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The Latest Breaking News from Liz Truss

Kwasi Kwarteng forced into major U-turn on 45p tax cut

From a strictly fiscal perspective, the government’s decision to U-turn on the cut to the 45p top rate of income tax is essentially meaningless. What was a £45 billion tax-cutting budget that sunk the pound, set off gilts and required an emergency intervention by the Bank of England is now…

Evening Standard

Mini-budget: lessons from the UK's long history of economic crises

It was a mini-budget with a major impact. Shortly after the UK chancellor announced his plans for a “new era” full of tax cuts, there were dramatic falls in the pound, a nervous response from mortgage lenders and an urgent intervention from the Bank of England.

The Conversation

Younger voters will never back ‘anti-EU and populist’ Tories, ex-cabinet ministers warn

Michael Heseltine says Brexit will be ’high on the agenda’ if Liz Truss loses general election

The Independent UK

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Truss picked ‘cronies off backbenches’ for cabinet, says Heseltine

Former Tory ‘big beast’ says PM needs to ‘appoint ministers who know what the heck they’re doing’

The Guardian - UK

Liz Truss hopes Paisley is "proud" of her amid 45p tax rate cut U-turn crisis

Appearing in a TV interview, the Prime Minister was asked if Buddies would be proud to be “associated with her policies".

Daily Record

Shortest serving UK prime ministers in history as Liz Truss ‘could be gone by Christmas’

Some Tory MPs say they have already submitted letters of no confidence in new PM

The Independent UK

Watch activists vandalise Scottish Tory HQ and smash office windows

SCOTTISH Tory headquarters were targeted last night by campaigners who wrote the words “blood on your hands” on the door of the office in red…

The National (Scotland)

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Levelling up agenda will not stop under Liz Truss, Michael Gove suggests

The former levelling up secretary said the UK could not afford ‘not to level up’.

The Independent UK

Douglas Ross branded 'flip flop' after Scottish Conservatives leader backs U-turn on tax cuts

Douglas Ross was left humiliated after Kwasi Kwarteng reversed a controversial plan to abolish the 45p tax rate for the richest.

Daily Record

'Liz Truss hasn't just torched her reputation - she's sabotaged her own project'

'It has taken less than 30 days for the Prime Minister to achieve the triple dishonour of being incompetent, uncaring and weak,' writes the Mirror's Jason Beattie

Daily Mirror

Let Johnson take over to foil leadership ‘conspiracy’, Tory donor tells Truss

Lord Cruddas has suggested a Conservative backbencher ‘cabal’ is working to install Rishi Sunak in No 10.

The Independent UK

$Jacob Rees-Mogg ‘delighted’ to have fracking in his own back garden$

Jacob Rees-Mogg ‘delighted’ to have fracking in his own back garden

Business secretary says he would welcome cash royalties for allowing drilling on his land

The Independent UK

Truss drops tax cut for top UK earners to fend off rebellion

Prime Minister Liz Truss dropped a plan to cut taxes for the U.K.’s highest earners just 10 days after announcing it, a humiliating reversal designed to fend off a mounting rebellion within her own Conservative Party.

Tribune News Service

Nadine Dorries suggests Liz Truss should call election as she doesn’t have mandate

The former culture secretary said there is “widespread dismay” that the sale of Channel 4 has been paused under the new Prime Minister

Evening Standard

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The Independent UK

UK at ‘significant risk’ of gas supply emergency, Ofgem warns

There is a possibility UK could enter a ‘gas supply emergency’ due to the war in Ukraine, the regulator warned

The Guardian - UK

Humiliated Liz Truss is in office but barely in power. Rebel MPs have the whip hand now

The PM and chancellor have some breathing space, but the rest of their plan will trigger more revolts, says Guardian columnist Gaby Hinsliff

Daily Mirror

Nadine Dorries says Liz Truss must call election if she scraps Boris Johnson's agenda

In an outspoken attack, staunch Johnson loyalist Nadine Dorries said there was 'widespread dismay' at the Prime Minister's approach

Wales Online

Liz Truss told to call General Election if she's making a break from policies of Boris Johnson era

Former Cabinet minister Nadine Dorries spoke of 'dismay' about Prime Minister's approach

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The Guardian - UK

What is the impact of 45p tax U-turn on markets and mortgages?

Kwasi Kwarteng and Liz Truss will be hoping move reverses some of effects of mini-budget

Daily Mirror

Millionaire Tory donor defects to Labour with blistering 'GCSE economics' attack

In a blistering attack Gareth Quarry said the government had turned the UK into a "laughing stock" and accused Liz Truss and Kwasi Kwarteng of embarking on a "maverick" journey

The Independent UK

Truss ‘should call election if she wants to break away from Johnson policies’

Nadine Dorries, who backed Liz Truss for the Conservative Party leadership, said there was ‘widespread dismay’ about the Prime Minister’s approach.

The Independent UK

Douglas Ross: U-turn on top rate of income tax ‘the right decision’

The Scottish Tory leader told party members that politicians ‘have to listen and respond and that is exactly what the Chancellor has done’.

The Guardian - UK

Toddlers, stop your running around: Liz Truss is coming for you

Downing Street has childcare in its sights – and the PM has form on this one, complaining in the past that she had seen too many ‘chaotic’ nurseries. What does she expect from two-year-olds, asks Zoe Williams

Daily Record

Liz Truss under pressure to increase benefits as Scots face 'choice between heating and eating'

The SNP has called on the Tory Government to "wake up to reality" when it comes to the number of people left struggling with the cost of living.

Daily Mirror

Solemn 'no cuts' promise Liz Truss made 3 months ago - that she's now set to break

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

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