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The Latest Breaking News from Liz Truss

Pound falls after Liz Truss U-turn, as IFS warns ‘piecemeal’ changes won’t cut it

Sterling dips and cost of government borrowing rises despite PM’s bid to reassure markets

The Independent UK

Truss premiership ‘hanging by thread’ after Kwarteng sacking and latest U-turn

PM’s move to replace chancellor and commit to raising corporation tax fails to placate markets or Tory MPs

The Guardian - UK

Liz Truss fails to calm markets despite sacking Kwasi Kwarteng

Sterling fell, FTSE 100 lost its gains and bond yields rose after PM’s press conference failed to announce new direction

The Guardian - UK

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Friday Headlines: Robbie Coltrane dead aged 72 and Kwasi Kwarteng sacked as chancellor

Here are the main headlines on the Daily Record website today.

Daily Record

Voters back benefits hike as Liz Truss under pressure to abandon plans for cut

Prime Minister Liz Truss is threatening to snatch hundreds of pounds from working families by ditching the commitment made by Boris Johnson earlier this year

Daily Mirror

Truss could be gone ‘within days or weeks’, say Tory MPs after PM ditches chancellor

Expectation that new chancellor Jeremy Hunt will rewrite Kwasi Kwarteng’s mini-Budget

The Independent UK

Tom Watson and Arlene Foster among new peers with seat in House of Lords - see full list

In a list released on a day of chaos for the government, TUC General-Secretary Frances O'Grady and retired Tory MP Nicholas Soames, grandson of Winston Churchill, were appointed to the House of Lords

Daily Mirror

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The Guardian view on the Conservative party: better off out

Editorial: Liz Truss’s project is finished and her MPs know it. The party needs new ideas and time to rebuild in opposition

The Guardian - UK

Demonstrators block Downing Street gates in protest at PM’s climate approach

Crowds of Extinction Rebellion protesters arrived in Whitehall on Friday, waving flags, setting off flares, chanting and banging drums.

The Independent UK

Factbox-How could British PM Truss be removed, and how would she be replaced?

British Prime Minister Liz Truss is clinging on to her job after a political crisis and market turmoil sparked by her fiscal plans that has seen her fire her finance minister and reverse major parts of her flagship tax-cutting agenda.

Reuters

Pound falls further and bonds under pressure despite Government tax U-turn

THE value of the pound has dropped further despite Liz Truss's U-turn on large parts of former chancellor Kwasi Kwarteng's mini-budget.

The National (Scotland)

Kamikwasi takes Librium Liz’s offer to consciously uncouple from train wreck

Decision to sack chancellor for bonkers mini-budget to restore her credibility was futile. PM and Tories are a laughing stock

The Guardian - UK

'After the sacking of Kwarteng, sorry seems to be the hardest word for cowardly Truss'

Labour MP for the Rhondda Chris Bryant says that Liz Truss has lost the confidence of both the British people and her own party and she stumbles from one disaster to another

Daily Mirror

Ed Miliband mocks David Cameron’s 2015 ‘chaos’ tweet after Liz Truss U-turn

The former Labour leader’s response to David Cameron’s tweet has quickly accrued tens of thousands of likes after a tumultuous day for the Tories.

The Independent UK

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Daily Mirror

Can Liz Truss survive? Tory dismay after day of chaos and press conference horror show

The crisis-hit Prime Minister is battling to regain control but mutinous Tories are openly plotting to oust their second leader in a matter of months

Reuters

Fighting for survival as UK PM, a chastened Truss changes course again

It was a bruising meeting with her Conservative lawmakers this week that finally shook British Prime Minister Liz Truss's earlier unwavering faith that she could weather the market fallout from her radical economic growth plan.

Chronicle Live

'Rearranging chairs on a sinking ship' - North East MPs call on Truss to go after Kwarteng sacked as Chancellor

The Prime Minister insisted she would not resign after removing her Chancellor on Friday

The Independent UK

Top Tory donor handed peerage – but former Daily Mail boss Paul Dacre misses out

Former Labour MP Tom Watson and ex-DUP leader Arlene Foster on list to enter Lords

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The Guardian - UK

From nukes to corporation tax: Liz Truss’s history of flip-flopping

After PM’s latest U-turn, we look at other reversals since her days as a Lib Dem activist

The Guardian - UK

Keir Starmer: UK needs election now whether Liz Truss stays or goes

Labour leader says government is ‘completely at end of the road’ and his party is preparing for power

The Guardian - UK

How ‘knives of the long night’ led to brutally swift Kwarteng sacking

The chancellor was dispatched soon after touching down, but Tory colleagues were not convinced that was enough to save the PM

The Conversation

Liz Truss is now a case study in poor leadership

Leaders are watched. They are scrutinised. If you don’t like the idea of being held accountable and having to answer for your actions then a leadership role is probably not for you.

The Independent UK

Odds for Liz Truss to leave No 10 before the end of the year slashed

The future of Ms Truss’s leadership appears precarious - and the bookies agree

Tribune News Service

Truss dumps UK corporation tax freeze plan after firing ally

Liz Truss scrapped her plan to freeze corporation tax next year in another dramatic U-turn, hours after she fired her ally Kwasi Kwarteng and replaced him with Jeremy Hunt as UK Chancellor of the Exchequer.

The Independent UK

Nicola Sturgeon: It’s time for Liz Truss to go as Prime Minister

Ms Truss sacked chancellor Kwasi Kwarteng and reversed plans for a cut to corporation tax on Friday.

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