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The Latest Breaking News from George Osborne

This panic among the Tories is making Boris Johnson’s time look stable

U-turns are an inelegant but necessary manoeuvre on the erratic journey of politics. Tony Blair executed one on his pledge to hold a referendum on the EU constitution, deepening integration in the early 2000s, while George Osborne engaged his reverse gear as chancellor over benefit cuts to diffuse an internal…

Evening Standard

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

The Guardian - UK

Kwarteng is sticking to his guns on tax and spending cuts. But what he really needs is luck

The chancellor appears unwilling to reverse any of the measures in his mini-budget. If he is to survive, it may be down to factors beyond his control

The Guardian - UK

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Government may consider benefits cut to help fund tax breaks for rich, economists warn

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

The Independent UK

Trickle-down Truss is carrying on the dirty work of Thatcher, Blair and Osborne

Britain has endured 40 years of decline thanks to this faulty economic theory. Will Keir Starmer finally kill it off?, says Yanis Varoufakis, leader of MeRA25 in Greece’s parliament

The Guardian - UK

Keir Starmer can lock the imploding Tories out for a decade – if he gets the message right

Labour has a brief window to sear a narrative into the public’s mind, so the Conservatives are saddled with this crisis for years, says Guardian columnist Jonathan Freedland

The Guardian - UK

Don’t abandon levelling up agenda, Tory MPs warn Liz Truss

Economic crisis ‘risks further increasing North-South divide’, backbenchers say ahead of conference

The Independent UK

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Bombshell polls throw massive question mark over Liz Truss’s future as PM

Tory meltdown after ‘unforced error’ Budget gifts Keir Starmer leads of up to 33 points

The Independent UK

‘Return to austerity’: Almost £50bn of cuts needed to fund tax breaks for rich, economists warn

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

The Independent UK

Tuesday briefing: Three scenarios for the British economy after the pound slumps

In today’s newsletter: The Guardian’s special correspondent Heather Stewart talks us through the best, worst and most likely result of another chaotic day in the money markets

The Guardian - UK

Labour says Kwasi Kwarteng 'fanned flames' for pound's fall with fresh tax cut hints

The pound plunged to an all-time low against the US dollar this morning amid hammered market confidence over the Government's economic plans

Daily Mirror

Liz Truss and Kwarteng accused of ‘gambling with public’s money’ as pound plummets

Chancellor ‘fanned the flames’ for pound’s fall with hint of further unfunded tax cuts, says Labour

The Independent UK

The Tories’ huge gamble offers a fabulous opportunity Keir Starmer’s party must seize

Labour has a better plan for growth than Kwasi Kwarteng’s sugar-rush of tax cuts. Now it needs to pitch it to voters

The Guardian - UK

Starmer sets out energy plan and hits out at ’12 years of failure’ under Tories

The Labour leader said his party’s plans would see all electricity generated by renewable and nuclear power by 2030.

The Independent UK

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The Independent UK

Keir Starmer reveals plan to ‘boost jobs and slash emissions’ amid Liz Truss tax cuts

The move could create half a million jobs and make the UK the first country to have a zero-emission power system, Labour says

The Independent UK

Budget tax breaks for ‘affluent’ Tory areas will take funds from poorer places, Labour warns

Wealthier counties containing seats of Liz Truss and her deputy earmarked for ‘investment zones’

The Guardian - UK

Mini-budget benefits London and south-east England, study shows

Analysis by Resolution Foundation shows 95% of UK population will be worse off after chancellor’s actions

The Guardian - UK

When Trussonomics arrives, the big winner may well turn out to be Labour

The PM’s assault on economic orthodoxy is a leap in the dark with every prospect of backfiring spectacularly, says Guardian economics editor Larry Elliott

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The Guardian - UK

The era of low interest rates is ending – its legacy is inequality and toxic politics

Over the past 14 years, older homeowners have continued to benefit – creating an unpleasant form of economic progress, says sociologist and political economist William Davies

The Guardian - UK

Forget ‘levelling up’ – Liz Truss isn’t even pretending to care about inequality

Under Boris Johnson, the agenda failed because of incoherence and incompetence. For our new PM, the problem’s ideological, says Guardian columnist John Harris

The Guardian - UK

The heat is on after Liz Truss’s extraordinary energy bill gamble

The PM will hope for some credit for taking out the big bazooka, but there are fears it’s missing the target and may backfire

The Guardian - UK

Letters: growing up learning another language helps free the mind

Speaking both Welsh and English imbues life with a richness lost to those who know only one tongue

Daily Mirror

The Queen asked Chancellor 'tell drunk Barack Obama' to go to bed after banquet Martinis

George Osborne's story about the monarch was recalled in December last year and has re-emerged as people fondly remember the forthright Queen's amusing sense of humour.

The Guardian - UK

Now Britain is in the 100% debt-to-GDP club, what’s the spending plan?

Covid has pushed many states’ debts above annual income, but the UK has lower credibility than some with lenders

Daily Mirror

The best politician food fails: From Theresa May's chippy cone to Ed Miliband's bacon blunder

Scoffing on a snack might seem like a failsafe way to project a populist image, but politicians are often left wishing they'd never bothered after being photographed eating awkwardly

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