The Latest Breaking News from Kwasi Kwarteng

In a blistering attack Gareth Quarry said the government had turned the UK into a "laughing stock" and accused Liz Truss and Kwasi Kwarteng of embarking on a "maverick" journey

Think tank experts said the Government’s mini-budget plans will still leave the UK’s public finances on an unsustainable path.

Birmingham (United Kingdom) (AFP) - Britain's under-fire Conservative government on Monday announced a dramatic U-turn on a controversial tax cut for high-earners, part of a debt-driven economic package that has bombed with the markets, electorate and much of the ruling party.

The U-turn came, and it felt all but inevitable. This morning, Chancellor Kwasi Kwarteng announced that the proposed 45p tax cut — one of the centrepieces of his mini-Budget — was to be reversed.

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

The former Work and Pensions Secretary joined the chorus against Liz Truss warning 'it cannot be that the books are balanced on the back of benefits. That is not right at all'

It comes as the Government U-turned on plans to cut the top rate of income tax for the highest earners.

One of the axioms of communication is that nobody ever had a communication problem who didn’t have a real problem. Liz Truss and her diminishing band of supporters have been trying to argue that her political problems are really just flaws in presentation but they are kidding themselves. The mood…

Despite the screeching U-turn on income tax, the PM still needs to regain the confidence of her backbenchers

The tax cut was part of a package of unfunded cuts unveiled only days ago that sent the pound to record lows and was widely seen as politically toxic.

London (AFP) - Britain's debt-fuelled economy remains threatened by recession and the pound mired by trouble despite the government of new Prime Minister Liz Truss performing a swift tax U-turn.