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The Latest Breaking News from OBR

Chaos in Westminster: why Liz Truss finally lost control of MPs

In a night emblematic of Liz Truss’s chaotic premiership, confusion reigned in parliament as an opposition day motion on the contentious issue of fracking became a confidence vote in her leadership. Labour MPs reported seeing Conservatives being manhandled and “bullied” into the chamber by government whips – who reportedly attempted…

The Conversation

End of triple lock is just another broken promise by PM in Name Only

Librium Liz gets through another day of humiliation for herself, her party and her country

The Guardian - UK

Mini-Budget U-turns mean interest rates may NOT rise as much as feared, say experts

The new Chancellor Jeremy Hunt this morning announced he will scrap major policies planned by his predecessor Kwasi Kwarteng, in an attempt to calm rattled markets

Daily Mirror

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Jeremy Hunt may still have to find £40bn of cuts as chancellor, say experts

Kwarteng’s replacement is warned of inflation impact, crumbling services and financial ‘black hole’ that he has two weeks to fill

The Guardian - UK

Kwasi Kwarteng says he's not resigning as Chancellor despite 'inevitable' U-turn reports

KWASI Kwarteng appeared not to rule out a U-turn on corporation tax amid growing pressure to abandon more elements of the mini-budget that have…

The National (Scotland)

Kwarteng says ‘let’s see’ on corporation tax U-turn as pressure mounts

Chancellor hints at possible change of course on mini-budget amid growing Tory calls for rethink

Evening Standard

Another U-turn looms – how much will it save and what else could the chancellor ditch?

Corporation tax plans likely to be latest to be dropped – bad news for Kwarteng’s credibility, but good for his balance sheet

The Guardian - UK

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Chancellor says ‘let’s see’ on corporation tax U-turn amid growing pressure

Kwasi Kwarteng has said he is ‘totally focused’ on delivering the tax-cutting plans in the mini-budget

The Independent UK

Don’t wait for ‘inevitable’ U-turn on mini-Budget, George Osborne tells Liz Truss

Chances needed now, suggests former chancellor – as Priti Patel says ‘market forces’ could force reversal

The Independent UK

Pressure on Truss and Kwarteng to announce more U-turns as IMF hints at need for 'recalibration of policies'

IMF leaders also had a 'constructive' meeting with Kwarteng

Wales Online

Downing Street distances itself from Jacob Rees-Mogg’s attack on Office for Budget Responsibility

Business Secretary questioned the accuracy of OBR’s forecasting claiming its record hasn’t been ‘enormously good’

Evening Standard

Ditching Truss would be ‘disastrously bad idea’, says ally Cleverly

Foreign Secretary James Cleverly said the Government is focused on getting economic growth despite the market turbulence.

The Independent UK

Slapdown for Rees-Mogg over attack on economic forecasters

Business secretary’s broadside fuelled speculation of damning OBR verdict on Kwarteng mini-Budget

The Independent UK

Jacob Rees-Mogg slapped down by No10 and top expert for attacking Tories' budget watchdog

A top economist said Jacob Rees-Mogg was half-right about the government's Budget watchdog being inaccurate... because the economy is actually WORSE than it predicted

Daily Mirror

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The Guardian - UK

Mini-budget will not lead to promised growth, leading economists tell MPs

Economic confidence in UK seriously undermined by Kwarteng and Truss’s ‘guerrilla tactics’, Commons committee hears

The Independent UK

No 10 reviews Kwarteng’s mini-Budget measures following market turmoil

Exclusive: Staffers told to undertake line-by-line scrutiny to see if changes are needed

Evening Standard

Halloween OBR data will confirm harsh reality

Government economic figures likely to be seen more as trick than treat

Evening Standard

Treasury brings forward next tax update to Halloween alongside OBR forecasts

Confirmation of the date comes as the Bank of England also seeks to reassure markets on its intervention in UK debt market

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The Guardian - UK

Kwasi Kwarteng to launch debt-cutting plan on 31 October

Chancellor will also bring forward publication of OBR forecasts after pressure from MPs

Birmingham Post

Chancellor Kwasi Kwarteng brings forward Medium-Term Fiscal Plan to Halloween

The Chancellor said the new date will allow the OBR to "capture data releases, such as the recent Quarterly National Accounts and Blue Book revisions"

The Guardian - UK

Truss must raise benefits in line with inflation, Javid says

Former Tory chancellor also calls on Kwasi Kwarteng to speed up release of OBR forecasts

The National (Scotland)

Liz Truss to abandon benefit cuts in bid to avoid Tory mutiny, reports say

PRIME Minister Liz Truss is set to abandon plans to impose real-terms benefits cuts in an attempt to stave off a Tory mutiny brewing after just…

The Guardian - UK

Truss and Kwarteng will face fury of Tory MPs in week of crisis meetings

The PM and chancellor will try to stop panic spreading through the party after their high-risk economic plan threatens a ‘death spiral’

The Guardian - UK

Who’s against Truss and Kwarteng’s growth mania? Anyone with sense

How can the government build, build, build and hit net zero? Or, come to that, keep both the Bank and the OBR on its side?

The Independent UK

First-time buyers see hopes destroyed amid rising interest rates and higher rents

The property market is set to weaken from the bottom up as people struggle to climb onto the housing ladder, economists warn

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