The Latest Breaking News from Kwasi Kwarteng

The former Home Secretary is expected to tell a conference meeting later that the Tories will "live or die" by its economic credibility - after nearly two weeks of chaos following the mini-budget and a screeching U-turn on tax cuts for the rich

When Chancellor Kwasi Kwarteng announced that he would not be going ahead with his plan to scrap the top rate of tax in the UK, he claimed that he had done so because “he listened” to the public. There had indeed been a widespread outcry over his plan, set out…

Senior former Welsh Tory minister Stephen Crabb says the U-turns so far have not been enough to pacify anger on Conservative benches

The Prime Minister is reportedly considering raising benefits in line with earnings rather than inflation - and telling claimants it is unfair to receive a higher raise than workers.

Mel Stride, chair of Treasury committee, says move could also mean smaller interest rate rises

British Prime Minister Liz Truss triggered a new row in her party on Tuesday by suggesting she could limit increases in benefit payments to less than soaring inflation as she seeks ways to fund her tax-cutting growth plan.

Kwasi Kwarteng has sought to shrug off the chaos that triggered his astonishing U-turn on income tax cuts for the highest earners as a “little turbulence” as he battled to regain authority. The Chancellor remarked it had been a “tough” day as he told Conservative members in his set-piece conference…

Sterling is at its highest value against dollar since 22 September

String of Tory MPs line up to raise fears on benefits cuts