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The Latest Breaking News from Kwasi Kwarteng

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

Wales Online

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 Guardian - 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

The Independent UK

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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 Guardian - UK

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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 National (Scotland)

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 Conversation

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

The Guardian - UK

Where is Liz Truss? PM 'missing' as UK descends into chaos after disastrous mini-budget

Liz Truss, who has not spoken in public for a week, is finally breaking cover on Friday morning after the Tories' disastrous mini-budget announcement spooked markets

Daily Mirror

What would happen if the IMF bailed out Britain?

Fund issues rare rebuke to UK warning against pursuing Kwasi Kwarteng’s tax-slashing agenda

The Independent UK

Government denies responsibility for market turmoil as pound slumps

Mini-Budget labelled ‘reckless and ideological disaster’ by some Conservatives

The Independent UK

Newcastle Building Society pulls all its mortgage deals after UK economy plunged into turmoil

Mortgage deals have been withdrawn at a record rate, while a North East business chief has warned it is 'increasingly difficult' for financial markets to regain trust in the UK economy

Chronicle Live

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The Independent UK

Economic storm tests UK's new leader, alarms Conservatives

Britain’s new Prime Minister Liz Truss is under pressure to reverse announced tax cuts that have triggered a financial crisis in an already struggling economy

Wales Online

Divisions emerge in Tory party amid market chaos after 'inept' mini-budget

'There's a lot of concern within the parliamentary party, there's no doubt about that'

Daily Mirror

Pension funds faced 'mass collapse' within hours if Bank of England hadn't stepped in

Pensions held with investment companies faced turmoil today as the Bank of England was forced to step in to prevent black holes in the accounts of many retirement savings firms

The Independent UK

Don’t make NHS and public services pay the bill for tax cuts, Kwarteng told

‘Act of national vandalism’: Fears of five-year austerity spending freeze to reassure markets

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Radio France Internationale

Britain returns to its unusual business after Queen Elizabeth's death

"Look at all them people who want to go in there," said a boy as he passed by the iron railings bordering a well-kempt bright green lawn in Parliament Square.

The Conversation

Only a U-turn by the government or the Bank of England will calm UK financial markets

The Bank of England has promised to take action to calm the financial market mayhem that has followed the announcement of major tax cuts by the UK government.

Wales Online

Nine big changes to your finances coming in October

From tax to energy prices and cost of living payments, here's everything you need to know about the month ahead

Daily Record

Finance crisis - UK pension funds were on verge of being wiped out today by Kwasi Kwarteng budget

Reports have emerged that the Bank of England emergency intervention in the money markets was sparked by fears there would be an unprecedented run that would have left pension funds insolvent.

Evening Standard

Keir Starmer calls for emergency Parliament recoil amid turmoil in UK financial markets

‘What the Government needs to do now is recall Parliament and abandon this budget’

The National (Scotland)

Is the UK economy already in recession?

THE Bank of England has been forced to step in following the collapse in the value of the pound after Chancellor Kwasi Kwarteng’s “mini…

Evening Standard

Liz Truss’s plans branded ‘inept madness’ amid Tory concerns over market chaos

Divisions are emerging in the Conservatives, after the Chancellor’s mini-budget prompted turmoil in the markets and talk of a financial crisis

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