Former minister Michael Gove has become the latest senior Tory to savage Liz Truss’s mini-budget, reports the Metro. The paper says the former levelling-up secretary called the mini-budget “not Conservative” and critised “a number of mistakes” in the PM’s plans to grow the economy by increasing the amount of borrowing.
According to the Daily Mirror, a senior Tory has warned that Liz Truss will be ousted as prime minister by Christmas unless she ditches her tax cuts for the wealthy. “Truss ‘is finished'” is the headline on the front of the paper, which quotes a former cabinet minister’s damning verdict Truss’s premiership.
Chancellor Kwasi Kwarteng is due to say “we must stay the course” and stick to his plan to deliver economic growth on Monday, reports the Daily Express. The paper says the chancellor will draw a line under the market turmoil of the past week when he issues a “conference battle cry” this afternoon at the Conservative Party conference in Birmingham.
How many more must die? that’s the headline on the front page of the Sun which reports Mel B has demanded action to tackle domestic abuse.
Monday’s front pages report on the Tory rebellion over the plans to abolish the 45p tax rate. The row had dominated the news all weekend before Monday morning’s events – the government’s U-turn on the plans.
A man has been shot dead at the social club of Donegal Celtic Football Club in west Belfast.
King Charles and Camilla the Queen Consort are set to visit Dunermline and Edinburugh in their first joint public engagements since the Queen’s funeral.
Chancellor Kwasi Kwarteng has confirmed that the government will U-turn on plans to scrap the 45p rate of income tax.
The death toll is rising in Florida folllowing Hurricane Ian as desperate residents fled their flooded homes by boats and air.
A tragic stadium crush at an Indonesian football match has seen 125 people killed – it’s become one of the world’s worst stadium disasters.
According to recent reports, a large number of students at Sharif university in Tehran are trapped in the campus car park, as clashes between Iranian police and students rage on.
Brazil’s election is heading into a second round which will see the left’s Lyiz Inácio Lula da Silva face far-right Jair Bolsonaro.
Why is Zelenesky adamant to join NATO? Ukraine has applied for a fast-tracked EU membership and now Zelensky has submitted a Fastrack NATO membership. The United States and NATO have continued to support Ukraine, all be it from an arm’s length, until this point, but it has always been reluctant to encourage its membership. Ukraine has submitted an official application to join NATO, President Volodymyr Zelenskyy said after Moscow annexed four Ukrainian regions earlier on…
As the Conservative Party conference gets underway in Birmingham the party is reeling over PM Truss mini-budget. As more party members are rebelling against the PM’s controversial mini-budget. The PM says she did not discuss with her whole cabinet the controversial scrapping of the 45p top tax rate. However, she accepts the government could have “laid the ground better” before setting out its plan to cut taxes. Truss mini-budget It’s a “possibility” Liz Truss has…
Gas pipelines were ‘sabotaged’, as major gas leaks were detected prior to explosions on Nord Stream 1 and Nord Stream 2. Seismologists recorded what they think were explosions before gas began pouring out of two Russia-to-Germany pipelines under the Baltic Sea. EU Commission chief Ursula von der Leyenagreed the leaks were caused by sabotage and warned of the “strongest possible response”. Two leaks were discovered on the gas pipeline, which Moscow shut down earlier this month in…
Italy’s Giorgia Meloni’s far-right Brothers of Italy wins the most votes in the Italian snap elections. In the lowest voter turnout since 1979. The far-right party has come top in Italy’s snap general election, which, if confirmed, would likely see her become the country’s first female prime minister. Italy will next push for the Italian version of Brexit as it reels from the harsh recession which is looming. Italy will have its most right-wing government…
The pound’s value affects everyone – from holidaymakers and shoppers to business owners and investor
The Guardian leads with the Bank of England’s warning that the UK is in a recession and interest rates may need to go higher. The paper reports the Bank of England (BoE) has warned Chancellor Kwasi Kwarteng the country is already in recession, after the economy shrank for the second quarter in a row. The paper also notes the BoE hiked interest rates by half a percent on Thursday, continuing its efforts to reduce inflation.
“Back from death row” is the headline in the Metro, reporting on the release of five British people who faced execution in Ukraine after being capture by Russia. The paper says the men were freed after Saudi Arabia helped negotiate a prisoner swap with between Moscow and Kyiv.
The i leads with the Bank of England’s decision to hike interest rates. The increase in interest rates to 2.25% means millions are facing a significant rise in their mortgage payments, the paper reports. The paper says Prime Minister Liz Truss and Mr Kwarteng are under pressure to prevent a “deep recession” with their “mini-budget” on Friday.
The paper leads with the killing of a 15-year-old boy in Huddersfield, who was stabbed to death outside his school. The paper says Khayri McLean was attacked as “horrified fellow pupils looked on” and died despite “desperate efforts” by a teacher to save him.
Under the headline “Go for growth!”, the paper reports on what it calls the “biggest tax cuts in decades”. The paper says “not since Margaret Thatcher” will taxes have been slashed this much and notes Mr Kwarteng will “herald a new era for Britain” when announcing them in the House of Commons.
The paper carries an exclusive claiming former Chelsea owner Roman Abramovich “played a key role” in negotiating the release. The paper says the Russian billionaire welcomed the five men onto a plane taking them from Russia to Saudi Arabia, giving them phones so they could contact their families.
Most of Friday’s front pages focus on the difficult economic outlook for the UK ahead of today’s mini-budget announcement – with expected tax cuts.
Chancellor Kwasi Kwarteng will release a mini-budget on Friday along with National Insurance and corporation tax cuts.
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