Government borrowing soars to record £11.8bn ahead of emergency mini-budget

The Work and Pensions Committee has pressed Chancellor Kwasi Kwarteng to honour the commitment made by the former Chancellor, Rishi Sunak, to uprate benefits in April 2023 in line with the September 2022 Consumer Price Index (CPI) rate.

Martin Lewis has set the record straight after the government released some 'irresponsible' advice for first-time buyers. The Money Saving Expert founder was back at the helm of Good Morning Britain alongside Susanna Reid on Monday (September 3) to offer his expert advice in a special cost of living episode.

Liz Truss has admitted she could have done a "better job" over her tax-slashing mini budget that plunged the UK economy into turmoil.

Prime Minister Liz Truss admitted that it will be a “difficult winter” for the UK hours before the new energy price cap came into force from today (Saturday, October 1). But she defended the mini-budget revealed earlier this week despite the “disruption” the plans caused.

The Scottish Government has asked for an urgent meeting with the Chancellor to discuss "reversing the damaging effects of the UK Government's tax proposals".

The independent fiscal watchdog will deliver a forecast to the Chancellor next week as the fall-out from the mini-budget continues.

A Tory minister has been mocked after he refused to accept that Liz Truss and Kwasi Kwarteng were "peddling fantasy economics" during the mini budget.

Hundreds of mortgage deals have vanished from the market in recent days amid wider economic turmoil.

First-time buyers are amongst those struggling to afford their own home amidst the cost of living crisis. According to Rightmove, the average monthly mortgage payment for new first-time buyers who are putting down a 10 per cent deposit has now reached £1,057.

The British pound fell to an all-time low against the dollar as markets reacted to the UK’s biggest tax cuts in 50 years.

The pound has hit an all-time low against the dollar while Chancellor Kwasi Kwarteng has defended his tax cuts, which benefit high earners most. Sterling slumped last Friday (September 23) moments after the new Chancellor revealed his 'mini-budget' in the House of Commons.

A National Trust boss has hit out at the Government’s latest plans that are going ‘in the opposite direction’ to supporting the environment. The organisation believes that the recent Investment Zones announcement made by new Chancellor Kwasi Kwarteng on Friday could lead to harm for green spaces.

Sir Keir Starmer has accused the Government of 'gambling with people's finances and mortgages' with its 'casino economics'. Speaking before his party's annual conference in Liverpool the Labour leader said Prime Minister Liz Truss and Chancellor Kwasi Kwarteng had shown their 'true colours' with their raft of tax cuts that mainly benefit the wealthy.

the Energy Bill Relief Scheme “will reduce wholesale gas and electricity prices”. “This will provide a price guarantee equivalent to the one provided for households,” Kwarteng said.As announced earlier this week, the scheme will offer discounts for all firms for a six-month period from October 1.

Labour leaders in Greater Manchester have been reacting with anger to the mini-budget announced by the government this morning. Kwasi Kwarteng lifted the cap on bankers bonuses and scrapped the highest tax rate for those earning £150k a year, as well as a raft of other tax cuts, in a controversial budget today.

The government has outlined its mini-budget and, despite what its name suggests, the announcement was far from small and featured lots of changes that will affect people up and down the country. In particular, one big shake-up is coming to those on Universal Credit, with Chancellor Kwasi Kwarteng revealing that more than 100,000 people on benefits are likely to be affected by the change.

The UK Government has a new prime minister in Liz Truss and a new Chancellor in Kwasi Kwarteng.