Kwasi Kwarteng expected to announce a huge U-turn following strong criticism of his mini-budget
Good morning, and we are starting early this morning because it is being reported that Kwasi Kwarteng, the chancellor, is about to announce a huge U-turn. Only yesterday Liz Truss told the BBC’s Laura Kuenssberg that she was committed to sticking to the plan, announced in the min-budget, to abolish the 45% top rate of tax. Now the government is set to ditch it – after it became clear on the first day of the Conservative party conference that Truss would face a huge rebellion if she tried to force her MPs to vote for it.
The Sun’s political editor, Harry Cole, first broke the news of the U-turn last night. He is co-writting a biography of Truss, and is one of the journalists seen as being close to her administration.
