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The Latest Breaking News from Liz Truss

Pound bounces back in Asia trading after Liz Truss’s tax plan U-turn

Sterling is at its highest value against dollar since 22 September

The Independent UK

Liz Truss refuses to rule out more U-turns as rebellion over benefits cuts grows

Embattled PM refuses to confirm plan for benefits, as minister Penny Mordaunt breaks ranks

The Independent UK

The Welsh Tories who backed Liz Truss - what do they have to say now?

The leader they supported has got of to a humiliating start so far

Wales Online

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Liz Truss fights for ‘hearts and minds’ of Tory MPs as revolt deepens

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

Evening Standard

Row over Universal Credit and other DWP benefits amid fears of Liz Truss cut

Ms Truss and Kwasi Kwarteng may announce a real-terms cut in benefits

Wales Online

Tory Party conference latest LIVE: Liz Truss ally accuse fellow MPs of ‘coup’ over tax rebellion

It comes after Kwasi Kwarteng was forced into a humiliating U-turn on the 45p tax rate cut

Evening Standard

Liz Truss news – live: Braverman backs 45p tax rate cut and claims U-turn was ‘coup’

Truss faces a new battle with her MPs on welfare after 45p tax rate U-turn

The Independent UK

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Britain's weakened Truss faces fight for credibility

British Prime Minister Liz Truss had hoped her governing Conservative Party's annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility.

Reuters

Chancellor Kwasi Kwarteng makes second U-turn in two days as he promises to set out debt plan earlier than planned

Kwasi Kwarteng has made the change after markets reacted badly to his package of tax cuts

Wales Online

Tuesday briefing: The Truss thinkers that tanked the Tories

In today’s newsletter: Free market thinktanks are rejoicing at Kwasi Kwarteng’s neo-Thatcherism. But how do they operate – and what might their influence mean for Britain?

The Guardian - UK

Kwasi Kwarteng may have U-turned, but huge spending cuts are still coming

The government is clinging to £43bn of tax cuts. Public services and those on benefits will feel the pain, says former prime minister Gordon Brown

The Guardian - UK

Tories seek to shift focus from economy after U-turn humiliation

The Government are turning their attentions to immigration and supporting Ukraine

Wales Online

Douglas Ross has risen to the top of the Tory hit list

Douglas Ross has stood by and watched as the UK's economy has been sent into tailspin, and its time for him go, says Record View

Daily Record

‘Damage is done’: what the papers say after Truss and Kwarteng’s tax U-turn

The UK newspaper front pages pull no punches after PM and chancellor perform reversal over 45p tax rate for high earners

The Guardian - AU

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Daily Mirror

Tories laugh as Kwasi Kwarteng forced into humiliating U-turn - but 'damage already done'

Mr Kwarteng was forced to abandon his plan to give a massive tax cut to millionaires - but critics warned the damage has already been done after the Bank of England had to step in

Daily Mirror

Kwasi Kwarteng U-turn is too late to stop mortgages soaring, experts fear

More than 40% of mortgage products were pulled after the Chancellor’s Budget triggered a slump in the pound and fears of interest rate hikes. The average two-year fixed mortgage rate is now close to 6%

Daily Mirror

Truss caves to Mirror’s demands to mark ‘Plutonium Jubilee’ with cash for nuclear test vets

The heroes of Britain’s Cold War radiation experiments and their families welcomed the news, but said it did not go far enough to address the tests’ legacy of cancers, early death and birth defects

The Guardian - UK

Night of the hurried U-turn: how Truss and Kwarteng dumped their tax cut

Even as Liz Truss was being toasted for her tax-cutting boldness, the PM and chancellor were bowing to clamour to reverse course

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Evening Standard

Kwasi Kwarteng ‘to bring forward plan to cut debt after 45p tax U-turn’

The chancellor will accelerate the publication of his medium-term fiscal plan later this month, according to reports

The Independent UK

Tory MPs ‘openly talking’ about removing Liz Truss, says ex-No 10 chief of staff

‘Very difficult’ for PM to recover, says Nick Timothy – as Rachel Johnson predicts Truss could ‘go down with the pound’

The Guardian - UK

Tory MPs plot to avert benefit squeeze after humiliating U-turns

Kwasi Kwarteng to bring forward fiscal statement to later this month amid disquiet in party over spending cuts hitting poorest

The Guardian - UK

Kamikwasi Kwarteng delivers his excruciating career suicide note

Tactless jokes and half-arsed platitudes made up chancellor’s vapid Tory conference speech

Daily Mirror

Kwasi Kwarteng will announce his plan for cuts early in SECOND budget U-turn

Kwasi Kwarteng axed the 45p tax cut earlier today after widespread critisim in what's been a tumultuous few days for the new Chancellor and Prime Minister Liz Truss

Benzinga

UK Backpedals On Income Tax Cut For Top Earners After Rattling Markets

The iShares MSCI United Kingdom ETF (NYSE: EWU) and the SPDR S&P 500 ETF Trust (NYSE: SPY) both traded higher by more than 2% each on Monday after the U.K.

Evening Standard

Food bank near Liz Truss and Kwasi Kwarteng may struggle to survive as demand soars

Jamie Ginns, chief executive of the food bank, said it is facing “serious operational issues” this winter as the cost-of-living crisis continues to cause unprecedented levels of demand.

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