Looming D-Day announced for Truss mini-Budget as OBR reveal forecast date

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.

Jeremy Hunt has announced the government will make a number of U-turns as he rips up the Government's mini-budget. He made the announcement during a televised address on Monday (October 17).

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.

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.

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 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.

Ian Blackford has accused Liz Truss of "ignoring the damage and the chaos" of her mini-budget that plunged the markets into turmoil due to her unfunded tax cuts.

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.

Nicola Sturgeon has accused Liz Truss of "ranting" about her opponents during the Prime Minister's speech to the Conservative party conference today.

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 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.

Prime Minister Liz Truss has defended her Government's controversial tax cuts as she vowed to 'usher in a decade of dynamism'. Truss has come under fire from Labour who accused the Prime Minister and Chancellor Kwasi Kwarteng of gambling with people’s finances in 'casino economics', and claimed their 'trickle-down' approach will leave the next generation worse off.

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.