Tory MPs are reportedly in talks with the Labour Party to defeat certain parts of Kwasi Kwarteng’s mini-Budget. Rebels are apparently in talks with the opposition to make sure that the government’s controversial new measures are brought to a vote in the House of Commons. Conservative MPs are particularly angry about the plan to abolish the 45p top rate of income tax, LBC and The Times have reported. More
An expert watchdog’s verdict on the tax-slashing mini-Budget will be kept secret for nearly two months after the chancellor refused to publish it.Kwasi Kwarteng is defying calls, including from Conservative MPs, to reassure markets by revealing the official forecast of how his dash for growth will affect the economy.After an unprecedented emergency Downing Street meeting on Friday, the Office for Budget Responsibility (OBR) said its initial findings would be on the chancellor’s desk within a week. More
The Treasury watchdog will deliver a report on Kwasi Kwarteng’s backfiring budget next week, but the chancellor is refusing to publish it until November.The Office for Budget Responsibility (OBR) was barred from assessing last week’s tax-slashing package – a controversial move which helped trigger the financial and political crisis that followed.Following an emergency meeting with Liz Truss and the chancellor, the OBR said it will deliver “an initial forecast” next Friday on “economic and fiscal prospects and the impact of the government’s policies”. More
A senior Tory MP says his party has already lost the next general election and is urging Liz Truss not to wreck the economy before the inevitable defeat.In extraordinary comments, Charles Walker said the government had a “duty to the country to get the public finances in the best shape possible” before it loses.As polls put the Conservatives up to 30 points behind Labour after the tax-slashing budget gamble backfired, Sir Charles it is “hard to construct an argument” that his party retain power. More
Sign up to the Inside Politics email for your free daily briefing on the biggest stories in UK politics Get our free Inside Politics email Devolved governments leaders have demanded an urgent meeting with chancellor Kwasi Kwarteng over his “disastrous” mini-Budget and fears of new age of austerity. The finance ministers of Scotland, Wales and […] More
Sign up to the Inside Politics email for your free daily briefing on the biggest stories in UK politics Get our free Inside Politics email Liz Truss’s government is on course to make public spending cuts of almost £50bn a year after the “unenforced error” of Kwasi Kwarteng’s mini-Budget, according to top economists. Experts at […] More
Sign up to the Inside Politics email for your free daily briefing on the biggest stories in UK politics Get our free Inside Politics email Devolved governments leaders have demanded an urgent meeting with chancellor Kwasi Kwarteng over his “disastrous” mini-Budget and fears of new age of austerity. The finance ministers of Scotland, Wales and […] More
Sign up to the Inside Politics email for your free daily briefing on the biggest stories in UK politics Get our free Inside Politics email Liz Truss’s government is considering ways to shrink the size of the welfare state, a key cabinet ally Simon Clarke has suggested. The levelling up secretary said ministers were looking […] More
