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The Latest Breaking News from Kwasi Kwarteng

Truss sacrifices Kwarteng to save her premiership as she ditches tax pledge

The Prime Minister has appointed Jeremy Hunt as the new Chancellor of the Exchequer.

The Independent UK

The Leader podcast: Can Hunt rebuild UK economy after Kwarteng?

Tax-cutting Kwasi Kwarteng sacked as Chancellor after 38 days

Evening Standard

Three weeks of chaos that cost more than Kwarteng’s job – in numbers

On 30 September, the then chancellor’s mini-budget triggered a chain of events that led to a dramatic downfall

The Guardian - UK

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Jeremy Hunt brought in from the cold to be UK's new finance minister

Jeremy Hunt was named Britain's new finance minister on Friday, the latest senior ministerial role for the self-proclaimed entrepreneur regarded by many in his Conservative Party as a safe pair of hands but whose days in top jobs had seemed over.

Reuters

The markets have taken back control: so much for Truss’s Brexit delusion of sovereignty

This is the biggest humiliation of Britain since Suez, a reminder that no government can ignore reality, says Guardian columnist Jonathan Freedland

The Guardian - UK

Jeremy Hunt's 'secret weapon' wife shares unusual pet name for new Chancellor

Jeremy Hunt, the new chancellor for Liz Truss, was given a pet name by his Chinese-born wife, Lucia, who said the moniker came from her grandmother when they went to China for their wedding

Daily Mirror

Rare family appearance and a TikTok glow-up — Jeremy Hunt’s first Budget

The Chancellor has already lasted longer in the job than his predecessor Kwasi Kwarteng – so does his first Budget fit the serious, “steady” reputation he’s become known for? Katie Strick reports

Evening Standard

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Mark Drakeford accuses Liz Truss of being the 'architect of her own misfortunes' and calls for stability

First Minister Mark Drakeford was reacting to the Prime Minister's latest U-turn and sacking of her chancellor

Wales Online

Welsh Conservatives leader suggests a general election should be called if Liz Truss can't 'regain confidence'

He was speaking before news broke that the Chancellor had been sacked

Wales Online

Kwasi Kwarteng out, Jeremy Hunt in, Liz Truss clings grimly on

A press conference that could have been an email. Dressed in funereal black, Liz Truss stood at the podium for roughly 494 seconds, each more excruciating than the last. She made a brief statement before taking all of four questions. What did we learn?

Evening Standard

Truss defends her low tax agenda as she makes major U-turn and sacks Chancellor

Admitting she had to change course, she reversed a key policy to scrap the planned rise in corporation tax from 19% to 25%.

The Independent UK

Liz Truss’s history of U-turns after series of reversals as prime minister - OLD

PM is no stranger to about-turns and, less than two months into her premiership, they just keep coming

The Independent UK

Pound falls after Liz Truss walks out of press conference after just 8 mins 21 secs

Markets, which had been performing well most of the day, appeared far from persuaded by the PM’s speech

Evening Standard

Liz Truss says she will NOT resign as Prime Minister as she announces U-turn following sacking of Kwasi Kwarteng

The Prime Minister announced a major new u-turn today after replacing her former Chancellor

Manchester Evening News

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The Independent UK

Mortgage lenders ‘should feel confidence to put more products on the market’

Some of the downward pressure on house prices and transactions will be tempered following the Government’s U-turn, a housing market expert suggests.

Edinburgh Live

Can the public force a UK general election as Chancellor sacked within 38 days

Former Chancellor Kwasi Kwarteng was relieved of his position today (October 14), as Prime Minister Liz Truss performed a complete U-turn on new taxes set in place.

Daily Record

Nicola Sturgeon demands Liz Truss resigns as Prime Minister to restore 'economic credibility' to the UK

The First Minister said the "only decent thing" for Tory MPs to do was force Truss out and call a general election.

Liverpool Echo

Everyone is saying the same thing after Liz Truss press conference

No one was reassured

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The Independent UK

Spending cuts of up to £40bn expected after Liz Truss announcement

U-turns have filled less than half the £62bn ‘black hole’ created by Kwasi Kwarteng

Wales Online

Liz Truss now odds-on to resign as Conservative leader this year following Chancellor sacking chaos

Rishi Sunak is the 2/1 favourite to replace her, with Penny Mordaunt next at 5/1 and Boris Johnson 12/1

The Independent UK

Nicola Sturgeon calls for PM to quit as pressure for general election grows

The First Minister said Tory MPs should back an election if Liz Truss does not resign.

Evening Standard

Liz Truss ‘hanging by a thread’ as PM, says Lord Hague, after corporation tax U-turn and axing of chancellor

Prime Minister insists she will stay on as leader as she fights for survival of premiership

Evening Standard

Truss was right to focus on growth. But her rush to get things done was short-sighted

City comment: Rather than hurrying to make announcements, the PM should have spent more time reassuring markets her policies were credible

The Guardian - UK

Liz Truss to raise corporation tax in another humiliating U-turn

PM makes second climbdown and sacks chancellor after package of unfunded tax cuts sent the pound tumbling

Daily Record

Liz Truss clings to job after announcing yet another tax U-turn following disastrous mini budget

The Prime Minister walked out of a Downing Street press conference after just 10 minutes and answering four questions.

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