The new chancellor, Jeremy Hunt, will deliver a key financial statement today, as part of renewed effort to ease the financial turmoil Britain is facing.
Among the measures announced by Mr Kwarteng expected to be junked are his promise to bring forward a 1p cut in the basic rate of income tax to April., who some commentators have suggested may not even last the week as the mood among Tories turns toxic and mutinous., amid some suggestions he could replace her.
Other names being mentioned are the defence secretary Ben Wallace, or a joint ticket of former chancellor Mr Sunak and fellow defeated leadership contender Penny Mordaunt, the leader of the House of Commons. But Ms Mordaunt offered the PM her full support, using a piece in the Telegraph to warn that the UK ‘needs stability, not a soap opera’.
Financial markets open at 8am this morning, amid concerns about reactions to another weekend of political drama.
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