Kwasi Kwarteng flies back to London after days of economic chaos caused by Tory mini-budget
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.
However, the situation remains precarious with the emergency support package put in place by the Bank of England to protect pension funds from collapse due to end on Friday. However, few MPs believe he can afford to wait that long, and in a later interview with The Daily Telegraph he said only “let’s see” when asked if he could ditch his promise on corporation tax.
The senior Conservative MP Mel Stride, who chairs the Commons Treasury Committee, said it was essential that the Government acted decisively if it was to restore confidence. A Treasury spokesman said: “After completing a successful series of meetings at the IMF, the Chancellor is returning to London today to continue work at pace on the medium-term fiscal plan.”
“I know the Prime Minister has got total confidence in Kwasi Kwarteng,” he said, adding that the Chancellor was “an incredibly capable person, a very, very bright person who makes good judgment calls”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mini-budget U-turn expected as Kwasi Kwarteng cuts US trip short amid economic chaosKwasi Kwarteng mini-budget U-turn expected: Chancellor flies home early from Washington amid economic chaos
Read more »
Mini-budget U-turn on table as Kwasi Kwarteng flies homePressure mounts on Liz Truss to U-turn over her fiscal plans as the chancellor cuts short his US trip.
Read more »
Kwasi Kwarteng: I'm not going anywhere, says chancellor“What matters in politics is winning the next election” Ed Costelloe, Grassroots Conservatives Chair, doubts that the government’s economic package can move voting intentions in the Conservative Party’s favour in time for the next election. Newsnight
Read more »
Kwasi Kwarteng to return early for crunch talks with Liz Truss - BBC NewsChancellor Kwasi Kwarteng cuts short visit to the US to hold urgent talks with Liz Truss over the mini-budget Latest
Read more »
Kwarteng insists no more mini-budget u-turns despite claims government ‘may raise corporation tax’The government will not reverse any more policies from the mini-budget, Kwasi Kwarteng has insisted, despite claims that the corporation tax could go up next year.
Read more »
'I am not going anywhere': Kwasi Kwarteng insists job is safe despite reports another U-turn on tax cuts is on the wayKwasi Kwarteng has insisted the Government's 'position has not changed” as he faces pressure to drop more parts of his disastrous mini-budget.
Read more »