The Latest Breaking News from Kwasi Kwarteng

Liz Truss is now desperately clinging to power as her own MPs attempt to find a replacement for the PM, who some describe has made the party a 'laughing stock'

Having seen her government’s popularity plummet just weeks after taking office, British prime minister Liz Truss has sacked her chancellor of the exchequer, Kwasi Kwarteng in a bid to save herself. Kwarteng, widely seen as Truss’s right-hand man, was rushed back to London from New York for the occasion, where…

Kwasi Kwarteng had been chancellor for just 38 days, the second-shortest time ever spent in the post, as Liz Truss replaced him with Jeremy Hunt on a day rapidly descending into farce

‘His view is that the wagons are still going to circle’

The British Conservative Party can’t figure out what it wants.

More than half applaud sacking of Kwarteng, but majority think she cannot regain trust

PM’s move to replace chancellor and commit to raising corporation tax fails to placate markets or Tory MPs

Sterling fell, FTSE 100 lost its gains and bond yields rose after PM’s press conference failed to announce new direction

Here are the main headlines on the Daily Record website today.

Expectation that new chancellor Jeremy Hunt will rewrite Kwasi Kwarteng’s mini-Budget

Editorial: Liz Truss’s project is finished and her MPs know it. The party needs new ideas and time to rebuild in opposition