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The Latest Breaking News from OBR

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

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

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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

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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

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 Guardian - 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

The Independent UK

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

Evening Standard

Kwasi Kwarteng to launch debt-cutting plan on 31 October

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

The Guardian - UK

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"

Birmingham Post

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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?

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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

The Guardian - UK

OBR forecasts likely to show £60bn-£70bn hole after Kwarteng’s mini-budget

Predictions handed to chancellor expected to paint gloomy picture for UK economy amid sweeping tax cuts

The Guardian - UK

Truss and Kwarteng warned not to stretch medium-term growth timeline

Concerns that fiscal plan may take longer to deliver than the traditional definition of three to five years

The Independent UK

Truss says she ‘absolutely’ trusts Kwarteng after display of public unity

Liz Truss and Kwasi Kwarteng took part in a joint visit but there were still signs of trouble in the relationship between No 10 and No 11.

The Independent UK

Kwarteng U-turn on statement timing ‘could ease mortgage pain for millions’

Senior Tory says watchdog report will influence crucial rate-setting meeting

The National (Scotland)

Andrew Bowie refuses to say if he would vote to back mini-budget measures

The Scottish Tory MP was asked twice if he would back the mini-budget measures in a parliamentary vote and refused to do so

The Independent UK

Minister claims upside from weak pound for shops serving high-spending US tourists

Exclusive: Plunging value of sterling ‘not all bad’, says member of Truss team

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