Today’s news summary – Paper Talk
Monday’s front pages, similar to the weekend, are not an easy read for prime minister Liz Truss. Most papers lead with reports that Tory MPs are plotting to oust the PM from office within the next few days.
Several papers look at the markets, the expected u-turns coming later today and the appointment of Mr Hunt as chancellor.
Tory MPs plot to oust PM
Penny Mordaunt offers a little support for the prime minister, via an article in the Daily Telegraph, saying: “Britain needs stability, not a soap opera.” The paper does point out that Penny Mordaunt’s article echoed themes of her own campaign – and the paper doesn’t rule out her making another bid for office is Truss leaves.
The paper’s editorial says the new chancellor Jeremy Hunt has done his best to reassure the markets, and hopefully calm the party – but he’s essentially said the country is in a mess after 12 years of Tory rule.
The Times says top Tories have already held secret meetings and have started plotting how to oust the PM – and arranging a “coronation” of a new leader. The paper calls it an “incendiary intervention” and quotes a senior ally of Liz Truss as accusing plotters of working against the British people by fuelling turmoil in the markets. The paper says if they don’t get a coronation of a new leader they will simply bring about an early general election.
The i quotes Tory MPs who have told the paper to expect a leadership challenge within days – which will make Ms Truss Britain’s shortest-ever serving leader. The Metro says “the plot thickens” – and sets out three possible outcomes: a Sunak-Mordaunt partnership, Ben Wallance, or new chancellor Jeremy Hunt entering No 10.
The Tory-loving Daily Mail predicts Tory MPs will attempt to oust Ms Truss this week. The paper says backbench MPs are pressing the chairmen of the backbench 1922 Committee to tell the PM her time is up.
The paper says some junior ministers are discussing a wave of resignations – similar to the start of the downfall of Boris Johnson – the paper quotes an MP as saying: “We need to cauterise the wound – and fast.”
The Financial Times says the PM’s decision to appoint Mr Hunt and scrap key parts of her economic platform has failed to reassure the markets and the city. The paper quotes Stuart Rose saying the PM has lost the confidence of investors. Whilst the Daily Mirror headlines: “PM on the brink”, adding it says to be in office but not in power severs nobody.
The Guardian says ministers are waiting anxiously for markets to open, amid fears sterling could head towards parity with the dollar and that rising bond yields would put upward pressure on mortgage rates.
The Daily Express reports on the same point, calling it D-Day for Truss – when the financial markets open for the first time since her mini-budget was blown up.
Met Police review
Away from politics, several front pages have coverages of the review of the Met Police which has found that sex offenders, racists and misogynists remain on the books – because, according to the Times, the Met has an “anything goes” attitude to misconduct.
Whilst the Mail says the Met’s grotesque scandals have become so common they have lost the power to shock.