UK

Liz Truss says she had “absolutely no shame” in performing a dramatic U-turn on the government’s plan to scrap the 45p higher rate of tax. The prime minister told Sky News’ political editor Beth Rigby she “took the decision very rapidly” to axe the policy, which was “becoming a distraction” from the rest of the

Liz Truss is facing a fresh battle with Conservative MPs over a potential benefits squeeze and cuts to public spending, after already being forced into making a policy U-turn. The prime minister is under pressure to set out whether benefit payments will be uprated in line with inflation, or if they will face a real-term

The energy regulator has warned the UK is facing a “significant risk” of gas shortages this winter. The information, which was revealed in a letter sent from Ofgem last week and first revealed by The Times, spoke of the possibility of “gas supply emergency” measures to help preserve stocks due to the impact of Russia’s

Chancellor Kwasi Kwarteng has confirmed that the government is axing plans to give the wealthiest 1% a tax cut following a bitter backlash from Tory MPs. Mr Kwarteng said in a tweet that the measure had become a “distraction” from his objection to grow the economy. He said: “We get it, we have listened.” Politics

Liz Truss has admitted that she “should have laid the ground better” for the government’s tax-cutting mini-budget after the pound slumped to a record low. The prime minister said she has “learnt from that” and “will make sure in future we will do a better job of laying the ground”. Ms Truss also doubled down

Liz Truss has doubled down on her controversial tax-cutting agenda, telling Conservative rebels that she is “going to do things differently” and that “there is no option but to change”. The prime minister is set to face a wretched week at the Tory Party conference after the disastrous reaction to Kwasi Kwarteng‘s tax-cutting mini-budget last

A man has been charged with the murder of nine-year-old Olivia Pratt-Korbel who was shot dead in her home in Liverpool. The Crown Prosecution Service said 34-year-old Thomas Cashman has been charged with the girl’s murder and the attempted murder of her mother Cheryl. Cashman has also been charged with the attempted murder of convicted

Prince William has called for improved online safety for children after a coroner ruled social media contributed to the death of 14-year-old Molly Russell. The Prince of Wales said: “No parent should ever have to endure what Ian Russell and his family have been through. They have been so incredibly brave. Online safety for our

Consumers are being warned they may be targeted by scammers as the government’s energy price guarantee comes into effect. Messages asking for people to provide personal or financial details to receive support should be treated as fraudulent activity, as no applications are required, the business secretary has said. The £400 Energy Bill Support Scheme will

Labour has surged to record leads in multiple polls following the economic turmoil after the government’s mini-budget. A YouGov/Times poll placed Labour 33 points ahead of the Conservatives, believed to be the largest lead for Labour in any recorded poll since 1998. And a Survation poll had Labour on a 21 point lead – also

Liz Truss and Kwasi Kwarteng will meet the head of the UK’s independent fiscal watchdog today. The talks with the Office for Budget Responsibility come after a week of economic turmoil following last Friday’s mini-budget. It is highly unusual for a PM to attend an OBR meeting – but the Treasury has denied that this

Prime Minister Liz Truss’s external adviser on the economy has told Sky News that the chancellor had “taken his eye off the ball” and “overstepped the mark” with his mini-budget. Gerard Lyons, who is often referred to as Ms Truss’s favourite economist, said Chancellor Kwasi Kwarteng failed to adequately prepare the financial markets ahead of

Liz Truss is a “danger” to the economy and has “lost control” after the fallout from the government’s mini-budget, Sir Keir Starmer has told Sky News. Speaking to political editor Beth Rigby, the Labour leader stopped short of calling for the PM and her chancellor, Kwasi Kwarteng, to quit, saying it was a “secondary” issue.

Shoppers are paying a record 10.6% more for food than they were a year ago, figures show. Overall shop price inflation accelerated to 5.7% in September, up from 5.1% in August, in another record since the British Retail Consortium-Nielson IQ index began in 2005. Food price inflation rocketed past last month’s 9.3% to 10.6%, driven

Bank of England’s plain speaking will likely calm some of the volatility of the British economy Ian King Business presenter @iankingsky Central bankers are often accused of speaking in code or of making Delphic pronouncements. But the words today from Huw Pill, the Bank’s chief economist, could not be more clear. Mr Pill, who voted

The brother of a man shot dead in an unsolved murder says he is living in fear of an attack by the killer who is still at large. Alexander Kareem – whose sister is a serving Metropolitan Police officer – was gunned down near his home in Shepherd’s Bush, west London, in June 2020, in

The pound has fallen to a record low against the dollar amid a fresh investor rush towards the US currency globally. Sterling slipped by nearly 5% early on Monday to $1.0327 – building on fresh 1985 lows seen on Friday after UK chancellor Kwasi Kwarteng unveiled the biggest programme of tax cuts for 50 years.

The Bank of England says it “will not hesitate to change interest rates as necessary” after markets reacted badly to the chancellor’s tax-cutting mini-budget. In a statement, the Bank said it was “monitoring developments in financial markets very closely in light of the significant repricing of financial assets”. It came after the pound fell to

A freed British prisoner of war who was held by Russian-backed separatists has told Sky News how he was tortured over several days. John Harding said he was used as a “punching bag” by the guards in a holding facility in the self-declared Donetsk People’s Republic in eastern Ukraine. The centre was run by the

The Labour Party’s annual conference begins today – and policies on neighbourhood policing and clean energy are among those on the agenda. The Labour leader is seeking to set out the dividing lines between his party and the new Tory government during the four-day event. Speaking at a London Labour reception on Friday evening, Sir