Kwasi Kwarteng cuts US trip short and flies back to London for crisis talks

The Metro says Kwasi Kwarteng has cut short a trip to the US to fly back to London where he is widely expected to announce the mother of all U-turns.

The chancellor is under intense pressure to scrap his economic plans after they caused turmoil in the markets and threatened to split the party in two.

With the Tories miles behind Labour in the polls and talk of a leadership challenge mounting, there is also speculation Liz Truss could sack her close ally in a bid to restore the government’s economic reputation.

Mr Kwarteng had been due to hold further meetings in Washington DC where he was attending a meeting of global finance ministers.