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The Latest Breaking News from Kwasi Kwarteng

Thursday briefing: Tehran faces a season of dissent - and the Bank of England acts in the UK

In today’s newsletter: Extraordinary protests have lit up Iran after a Kurdish woman died in police custody. Chowra Makaremi walks us through what it all means – and if this could be how the country’s theocracy ends

The Guardian - UK

Challenging 'orthodoxy,' Kwarteng clings on after UK market rout

As new British finance minister, Kwasi Kwarteng hoped to take down finance ministry groupthink that he and new Prime Minister Liz Truss saw as holding Britain back.

Reuters

Who can argue now that Keir Starmer’s approach is not working?

The Labour leader has responded to Kwarteng’s gift with a textbook illustration of why thought and judgment count, says Guardian columnist Martin Kettle

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Mini-budget to pile on debt interest, warns Tony Blair Institute

Kwasi Kwarteng’s growth plan included £45bn of tax cuts

Wales Online

Truss and Kwarteng take just five days to show Tories can't be trusted with our money

Record View says the Chancellor should be sacked immediately if the economy is to survive another pummelling after he gambled with all our futures.

Daily Record

Ray Dalio Says UK Operating 'Like An Emerging Country,' Spending Plan 'Suggests Incompetence'

The rout in the financial market resulting from the U.K. government’s spending plan “suggests incompetence,” billionaire investor and founder of Bridgewater Associates, Ray Dalio, said in a series of tweets.

Benzinga

Adults intervene to save the UK economy as Tories play ideological games

Only a major intervention by the Bank of England prevented the UK financial system from collapsing yesterday, as the Truss government inflicts mayhem on the UK.

Crikey

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The best and most delusional coverage of Britain’s near economic collapse

With Britain’s economy teetering off a cliff, some UK media are still defending PM Liz Truss with a bizarre passion.

Crikey

London renters in leakiest homes face £1,000 premium on energy bills

Exclusive: Sadiq Khan demands rent freeze, as new research shows tenants in most poorly-insulated homes will pay extra £947 a year

The Independent UK

Inevitable Conservatives will lose next election, says former Tory MSP

Adam Tomkins who was a Tory MSP between 2016 and 2021 said it was time for the party to be in opposition after this week’s economic turmoil.

The Independent UK

Welsh Secretary urges 'calm' in face of turmoil sparked by mini-budget

Robert Buckland stood by Chancellor Kwasi Kwarteng’s plans during an interview with ITV Wales

Wales Online

Cabinet minister urges people to remain ‘calm’ amid mini-budget turmoil

Welsh Secretary Robert Buckland has stood by the Chancellor’s economic plans, saying it is time to be ‘bold’.

The Independent UK

Treasury minister says ‘we’ll press ahead with tax cuts’ as Tory backlash grows amid market turmoil

Cabinet ministers ‘to be told to make efficiency savings’ amid growing Tory backlash over mini-Budget chaos

Evening Standard

Bank of England in £65bn scramble to avert financial crisis

Bank of England left with no action but to intervene after Kwasi Kwarteng’s mini-budget

The Guardian - UK

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Evening Standard

‘That is what we do’: Trader claims he shorted the pound after mini-budget

Kieran told LBC bankers were ‘rubbing their hands’ when Kwasi Kwarteng unveiled the mini-budget

Wales Online

Government departments 'will be asked to make spending cuts to balance budget'

It comes after the markets went into turmoil following the Chancellor's £45 billion package of tax cuts

The Guardian - UK

Kwarteng’s fiscal pyrotechnics caused this mess – now we need some U-turns

Chancellor pitched mini-budget as way to avoid deep recession, but market’s reaction has created risk of a deeper one

The Independent UK

Calls for Truss to ‘come out of hiding’ as Bank fights turmoil caused by mini-Budget

‘Inept madness’: Tory MPs fear chancellor’s ‘growth plan’ may cost them next election

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The Guardian - UK

The Guardian view on the financial crisis: a meltdown made in Downing Street

Editorial: Liz Truss’s first big policy has been shot down by financial markets – and her economic credibility shredded

The Guardian - UK

Labour membership rises as party ends conference buoyed by polls

Angela Rayner invites activists to imagine meeting under a Labour government, and insiders say gathering was big financial success

The Guardian - UK

Tory MPs tell Truss: sack Kwarteng or face mutiny

MPs express disbelief over sterling slump as privately some fear PM’s government is ‘dead on arrival’

The Guardian - UK

This is Truss and Kwarteng’s crisis, not yours – but you’re already a lot poorer because of them

In 25 years of reporting, I have never seen a financial crisis so utterly avoidable, and dragging so much human misery in tow, says Guardian columnist Aditya Chakrabortty

The National (Scotland)

Liz Truss 'may have aimed for economic crisis to prepare NHS for privatisation'

IT is “entirely plausible” that Liz Truss’s Tory government intended to create a financial crisis in order to prepare public services such as…

The Conversation

Universal credit changes: increasing pressure on part-time workers is the wrong move at the worst time

Chancellor Kwasi Kwarteng has laid out the government’s “mini budget”, a package of tax cuts that will mostly benefit the wealthiest in Britain. But people on the other end of the income scale are facing changes too.

The Guardian - UK

Top UK earners: share your views on scrapping the 45p income tax rate

We’d like to hear from people in the UK who earn more than £150,000 about their views on the chancellor’s announcement

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Nazanin Zaghari-Ratcliffe

From analysis to the latest developments in health,
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