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The Latest Breaking News from Kwasi Kwarteng

Who is backing who? Tories nail colours to the mast in leadership contest

Rishi Sunak, Penny Mordaunt and Liz Truss are among the candidates leading the way.

The Independent UK

Tory contenders to succeed Boris Johnson warned against ‘unfunded tax cuts’

The hopefuls to be next prime minister appeared to be in a bidding war as they tried to win the backing of Conservative MPs.

The Independent UK

Liz Truss and Rishi Sunak lock horns as Tory leadership race heats up

Tax attack on Sunak as he takes early lead in race to replace Boris Johnson

Evening Standard

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Liz Truss enters Tory leadership race with pledge to cut taxes from 'day one'

FOREIGN Secretary Liz Truss has formally launched her campaign to replace Boris Johnson, as rivals squabbled over promises of “fantasy tax cuts”.

The National (Scotland)

How to keep the lights on – UK gears up for worst-case energy scenarios

New supply chief Jonathan Mills starts drafting plans to safeguard winter supplies amid war in Ukraine

The Guardian - UK

The Northern Agenda: Why Levelling Up could disappear with Boris Johnson

What next for the Prime Minister's flagship agenda after he sacked the man responsible for it

Manchester Evening News

Decision on takeover of Newport Wafer Fab on national security grounds delayed

Business Secretary Kwasi Kwarteng has confirmed a further 45 working days to assess the acquisition of Newport Wafer Fab, which is ultimately-owned by Chinese firm Wingtech

Birmingham Post

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Price of offshore wind power falls to record low

New wind farms, set to come online in 2026 or 2027, will produce electricity for £37.35 per megawatt hour.

The Independent UK

Decision on sale of UK’s biggest chip maker to Chinese-owned firm delayed

New national security legislation used to allow more time to scrutinise £63m deal for Newport Wafer Fab

The Guardian - UK

You could get £350 cut to your energy bill if you agree to nearby wind farm

The Government is considering lowering energy bills to encourage locals to support construction of onshore wind turbines

Daily Mirror

‘It’s hot’: UK interest in solar power heats up as energy bills soar

Boom clouded by supply chain disruption, a fragmented industry as well as ethical issues

The Guardian - UK

New driving laws: Major changes to be introduced in July affecting UK drivers

From clean air zones to limiting your speed when you drive, rules changing elsewhere could have an impact on UK motorists

Chronicle Live

The signs are Britain is not heading for a property crash

It would be naive to rule out the possibility, but the evidence points to house prices dampening rather than tumbling

The Guardian - UK

UK ‘underspend’ on climate crisis to be used to bolster military aid for Ukraine

Britain has failed to deliver £250m of projects designed to help hit net zero emissions

The Independent UK

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The Guardian - UK

UK’s biggest recruiters warn ministers not to hire agency staff to replace strikers

Letter from 13 major firms to government says ‘unhelpful’ move to repeal decades-long ban will only further inflame strikes

Evening Standard

Business Secretary: Government facing mid-term blues

Business Secretary Kwasi Kwarteng said he believes the Government can recover from the double by-election defeats last week.

The Guardian - UK

UK government ‘minded to accept’ takeover of Meggitt by US buyer

Parker Hannifin expects to complete £6.3bn move for British defence manufacturer within two months

The Guardian - UK

Sunak to consider fuel duty cut amid claims petrol prices are ‘pump fiction’

Chancellor to examine further reduction as AA claims pump prices do not reflect lower wholesale costs

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Daily Mirror

Your energy bills could soar EVEN higher to cover costs of collapsed Bulb Energy

Business Secretary Kwasi Kwarteng could not say if the £1bn-a-year cost will be met by a private buyer for the firm, the Treasury - or millions of British customers' energy bills

The Guardian - UK

What exactly is the FCA investigating about Kristo Käärmann’s tax records?

And why did it take so long to act over Wise co-founder’s unpaid tax bill from 2017-18?

The Independent UK

Kwarteng to shoot down prospect of electronic strike ballots

The Business Secretary is expected to claim the method could be manipulated by ‘ill-intentioned’ states.

Birmingham Post

Ultra share price rises after Government paves way to clear £2.6bn Cobham takeover

It follows a 10-month inquiry into the proposed acquisition of the company to assess any national security concerns

The Guardian - UK

Takeover of UK defence supplier Ultra Electronics set to be approved

Sonar and radio comms maker expected to be sold to Cobham, owned by private equity firm Advent, in £2.6bn deal

The Guardian - UK

Sunak urges banks to keep funding oil and gas firms after windfall tax

Sector says £5bn energy profits levy will make investment in new projects and renewables more difficult

The National (Scotland)

Nicola Sturgeon hits out at UK's latest plan to undermine striking workers

Nicola Sturgeon has called on the UK government to “show some respect” after ministers announced they would be rushing through new legislation…

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