Second major mini-budget U-turn as Truss announces government will raise corporation tax
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The government will raise corporation tax despite promising not to do so in the mini-budget. Kwasi Kwarteng, who was today sacked as…
Truss appoints Jeremy Hunt as chancellor after sacking Kwarteng in bid to steady the economy
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Jeremy Hunt has been appointed as Liz Truss’s new chancellor, in a stunning reversal of political fortune and a sign that the…
Cryptocurrency firm advised by Philip Hammond withdraws UK application
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A cryptocurrency firm that employs the former chancellor Philip Hammond as an adviser has withdrawn its application to operate in the UK,…
Liz Truss set to sack Kwasi Kwarteng in bid to save her own position
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Liz Truss is poised to sack her chancellor Kwasi Kwarteng and announce plans to raise corporation tax as she abandons key parts…
MPs give Truss 17 days to save premiership with Sunak & Mordaunt lined up as replacements
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Senior Conservatives are holding talks about replacing Liz Truss with a joint ticket of Rishi Sunak and Penny Mordaunt as part of a “coronation”…
Warehouses, offices and shopping centres ‘to lose fifth of their value’
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The sharp rise in borrowing costs since Kwasi Kwarteng’s “mini-budget” means that most of Britain’s warehouses, offices and shopping centres will lose…
Banks set to reign in lending as economic outlook darkens
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Lenders expect the availability of mortgages and consumer and corporate credit to shrink as more people and businesses default on loans. Rising…
Kwarteng leaves Washington early with another mini-budget u-turn on the cards
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Kwasi Kwarteng is ending his trip to Washington a day early, flying back to London amid speculation that the government is planning…
Bank of England to stop government bond-buying scheme today
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The Bank of England is set to stop its government bond-buying scheme today after attempting to reassure the UK’s financial markets. The…
Royal Mail plans to make up to 6,000 roles redundant by August
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Royal Mail has announced it will begin a process to make 5,000 to 6,000 roles redundant by August next year. The announcement,…