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The Latest Breaking News from Kwasi Kwarteng

London politics LIVE: Treasury minister says ‘we’ll press on with tax cuts’ as Tory backlash grows amid markets turmoil

Tory MP slams ‘inept madness’ in Chancellor’s mini-Budget - but Treasury minister rejects calls for U-turn

Evening Standard

Wednesday briefing: Did Keir Starmer’s speech take advantage of perpetual Tory crisis?

In today’s newsletter: All the content of – and reaction to – Keir Starmer’s conference speech

The Guardian - UK

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

Daily Mirror

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Pound – live: Calls for Truss to ‘come out of hiding’ to fix ‘economic disaster’

Bank of England launches emergency action after pound falls

The Independent UK

Cristiano Ronaldo and Premier League stars set for extra earnings boost after tax cuts

Ronaldo is the highest-paid footballer in the Premier League and the Manchester United superstar will be happy with the decisions taken by Liz Truss and Kwasi Kwarteng last week

Daily Mirror

Stocks and oil drop as dollar gains on recession, Ukraine fears

Hong Kong (AFP) - Equities and crude prices fell while the dollar held at multi-year highs Wednesday as recession fears mount and traders grow increasingly concerned about tensions between Russia and the West.

AFP

Labour in buoyant mood as conference draws to a close

Deputy Labour leader Angela Rayner will deliver the closing speech at the gathering in Liverpool.

The Independent UK

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International Monetary Fund makes extraordinary intervention as it urges Chancellor to change course

Kwasi Kwarteng has been urged to 're-evaluate the tax measures' outlined in last week's mini-budget

Wales Online

Morning Mail: help for Optus data breach victims, pesticide regulation maze, path to republic debate

Wednesday: State governments are helping make it easier to get a new driver’s licence for those at risk of digital identity theft after Optus’s big breach. Plus: health warnings over ‘canola selfies’

The Guardian - AU

IMF urges UK government to reconsider tax-cutting plans

International Monetary Fund says measures should target households worst affected by energy crisis and inflation

The Guardian - UK

Michael Pascoe: RIP trickle-down economics – even the financial markets have given up

Trickle-down economics: The cry of “you can’t tax your way to prosperity” is joined by “you can’t tax cut your way to prosperity either”.

The New Daily

Tory MPs tell chancellor Kwarteng to act over mini-Budget ‘disaster’

IMF issues extraordinary rebuke to British government and calls for rethink on tax cuts

The Independent UK

State-backed energy and a ‘sense of hope’: Starmer sets out stall as No 10 contender

Opposition leader says Tories have ‘lost control’ and Labour is now the party of ‘sound money’

The Guardian - UK

Homeowners warned of ‘significant’ rise in UK interest rates

Bank of England’s chief economist speaks out after mini-budget, with financial markets expecting rates to reach up to 6%

The Guardian - UK

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The Guardian - UK

‘Fiscal sustainability’ plus rising borrowing costs could add up to cuts

To make the sums work, some suggest Kwasi Kwarteng may include deep spending reductions in his medium-term fiscal plan

The Guardian - UK

Keir Starmer has found his winning position – as the antidote to Liz Truss

The Labour leader looks like he’s on a path to victory, says Guardian columnist Rafael Behr

Manchester Evening News

Labour suspends MP who described chancellor Kwasi Kwarteng as 'superficially' black

MP Rupa Huq has now offered a 'wholehearted' apology for the 'ill-judged' remarks

The National (Scotland)

Douglas Ross demands 'appalling' tax cuts that'd save Tory MSPs thousands on bills

DOUGLAS Ross is facing questions over his demands for Holyrood to replicate Liz Truss's “appalling” tax cuts after estimates revealed it would…

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news in one place.

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The Guardian - UK

Keir Starmer’s conference speech: five key messages

Starmer attacked the new Truss government, set out green policies and was unafraid to address Brexit, previously a no-go area

The Independent UK

What are supply-side reforms?

Chancellor planning further regulatory changes for British industry to be announced this autumn

Reuters

UK's Labour suspends lawmaker for saying Kwarteng 'superficially' Black

An opposition Labour lawmaker was suspended from the party on Tuesday after being accused of making racist comments about British finance minister Kwasi Kwarteng, with a party spokesperson saying it would call on her to apologise.

The Independent UK

Labour MP apologises for calling Kwasi Kwarteng ‘superficially’ Black after suspension

Ed Miliband says Labour must decide on Rupa Huq’s future after ‘reprehensible and awful’ comments

Evening Standard

Who is Rupa Huq? Labour MP suspended over Kwasi Kwarteng comments

It is thought that Dr Huq made the comments at a fringe event at the Labour Party Conference in Liverpool on Monday

The Independent UK

Suspended Labour MP apologises for calling Kwasi Kwarteng ‘superficially’ black

Rupa Huq gave her ‘sincere and heartfelt’ apologies to the Chancellor over her ‘ill-judged’ remarks.

Evening Standard

Bank of England warns of ‘significant’ rate rises amid sterling turmoil

The Chancellor sought to reassure investors as the Bank of England’s chief economist said they could not ignore the fall in sterling

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