Politics

Penny Mordaunt has become the first MP to enter the race to replace Liz Truss as prime minister after her dramatic resignation yesterday. The leader of the Commons announced her candidacy in a tweet on Friday afternoon, saying fellow Conservatives had urged her to stand. Ms Mordaunt, who came third in the last leadership race

Rishi Sunak has announced his bid to become the next Conservative leader and prime minister, six weeks after Liz Truss beat him to the top job. The former chancellor has put himself forward for the second time in a matter of months after the extraordinary resignation of Ms Truss on Thursday, 44 days into her

Liz Truss has resigned as prime minister just 44 days after taking over from Boris Johnson. She will be the shortest-serving PM in British history. A new Conservative leader, who will get the keys to Number 10, is set to be elected next Friday. In a statement read outside Downing Street, Ms Truss admitted she

It was one of those days “you think has been made up”, a former Conservative adviser told Sky News last night. As MPs voted on a Labour motion to ban fracking, reports began to emerge of “bullying” and “manhandling” outside the no lobby. Tory MPs “went to bed crying”, Labour MP Chris Bryant told Sky

Suella Braverman has resigned from Liz Truss’s government after sending an official document from her personal email – and has taken aim at the prime minister as she departed the Home Office. In her resignation letter sent to the PM on Wednesday, the now former home secretary acknowledged she had breached government security rules, stating:

Liz Truss has said she is “completely committed” to the pensions triple lock at a make-or-break PMQs in the Commons on Wednesday. That means state pensions should rise in line with inflation – currently running at a rate of 10.1%. Ms Truss made the commitment in the Commons despite new chancellor Jeremy Hunt explicitly ruling

Defence Secretary Ben Wallace is on a hastily-arranged visit to Washington to talk with his counterpart and White House officials about “shared security concerns” including Ukraine and Russia, a source and an official said. The secretive, last-minute nature of the trip and a comment by a second defence minister, James Heappey – who said the

The majority of Conservative Party members want Liz Truss to resign now – just six weeks after voting her in – and their preferred replacement is Boris Johnson, a new poll has found. A YouGov poll of Tory members found 55% would now vote for Rishi Sunak, who lost out to Ms Truss, if they

It looks to be over. Jeremy Hunt’s decision to not just junk most of Liz Truss’s tax-cutting plan but go further and ditch much of her flagship energy policy signalled the end of not only “Trussonomics”, but potentially the prime minister herself. When the end comes is unclear: Ms Truss may have been bought some

After allowing her chancellor to rewrite the government’s energy price plan, Liz Truss has just removed one of her biggest remaining arguments for staying in power. Yes, reversing the Kwarteng income tax cut, abolishing the dividend tax changes and the VAT-free shopping scheme are very politically painful. But abandoning the existing energy price cap scheme

Just last month Liz Truss told Britons they could “ride out the storm” in her first speech as prime minister – now she has been warned “the game is up” as rumours swirl of plots to oust her. Tory MPs have started to publicly call for Ms Truss to step down, while former chancellor George

A senior Tory has accused the government of looking “like libertarian jihadists” and treating the country as “laboratory mice” over the past few weeks. Robert Halfon, former deputy chairman of the Conservative Party and an education minister under Theresa May, said he believes Liz Truss needs to apologise to the public for the economic turmoil

Jeremy Hunt has confirmed that Prime Minister Liz Truss’s economic vision is not only dead, but that the immediate actions of this administration will be to do almost exactly the opposite of what the prime minister promised during the summer leadership campaign. This was a cold, hard reality check from a chancellor who is being

The new chancellor Jeremy Hunt has said there “were mistakes” in Liz Truss and Kwasi Kwarteng’s mini-budget. Speaking to Sky News on Saturday, Mr Hunt said: “It was a mistake when we were going to be asking for difficult decisions across the board on tax and spending to cut the rate of tax paid by

Tory MPs appear to be divided over the future of Liz Truss as prime minister following her major U-turn announcement. Ms Truss reversed a key policy to scrap the planned rise in corporation tax from 19% to 25% after she sacked Kwasi Kwarteng as chancellor. Heated messages were shared in Conservative Party WhatsApp groups after

Kwasi Kwarteng has landed back in the UK after leaving the US early as his future lies in the balance ahead of another potential mini-budget U-turn. The chancellor arrived at Heathrow just before 11am on Friday after leaving International Monetary Fund (IMF) meetings in Washington DC a day early. He was then rushed to Downing

The chancellor has insisted he is “not going anywhere” amid the economic turmoil – and when asked if he was about to do a U-turn on corporation tax he said: “Let’s see”. Speaking earlier in the US where he is attending IMF meetings, Kwasi Kwarteng told reporters that he remains “totally focused” on delivering the

The mood in the Conservative Party is moving really fast. Asked where Tory MPs’ heads are now in relation to Liz Truss, one replied: “In their hands”. Her meeting with Tory MPs on Wednesday evening was described as delusional, trying to pin everything on Vladimir Putin and saying people should be giving her government more

UK government borrowing costs have hit a 20-year high after the Bank of England confirmed its emergency bond-buying programme will end on Friday as planned. On Wednesday morning, it said all temporary and targeted purchases of UK government bonds, known as gilts, would stop. This has been the position throughout and has been “made absolutely

Jacob Rees-Mogg has declared his confidence in the governor of the Bank of England, but disputed that pension funds are at “systemic” risk. Speaking to Sky News, the business secretary said “of course” he has confidence in Andrew Bailey, describing him as “respected”. He questioned, however, whether there was a “systemic problem” with pensions after