Today’s news summary – Paper Talk
Most of Tuesday’s front pages lead with the reaction to the government’s u-turn on the scrapping of the 45p tax rate for the highest earners. It is seen as an embarrassing reversal for PM Liz Truss and her government.
“Get a grip,” says the headline for the Daily Mail – which reacts to the news of the government’s U-turn on scrapping the top rate of tax. The paper says the PM “caved in” to pressure from top Tory MPs – raising concerns among her supporters that she lacks the determination to see through the rest of her programme.
Government u-turn on tax rate – the reaction! the embarrassment!
“What a day,” says the headline on the Metro – which quotes the chancellor himself. The Daily Star mocks up the chancellor and PM in a clown car and calls Liz Truss a “Poundland Thatcher” – saying the lady is for U-turning.
The Daily Mirror calls the chancellor shameless and said he “laughed off” the reversal during the conference speech. Whilst the PM frames the reversal as her listening to people’s concerns, telling the Daily Express, it’s not been an easy week.
The Financial Times calls the U-turn an embarrassment for Liz Truss and Kwasi Kwarteng. The paper says while dropping plans to axe the tax rate may ease some political pressure, the economics of the mini-budget still do not add up.
The Times looks at credibility following the U-turn and says the government cannot make any more mistakes. The paper says only a credible plan to reduce debt can revive the government and party.
Both the Telegraph and the Guardian say Tory rebels are now aiming to prevent a squeeze on benefits.
The Telegraph says No 10 is considering increasing Universal Credit by below inflation. They are said to be preparing to question whether its fair people on benefits receive inflation-liked rises, while many workers get real-term pay cuts.
Olivia Pratt-Korbel shooting – Thomas Cashman arrested
Away from politics, the Sun’s front page carries a picture of Thomas Chasman, 34, who is accused of murdering Olivia Pratt-Korbel, 9 in the Liverpool shooting.
Many of the papers report on comments by Jeremy Paxman who was diagnosed with Parkinson’s Disease.