LIZ Truss is bracing for her first PMQ's since Jeremy Hunt was made Chancellor and axed nearly all of her mini-budget policies.
At 12pm today, Liz Truss will face Sir Keir Starmer in what's set to be a dramatic session and the first since Jeremy Hunt drastically tore up her tax cuts pledge.
But the PM could even face calls from rebel Tory MPs to go as her leadership hangs in the balance.
Meanwhile, Downing Street has indicated ministers could ditch their commitment to the triple lock pension, as the new Chancellor searches to plug a multi-billion pound black hole.
"I've committed to the triple lock. Yes," Truss said in a BBC interview this week- but after replacing Kwasi Kwarteng in the Treasury after their disastrous mini-budget, Downing Street has backed down on this pledge.
Read our Liz Truss live blog below for the latest news & updates….
- Henry Moore
How much will you lose after Monday's income tax change?
On Monday, the Chancellor announced a reversal of the proposed 1p cut to income tax.
Brits will now stand to lose up to £377 in tax cuts per year.
How much will you lose?
- Henry Moore
Tory party members have their say on Liz Truss
Speaking to the BBC, a number of Tory party members have been critical of Liz Truss, with one stating the members are “destroying the party from the inside.”
One voter, named Mackenzie Vaughan, said: “I’ve been a member for years and this is the first time I’m totally questioning it. And it’s because we’re not uniting. I feel we’re more backstabbing, and we’re destroying our own party from the inside.
“We have a prime minister, we should be supporting her.”
- Henry Moore
Could there be a general election?
Embattled PM Liz Truss is facing challenges to her leadership from all corners, just six weeks into her time in Downing Street.
But could we see a general election called soon?
A general election is, at present, very unlikely.
This is because the Conservative party have such a large majority in Parliament, so it would not make much sense for them to call one.
- Henry Moore
ERG meeting goes well for Liz Truss, reports claim
According to Sky News, the PM’s meeting with the European Research Group of Conservative MPs yesterday evening went well.
Mark Francois, chair of the group, told the organisation: “There was a great deal of support and indeed empathy for the prime minister, she spoke well, she carried the room.”
Liz Truss is facing mutiny from her own MPs this week, following the destruction of her mini budget.
- Henry Moore
Sale of government bonds delayed until November
The Bank of England has delayed the sale of government gilt bonds by a day, following the announcement of Jeremy Hunt’s October 31 statement.
In a statement on Tuesday, it said: “The first gilt sales operation was scheduled to take place on 31 October 2022 and proceed thereafter.
“In light of the government’s fiscal announcement now scheduled for 31 October 2022, the first gilt sale operation will now take place on 1 November 2022.”
- Henry Moore
Liz Truss on ‘pretty thin ice’ says Tory MP
Speaking to ITV News yesterday, Liam Fox, a Conservative MP, said that Liz Truss is on “pretty thin ice.”
This comes as mutinous tories circle the PM, calling for her resignation after the failure of her mini budget.
Today, Mrs Truss will face PMQs, where she will face a grilling from MPs across the political spectrum.
- Henry Moore
Recap: How Jeremy Hunt slashed the 'mini budget'
- The energy price guarantee of average £2,500 a year bills will be only capped until April – with support for the richest households to end after that
- The 1p off income tax planned for next April has been junked
- The planned reforms to offroll pay working will go ahead as planned – and won’t be ditched as Kwasi Kwarteng wanted
- Cutting VAT for foreign tourists visiting the UK will be ditched
- The cuts to National Insurance and slashing of stamp duty will remain
- That comes on top of the u-turn not to ditch the top 45p rate of tax, and to ditch plans to cut corporation tax – which have already been announced
Truss should ‘absolutely not’ resign, says Rees-Mogg
Leaving the Commons on Monday, Jacob Rees-Mogg defiantly defended Liz Truss, after some Tory MPs called for her resignation.
“[She is] a very good prime minister,” he told PA Media, adding that she should “absolutely not” resign.
This week, Jeremy Hunt slashed almost all of Truss’s mini budget, reversing a slew of tax cuts.
Reversing commitment to the triple lock a ‘mutual decision’ between PM and Chancellor, spokesperson claims
Liz Truss has decided to not stand by her commitment to the triple lock on pensions this week.
This decision, according to a Downing Street spokesperson, was a “mutual” one made by both the PM and Jeremy Hunt.
“Obviously the prime minister and chancellor had a number of discussions ahead of the statement yesterday, including over the weekend,” he said.
“And their agreed position is to prioritise economic stability and to not making any commitments on individual policy areas at this point and wait until the 31 October to come forward.”
- Henry Moore
How much will you lose after yesterday’s income tax change?
Yesterday, the Chancellor announced a reversal of the proposed 1p cut to income tax.
Brits will now stand to lose up to £377 in tax cuts per year.
How much will you lose?
- Henry Moore
Tory party members have their say on Liz Truss
Speaking to the BBC, a number of Tory party members have been critical of Liz Truss, with one stating the members are “destroying the party from the inside.”
One voter, named Mackenzie Vaughan, said: “I’ve been a member for years and this is the first time I’m totally questioning it. And it’s because we’re not uniting. I feel we’re more backstabbing, and we’re destroying our own party from the inside.
“We have a prime minister, we should be supporting her.”
- Henry Moore
Jeremy Hunt meets with Sir Graham Brady
According to Sky News, the newly-appointed Chancellor met with Sir Graham Brady this afternoon, sparking more questions about the PM's future.
This comes amid speculation that Liz Truss may be replaced in the coming days, as she faces mutiny from her MPs.
- Henry Moore
Could there be a general election?
Embattled PM Liz Truss is facing challenges to her leadership from all corners, just six weeks into her time in Downing Street.
But could we see a general election called soon?
A general election is, at present, very unlikely.
This is because the Conservative party have such a large majority in Parliament, so it would not make much sense for them to call one.
- Henry Moore
ERG meeting goes well for Liz Truss, reports claim
According to Sky News, the PM's meeting with the European Research Group of Conservative MPs this evening went well.
Mark Francois, chair of the group, told the organisation: "There was a great deal of support and indeed empathy for the prime minister, she spoke well, she carried the room."
Liz Truss is facing mutiny from her own MPs this week, following the destruction of her mini budget.
- Henry Moore
Sale of government bonds delayed until November
The Bank of England has delayed the sale of government gilt bonds by a day, following the announcement of Jeremy Hunt's October 31 statement.
In a statement on Tuesday, it said: "The first gilt sales operation was scheduled to take place on 31 October 2022 and proceed thereafter.
"In light of the government's fiscal announcement now scheduled for 31 October 2022, the first gilt sale operation will now take place on 1 November 2022."
- Henry Moore
Liz Truss on 'pretty thin ice' says Tory MP
Speaking to ITV this evening, Liam Fox, a Conservative MP, said that Liz Truss is on "pretty thin ice."
This comes as mutinous tories circle the PM, calling for her resignation after the failure of her mini budget.
Tomorrow, Mrs Truss will face PMQs, where she will face a grilling from MPs across the political spectrum.
- Henry Moore
Recap: Yesterday’s economic announcements
- The energy price guarantee of average £2,500 a year bills will be only capped until April – with support for the richest households to end after that
- The 1p off income tax planned for next April has been junked
- The planned reforms to offroll pay working will go ahead as planned – and won’t be ditched as Kwasi Kwarteng wanted
- Cutting VAT for foreign tourists visiting the UK will be ditched
- The cuts to National Insurance and slashing of stamp duty will remain
- That comes on top of the u-turn not to ditch the top 45p rate of tax, and to ditch plans to cut corporation tax – which have already been announced
Truss should ‘absolutely not’ resign, says Rees-Mogg
Leaving the Commons yesterday evening, Jacob Rees-Mogg defiantly defended Liz Truss, after some Tory MPs called for her resignation.
“[She is] a very good prime minister,” he told PA Media, adding that she should “absolutely not” resign.
Yesterday, Jeremy Hunt slashed almost all of Truss’s mini budget, reversing a slew of tax cuts.
Reversing commitment to the triple lock a 'mutual decision' between PM and Chancellor, spokesperson claims
Liz Truss has decided to not stand by her commitment to the triple lock on pensions this week.
This decision, according to a Downing Street spokesperson, was a "mutual" one made by both the PM and Jeremy Hunt.
"Obviously the prime minister and chancellor had a number of discussions ahead of the statement yesterday, including over the weekend," he said.
"And their agreed position is to prioritise economic stability and to not making any commitments on individual policy areas at this point and wait until the 31 October to come forward."
How much will you lose after yesterday’s income tax change?
Yesterday, the Chancellor announced a reversal of the proposed 1p cut to income tax.
Brits will now stand to lose up to £377 in tax cuts per year.
How much will you lose?
Rebel MPs have a takeaway and discuss Truss's future
Rebel Mel Stride hosted more than a dozen "miserable" Conservative MPs in his large House of Commons office to discuss the future of Liz Truss.
At least four Tory MPs have openly called for Mrs Truss to resign in recent days.
Among the attendees were ex-Ministers John Glen, Nick Gibb, Mark Garnier and Shailesh Vara.
One attendee told The Sun: "the vast majority of attendees were Rishi Sunak supporters, but there were Penny people too. It was not a Rishi thing."
Another present insisted: "If that was a plot, then Truss is safe where she is. It was just a room of very concerned people with absolutely no credible solution to the problem".
- Henry Moore
Lib Dems slam liz Truss, amid triple lock controversy
A spokesperson for the Liberal Democrats has taken aim at Liz Truss, according to Sky News, as reports suggest her government could scrap the triple lock on pensions.
"Liz Truss has trashed the economy and now looks set to betray struggling pensioners in the middle of a cost of living crisis," Lib Dem spokesperson Wendy Chamberlain said.
"This Conservative government's botched budget has already sent mortgage bills spiralling.
"It would be a kick in the teeth for millions of people if Truss now backtracks on her triple lock promise. The British public will never forgive the Conservative Party if they break this promise.
"This chaotic government has to go. Britain needs a general election before Liz Truss and her Conservative ministers do any more damage."
- Henry Moore
‘We can’t go on like this’ – Keir Starmer
Labour leader Keir Starmer has hit out at the Conservative party, claiming that there must be a general election if the Conservative party change their leader.
Speaking on radio 2’s Jeremy Vine programme, the labour leader said: “They surely can’t change the person at the top again without asking the public what they think of this.
“We can’t go on like this, shutting the public out, and I think many people now feel that the real risk now is carrying on with this lot rather than actually having a general election, bringing in a Labour government and securing our economy. That’s the first thing that absolutely needs to be done.”
- Henry Moore
Public services not to be affected by cuts, Hunt says
During his meeting with cabinet ministers this morning, Jeremy Hunt reportedly said public services will not be affected by his planned spending cuts.
He added that public spending should increase overall, but stressed the need for the government to find further efficiencies.
- Henry Moore
Hunt tells ministers that cuts are coming
Jeremy Hunt reportedly used the meeting of cabinet ministers this morning to tell his colleagues that massive cuts are on their way.
On top of this, taxes are likely to rise, according to the BBC.
This comes as the Tory party debates the future of Liz Truss, following the failure of her mini budget.
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