Liz Truss looks like she is a leader ‘totally out of her depth’, according to voters in Manchester, with the vast majority calling for a general election.
14.10.2022 - 09:49 / manchestereveningnews.co.uk
Kwasi Kwarteng has cut his trip to the US short to fly home for 'crunch talks' with Liz Truss amid the expectation of another major mini-budget U-turn.
The Chancellor was due to attend a final day of meetings at the international Monetary Fund’s (IMF) annual meeting in Washington today. But he told journalists on Thursday evening that he would fly back overnight, according to reports.
It comes as the Prime Minister is expected to be forced to scrap parts of her Chancellor's mini-budget in the days to come, amid growing pressure to reassure markets and rescue her administration. Reports suggest a U-turn will be made on the government's plan to scrap a rise in corporation tax, one of the landmark promises made by Ms Truss in her pitch to become Tory leader.
READ MORE: Liz Truss leadership 'in peril' after own MPs turn on her in fiery meeting
Downing Street on Thursday did not deny that the potential exists for a reversal on the policy. Speculation was fuelled further when the Chancellor, in an interview with the Telegraph, only said 'let’s see' when asked about the expectation from financial markets that the government could ditch its corporation tax promise.
Friday is set to be a crunch day in the financial markets, with the Bank of England’s emergency bond-buying scheme due to come to an end. Officials stepped in two weeks ago after the mini-budget sent markets into chaos amid concerns over higher borrowing costs, triggering concerns in particular about the fate of pension funds.
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A growing expectation on Thursday of a government U-turn on corporation tax appeared to reassure the finance industry, after Bank of England Governor Andrew Bailey spooked the markets by
Liz Truss looks like she is a leader ‘totally out of her depth’, according to voters in Manchester, with the vast majority calling for a general election.
New Chancellor Jeremy Hunt delivered an economic statement today to try and stabilise the markets.
U.K. Prime Minister Liz Truss' push to cut taxes for her country's highest earners was a "mistake," President Biden stated Saturday. Truss was forced to scrap large portions of her tax plan last week amid market turmoil and disintegrating public confidence.
Joe Biden has taken aim at Liz Truss's mini-budget that led to chaos on the markets and to her sacking Kwasi Kwarteng as Chancellor.
A day after President Joe Biden drew criticism from conservatives on social media for giving unsolicited dating advice to a young teen girl in California, the president is again in hot water for claiming the "economy is strong as hell." The comment came during a conversation with a reporter at a Baskin Robbins in Portland, Oregon, who asked the president if he had any worry about the strength of the U.S. dollar amid rising inflation. With a chocolate chip ice cream cone in his hand, Biden answered: "I’m not concerned about the strength of the dollar.
The Governor of the Bank of England has warned that interest rates may have to be raised even higher than initially expected to tackle inflation. Andrew Bailey said Bank officials will “not hesitate” to raise interest rates if necessary, while warning that a “stronger” response than previously anticipated could be required.
Good evening and welcome to Friday's Daily Record headline briefing. The rundown keeps you up to date with the latest news from Scotland and beyond.
K.J. Yossman U.K. Prime Minister Liz Truss has sacked Kwasi Kwarteng as Chancellor of the Exchequer – the government’s top financial post – after just five weeks into office. The move comes as the U.K. continues to deal with the fall-out of Kwarteng’s mini-budget, which Truss endorsed and triggered financial turmoil, including a steep rise in interest rates. The country as already been dealing with sky-rocketing energy costs as well as a cost of living crisis, which is affecting both individuals and businesses. Kwarteng was in the U.S. for business when he was called back urgently on Friday (Oct. 14) to hear he’d been sacked. At time of writing, Truss had not yet announced his replacement.
As Prime Minister Liz Truss prepares to hold crisis talks over her controversial mini-budget, the future of the current government has become more uncertain.
Kwasi Kwarteng has paid the price for the chaos unleashed by his mini-budget as he was reportedly sacked by Liz Truss.
Liz Truss is to hold a press conference today after she sacked Kwasi Kwarteng as chancellor over the mini-budget disaster that tanked the pound.
Prime Minister Liz Truss is to hold a press conference later on Friday, Downing Street has said.
Kwasi Kwarteng is flying back to London for crisis talks with Liz Truss amid turmoil in the Tory party and economic chaos caused by his mini-budget.
Kwasi Kwarteng did not commit to nor rule out a U-turn on corporation tax, despite growing pressure to abandon even more parts of the recent mini-budget which caused market turmoil.
A warning from Liz Truss has come back to haunt her after footage showing her saying a tax cuts bonanza would lead to "boom and bust" was unearthed.
American western movie Rust, starring Alec Baldwin, will continue filming in January 2023 it has been confirmed. It comes as a deal was agreed with Halyna Hutchins' husband who will sit as an executive producer on the film.
HBO series Succession.On Monday (October 3), the Chancellor of the Exchequer said in a statement that “we get it and we have listened”, as he announced plans to scrap a controversial tax cut for those earning over £150,000 a year.His statement, however, was soon mocked on social media, with many comparing it to a speech given by Sarah Snook’s character Shiv Roy in Succession.In a season three episode of the hit show, Shiv used the phrase “we get it” while addressing Waystar Royco employees about a series of scandals that had hit the company.“As a #Succession obsessive, I’m really enjoying the tories leading with “We get it” on the 45p tax rate climb down. Is @lucyprebblish writing the script for our government now?” wrote one person.Another joked: “Does the UK government have the same PR advisers as Waystar Royco?”“Wasn’t ‘we get it’ literally the slogan Waystar went with in Succession after it came out that they’d done a bunch of shady things? And then ‘we hear you’ after their version of Siri was spying on people?” added another.As a #Succession obsessive, I'm really enjoying the tories leading with "We get it" on the 45p tax rate climb down.