kwarteng ‘in denial’ as BoE steps in to calm markets

Labour urges chancellor to ‘end this trickle down nonsense’

Evening Standard

Britain is now facing spending cuts for which we are utterly unprepared

In politics, character is electoral destiny: which is to say, the voters have to know what they’re getting. Ever since she announced her bid to succeed Boris Johnson, Liz Truss has presented herself as the heir to Margaret Thatcher; a politician who scorned backsliding, deplored the “drift and delay” of…

Wales Online

Government needs £60bn public spending cuts to tax giveaway

Institute for Fiscal Studies says it is not possible to deliver cuts on that scale through efficiency savings

The Independent UK

Kwasi Kwarteng held undisclosed meetings with Saudi oil firms

Green MP Caroline Lucas urges chancellor to ‘come clean about dealings with Saudi oil giants’

Daily Record

Liz Truss 'must find' £60 billion of cuts as Scots warned of 'threat' to homes and pensions

A leading think-tank has predicted the UK Government will have to slash spending to fix the fiscal mess caused by Liz Truss and Kwasi Kwarteng.

The National (Scotland)

Documents reveal Kwasi Kwarteng's undisclosed meetings with Saudi Arabian oil firms

CHANCELLOR Kwasi Kwarteng held undisclosed meetings with senior executives of Saudi Arabian firms when he was business secretary, according to…

The Guardian - UK

Thérèse Coffey says nurses won’t get higher pay offer as strike vote looms

Health secretary says there is limited scope for negotiation on 3% offer and she is ‘not anticipating further changes’

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