The Chancellor is under pressure to U-turn on more parts of his mini Budget
She said the U-turn "comes too late for the families who will pay higher mortgages and higher prices for years to come".
Sir Ed said the Government has made a "small change", adding: "We need a far more radical overhaul of the Budget, we need it soon and we need it to be done in a transparent way, and I come to the conclusion, regrettably, that I think this Chancellor can't deliver that." Speaking to LBC's Nick Ferrari, he said: "I've seen the reaction, people have expressed concerns, I've talked to MPs… I've took the decision his was actually a huge distraction."Mr Kwarteng insisted the Bank of England's intervention to buy up Government bonds in a £65bn spree after his mini-budget was announced was not the result of the plan to cut the 45p bracket, insisting a "range of things going on in the gilt market".
That is despite him insisting his mini-budget, which sparked turmoil in the markets, was the "right thing to do" and the Tories must "stay the course". It has also been reported that Conservatives will not be asked to vote on endorsing such a tax cut until November, when it will be announced how the cut will be funded.
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