jeremy hunt? what options does - card in two weeks' time. jeremy hunt?time. jeremy - hunt? what options does he have and what do you think will happen on tax? . what do you think will happen on tax? , , . , tax? the first thing is if i was jeremy hunt. _ tax? the first thing is if i was jeremy hunt. i— tax? the first thing is if i was jeremy hunt, i would - tax? the first thing is if i was jeremy hunt, i would be - tax? the first thing is if i was i jeremy hunt, i would be making tax? the first thing is if i was - jeremy hunt, i would be making it jeremy hunt, iwould be making it very clear— jeremy hunt, iwould be making it very clear to be prime minister i am also keeping on the table with the more _ also keeping on the table with the more for— also keeping on the table with the more for tax cuts that were announced back in september may also need to— announced back in september may also need to be _ announced back in september may also need to be reversed. some of those don't _ need to be reversed. some of those don't make — need to be reversed. some o

jeremy hunt won't win any awards— 2005. jeremy hunt won't win any awards for— 2005.tory party is on 19 points in the tory party is on 19 points in the polar— the tory party is on 19 points in the polar basin total collapse, he is the _ the polar basin total collapse, he is the kind — the polar basin total collapse, he is the kind person take a to. another— is the kind person take a to. another person to watch like that would _ another person to watch like that would be — another person to watch like that would be penny mordaunt, leader of the house _ would be penny mordaunt, leader of the house of commons, and ben wallace. — the house of commons, and ben wallace, the defence secretary. their— wallace, the defence secretary. their supporters are hitting the phones — their supporters are hitting the phones tonight to try to rally support~ _ phones tonight to try to rally support. for liz truss, once you get the stuff — support. for liz truss, once you get the stuff out _ support. for liz truss, once you get the stuff out of the bottle, when people _ the stuff out of th

to jeremy hunt.— powerhouse rail and there is no money for it. powerhouse rail and there is no money for it— powerhouse rail and there is no money for it. there are too many different factions _ money for it. there are too many different factions wanted - money for it. there are too many different factions wanted to - money for it. there are too many| different factions wanted to many different factions wanted to many different things. it is impossible because of what henry has just set out. they are diametrically opposed in terms of what they want government to do.- in terms of what they want government to do. in terms of what they want covernment to do. ., , ., , ., , government to do. the tory party has alwa s government to do. the tory party has always been — government to do. the tory party has always been a — government to do. the tory party has always been a broadchurch _ government to do. the tory party has always been a broadchurch of- always been a broadchurch of opinions drawn across a ran

i've always on a personal level that along with jeremy hunt. see. my hunt. i was a shadow health secretary. the truth is that he is trying to fix something when immense damage has been done because of a very reckless, irresponsible budget three weeks ago from the conservative government. when homeowners are facing in increasing their mortgages and there are questions as to whether the pension go up or cut again for pensioners, whether working in disabled people will see the value of their social security payments that they rely on cut, within the cost of living crisis, i still think in the end this country after 12 years of conservative government have had enough of these disasters and the mess that has been made. we need to change direction, we need a fresh approach that brings certainty and stability. and that's what labour government would introduce that we would inevitably clear up the mess to the finances that the conservatives have bequeathed us. do that the conservatives have bequeathed us.— that the conservatives have bequeathed us. that the

. t ., anointed her successor in jeremy hunt. ~ .. s .. . anointed her successor in jeremy hunt.her it is enough in order to save her bacon, but as it stands, it looks like there is only going to be one conservative mp is a general election happens tomorrow and he ironically is the chair of the palm entry group for funerals. —— parliamentary group. it looks like they may move to remove the prime minister next week and we will see an interim caretaker government which will end up lasting the course of the remainder of this parliament. if they can turn that around, it is a massive uphill battle. you think she's going _ a massive uphill battle. you think she's going be — a massive uphill battle. you think she's going be toppled? - a massive uphill battle. you thinkj she's going be toppled? speaking a massive uphill battle. you think. she's going be toppled? speaking to serious mps in _ she's going be toppled? speaking to serious mps in the _ she's going be toppled? speaking to serious mps in the back— she's going be toppled? speaking to serious mps in the back benches - she's going

the uk's new chancellor, jeremy hunt, will hold talks with the prime minister liz truss later, as thefights to restore economic credibility. speaking to the bbc, mr hunt warned some taxes will increase and all government departments will be expected to find additional savings. posting online today, the prime minister has said she's "going to do things differently" in her quest for economic growth — promising she will "always act in the national interest". let's talk more about this to our political correspondent peter saull. jeremy hunt's challenge is quite considerable in terms of managing expectations at the same time as putting down strong markers that hopefully will reassure the markets when they open in the far east on sunday night. this when they open in the far east on sunday night-— sunday night. this first 48 hours has been about _ sunday night. this first 48 hours has been about exuding - sunday night. this first 48 hours has been about exuding call- sunday night. this first 48 hours | has been about exuding call him. sunday night. this first 48 hours - has been about exudin

_ that we see from the story, jeremy hunt has _ that we see from the story, jeremy hunt has talkedoing to be to take it again, politically forthe conservatives, there will be looking forward _ conservatives, there will be looking forward. the conservatives, there will be looking forward. , ., , , ., , ., forward. the story below this on front of the _ forward. the story below this on front of the ft, _ forward. the story below this on front of the ft, only _ forward. the story below this on front of the ft, only mention - forward. the story below this on | front of the ft, only mention this in passing is that the bt pension fund fell in that period of september, five days and fill in the valuation of 47 billion to 36 billion which is an indication of what kind of pressure this policy decisions placed on other parts of the economy and as they say, that doesn't mean they cannot meet the liabilities because things will settle down and allow the pension payout is years ahead but he gives you an idea of the problems they are facing. but the tory mp earlier this evening on the programme

from what we know of jeremy hunt, for it. from what we know of jeremy hunt. what — for it.jeremy hunt, what you expect _ for it. from what we know of jeremy hunt, what you expect from - for it. from what we know of jeremy hunt, what you expect from him - for it. from what we know of jeremy hunt, what you expect from him as| hunt, what you expect from him as chancellor now liz truss has had her plan for economic growth been thrown out the window? we plan for economic growth been thrown out the window?— out the window? we will have to wait and see. understandably _ out the window? we will have to wait and see. understandably this - out the window? we will have to wait | and see. understandably this morning he was refusing to be drawn on policy specifics, pointing out he�*d only been on the job for 12 hours and it would have to look at the numbers and the treasury. if we step back, the only thing different from him beyond the tone which is a marked change, he takes the issue of balancing the books more seriously and recognises it will take tough decisions. the substance from l

jeremy hunt is de facto u.k.me minister at the moment, he calls shots on this number one issue, which is how the u.k. resource fiscal credibility, and all of the discretionary stuff that lists -- that liz truss wants to do is not really in her power anymore. manus: alex, good morning. how damaging was friday night's press conference in downing street? i was watching, it was someone who seemed like they did not know where to look or what to do. alex: i think it was very damaging. i think it demonstrated that u.k. leadership was not really on the same plane as some other folks, and you have to demonstrate a certain amount of competence. manus: they were brief, alex, the chancellor and liz truss were brief, and i can tell you that factually, they were briefed before they came out with this version of the budget. they were told not to do it this way. alex: i think they have spent too much time talking to a set of people that didn't necessarily get them to heed those warnings that they were being given. that fatal mis

jeremy hunt the now the tax and spending measures 2 weeks earlier than planned. he says he won't borrow 2 fund tax cuts. so the basic income tax rate will remain at 20 percent indefinitely and confirm people in the u. k. will receive support to pay the energy bills until april, when it will become kept and targeted. the most important objective for our country right now is stability. governments cannot eliminate volatility in markets, but they can play that part. and we will do so. because instability affects the prices of things in shots, the cost of mortgages, and the values of pensions. there will be more difficult decisions, i'm afraid, on both tax and spending. as we deliver our commitment to get that falling as a share of the economy over the medium term, what will is ball the politics and the economies? this decision jehovah will be outside the bank of england to under simmons joins us live from westminster, where it's all happening a little bit later. jeremy hunt due to address parliament to the next hour or so. any sign of the prime minister? well a surp

whoever has got to be prime minister needs a good relationship with jeremy hunt.jeremy hunt were to be removed, the markets would see that is a very adverse move. a bit parochial and domesti, the overseas market and what the united states thinks, what europe and japan thanks. we are a highly respected country. our wheels have fallen off. we have a government of all the great cultures, not just breg sitters, levs -- brexiters, leavers,ut we have to pull very hard as long as this administration last. >> conservative party members may be involved again. we shall know by next friday. what will they me of liz truss's premiership? we have been finding out. >> shopping for a new leader. it and this traditionally safe conservative seat, party members and voters have been watching recent defense with consternation. simon robinson is the leader of russia cliff counsel in nottingham shire. how do you feel as leader of local counsel? >> disappointed, surprised. i've never seen anything like it. it has happened so quickly. not just the prime minister level, but other ministers

become the face of jeremy hunt's administration?— become the face of jeremy hunt's administration?stration? even if she has the stomach for it, can _ administration? even if she has the stomach for it, can she _ administration? even if she has the stomach for it, can she survive - administration? even if she has the stomach for it, can she survive and | stomach for it, can she survive and what do you read into the fact that she has decided not to turn up to answer the urgent question that sir keir starmer has been granted? that makes perfect _ keir starmer has been granted? t'isgt makes perfect sense because it would have been embarrassing and she would have been embarrassing and she would have taken flak from her own mps. we will see the response from the backbenches to whatjeremy hunt will say later. will they vent? will they welcome him? will they welcome him in a way that they recognise our has shifted to him question mark she will be watching this right now, thinking, can i continue being the face of an administration that is not my own but which has repudiated the basis on wh

the chancellor jeremy hunt. the financial chancellorjeremy hunt. considered a safe _ moved. how come? jeremy hunt is considered a safe pair— moved. how come? jeremy hunt is considered a safe pair of— moved. how come? jeremy hunt is considered a safe pair of hands. hej considered a safe pair of hands. he has put in place the policies of rishi sunak and they liked rishi sunak. they gave him a lot of credence in the markets. the markets could potentially be afraid of who will be our next prime minister. but businesses like this drinks firm in sunderland have found the price instability hard to manage. for us clari and instability hard to manage. for us clarity and certainty _ instability hard to manage. for us clarity and certainty are _ instability hard to manage. for us clarity and certainty are the - instability hard to manage. for us| clarity and certainty are the things i think every business is struggling with. we have been through a cycle where we were getting a cost increase on raw materials every month and that needs to settle. idem; month an

he has— jeremy hunt's reappointment cabinet. ithink he has a— jeremy hunt's reappointment cabinet.ment cabinet. i think he has a decent fellow. he - i think he has a decent fellow. he is reviving a career and i wish him well. well, good luck, good luck. he has quite _ well, good luck, good luck. he has quite a _ well, good luck, good luck. he has quite a task— well, good luck, good luck. he has quite a task on his hands, i guess, to put— quite a task on his hands, i guess, to put things back in order. i to put things back in order. i can— to put things back in order. i can rememberwhen to put things back in order. i can remember when he was health secretary— i can remember when he was health secretary and — i can remember when he was health secretary and he _ i can remember when he was health secretary and he completely- i can remember when he was healthl secretary and he completely screwed up secretary and he completely screwed up then _ secretary and he completely screwed up then and — secretary and he completely screwed up then and so— secretary and he completely screwed up then

well, i think he's going to keep jeremy hunt and despite the fact the hunt has no background in finance. my gosh, he's really and demonstrated sure, footed nist in parliament and he reassured the markets very quickly. let me be clear. i didn't vote for jeremy hunt when he ran for the leadership. the conservative party is, is a views are not mine. if he'd been in a final to this round, i wouldn't have voted for him again. but my gosh, he's really had a successful start. and i think given the, the she a level of turbulence, the level of instability we've had rotating another chancellor seems mad to me. you were talking about the fact we've had 5 prime ministers in 6 years. that's true. if we change chancellor's will up had 5 chancellors in 5 months. i mean for heaven's sake, i think was time to stick with one. and of course, you know, you, you, you say that jeremy hunt and richey, scenic are stability. you might say personified. but all that job hunt did was reverse lives, trusses, and a quasi quad things, policies. they have yet to put forward a economic policies that the market has to r

another name is jeremy hunt, _ interesting conversation.e is jeremy hunt, the - interesting conversation. another name is jeremy hunt, the former| name isjeremy hunt, the former foreign secretary and leadership rival to borisjohnson. you are watching bbc news, the news from london is that britain's finance minister, kwasi kwarteng, has left the government after less than a month or about a month on the job. hejoined as liz month or about a month on the job. he joined as liz truss became finalist after boris johnson. they shared a finalist after borisjohnson. they shared a joint economic vision, but in the letter which he sent to the prime minister today, having on friday left abruptly from washington late on thursday evening on the last overnight flight out, said, you have asked me to stand aside as your chancellor, i have accepted. when you asked me to serve, i did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. he then goes on to say, as i've said many times i

jeremy hunt hogs the front page of the independent, above the banner, "hunt rips up pm's plans" and warnst conservative donors and business leaders are turning on liz truss. meanwhile, the sunday times has a quartet ofjeremy hunt snaps and argues that plotters are circling the wounded pm as hunt takes "full control". that was a little flavour of some of those front pages. hello to both of you. we will start off, i think, with the sunday times. annabel, could you for us, please?- could you for us, please? share. the are could you for us, please? share. they are focusing _ could you for us, please? share. they are focusing on _ could you for us, please? share. they are focusing on a _ could you for us, please? share. they are focusing on a jeremy i could you for us, please? share. - they are focusing on a jeremy hunt, they are focusing on a jeremy hunt, the recently appointed chancellor of the recently appointed chancellor of the ex and the way in which he has you turned on at the mini budget to such an extent... apart from the national insurance like that was introduced earlier this year,

we haven't heard from jeremy hunt yet. just to my right we are expecting him at any moment to arrive. the photographers are poised at the ready. this press conference from liz truss left more questions than it answered and you have to ask if the markets are going to be convinced by it. >> can liz truss keep her job? >> it seems like perhaps she will cling on but not for the right reasons. if she is replaced by rishi sunak and penny mordaunt as the times says the mps are planning to make happen, then even if there were a new leader, it would have such a deluded mandate that there would be massive pressure to call a general election. the polls suggest that labor would wipe out the tories. the tory party is the most successful political party in history because it can change its rules to change its leader like a snake shedding its skin, but it doesn't look like that's going to be what they choose to do right now because it would be like turkeys voting for christmas. >> what do we know about what jeremy hunt is likely to want

stepping in to try to step in— jeremy hunt's stepping in to try to step in and — jeremy hunt'sand stabilise the market, equally, she is in danger of losing those _ equally, she is in danger of losing those people who stood by her initially— those people who stood by her initially and, there is a really small— initially and, there is a really small island now of loyalty around liz truss _ small island now of loyalty around liz truss and that spells trouble not just — liz truss and that spells trouble not just for her liz truss and that spells trouble notjust for her up liz truss and that spells trouble not just for her up at the conservative party at large. the front page. _ conservative party at large. the front page, this _ conservative party at large. tie: front page, this can be toxic conservative party at large. ti9 front page, this can be toxic for the conservatives. yes front page, this can be toxic for the conservatives.— front page, this can be toxic for the conservatives. yes indeed and it also means — the conservatives. yes indeed and it also means that _ the conserva

we are expecting jeremy hunt to make even more u-turns on trussonomics. it seems to be dead in the chancellor but it does not do much to balance the books. she needs to find another 24 billion pounds worth of revenue graces and savings in terms of spending cuts. it looks like trussonomics is being turned into sunakonomics and leaves a wide open door for keir starmer. it leaves mps asking what is the point of having her at 10 downing, more are asking if we should take a new leader now or wait until near certain wipeout in 2024? they will have a close eye on the market today, but she is the "peno" prime minister in name only. francine: as she tries to deal with the immunity -- mutiny within the conservative party, where does this leave the boe? >> we heard from the bank of england confirming what we already knew, that the emergency intervention has come to an end. we're also seeing that boe rate pricing is at its lowest since the mini-budget, 5.630% is now the peak rate for may. this after andrew bailey spoke over the weekend underscoring his message that t

if you are jeremy hunt now, ou or so. if you are jeremy hunt now, you might _ or so.or so. if you are jeremy hunt now, you might worried looking over - or so. if you are jeremy hunt now, | you might worried looking over your shoulder and seeing rishi sunak marking your homework and saying, are you sure you want to do it like that? if picture was released earlier of the two of them looking very friendly and very businesslike in the cabinet room, over a cup of tea. but rishi sunak will of course want to play to his strength as prime minister is a former chancellor throughout the pandemic and having argued in the leadership contest that played out over the summer that actually cutting taxes at this point was not the right thing to do would —— and would've been inflationary. a lot of people saying he was right. the two men have taken broadly speaking a same approach the economy. keeping taxes where they are, not increasing spending, cutting it back in a lot of areas where possible, something they will be on the same page. dauid where possible, something they will be on th

jeremy hunt, has he done enough to stabilize the economic situation? bloomberg says he still has more to do. good morning. lizzy: good morning. he certainly did a lot in a day. he has managed to calm markets somewhat. he has plugged 32 billion pounds in public finances by taking away some of the stimulus the bank of england -- stimulus. the bank of england and treasury and less of a tug-of-war. but as you mentioned, the boe is still considering the delay to quantitative timing. but without the sugar rush, the recession risks are heightened. even though he nuked most of truss-onomics, he still has to pay what is called the more on risk premium for all that liz truss managed to do in three weeks. it means higher borrowing costs, our economists reckon to the tune of 10 billion pounds per year through 2025. one guest on bloomberg tv defined this as on steroids. in a sense he has to be, he has to be more fiscally disciplined to compensate and that means spending cuts. the labour party has already seized on the idea of austerity 2.0, and the appointment of r

let's listen to jeremy hunt.s the needs of fema formal -- >> the needs of the most vulnerable. moves were made to protect the budget when other budgets were cut. i want to be completely frank about the scale of the economic challenge we face. we have had short-term difficulties caused by the lack of the obr forecast alongside the many budget. there are inflationary pressures around the world. russia's unforgivable invasion of ukraine has caused food and energy prices to spike. when the government needs to change course, we will do so. that is what i have come to the house to announce today. in my first few days in the job, i held extensive discussions with the prime minister, cabinet, colleagues, the bank of england, the head of the debt office, treasury officials, and many others. the conclusion i have drawn from those conversations is we need to do more, more quickly, to give certainty to the markets about our fiscal plans and show through action and not just words that the united kingdom can and always will pa

jeremy hunt spent most of saturday with his treasury teams working on a formula. he might be able to tame the markets, but may not save the prime minister. andrew simmons al jazeera london. ah, this is al jazeera. let's get around that. now are the top stories present? she jin pink says, china must ensure hong kong is ruled by what he calls. patriots is opening the twice a decade. communist party congress in beijing. ye, once again warned, he would not rule out using force to bring taiwan under chinese control. she swung boylen suji that should resolving the tie. one question is a matter for the chinese a matter that must be resolved by the chinese. we will continue to strive for a peaceful reification with the greatest sincerity and utmost effort. but we will never promise to renounce the use of force and we reserved the option of taking all measures necessary. this is directed solely. i didn't appearance by outside, horses for russia, says 11 soldiers have been killed and 15 wooded. it is shooting at its southern border with ukraine. the defense ministry says 2

does jeremy want -- jeremy hunt have that long? lizzy: where is jeremy economically and geographically? we will have to wait for monday. if he doesn't make an attempt to look like he is carrying out the vision. the question will be laughed at. what point to have her at number 10 if she can't get her vision to the markets in the mp's is is it time for her to go? as she was repeatedly asked in that press conference. alix: we are seeing is slightly deeper curve. what kind of curve indicates more credibility. do we know that it's her yet? kristine: a lot of it will be featured on the long end of the curve, that 30 year sector. that was a key concern for the markets because the initial many budget kicked off a selloff about part of the curve and kicking off this whole ldi pensions crisis over here that we are still reeling from. a lot of the focus will be on that part of the curve, with yields coming down from the higher levels that we saw a couple of weeks ago. would potentially be a sign of credibility being restored in the public's pe

but decisions that face jeremy hunt ri . ht now. �* ., decisions that face jeremy hunt riaht now. �*these decisions now come at - well, won't there? sure, i think all these decisions now come at any l well, won't there? sure, i think all. these decisions now come at any cost because the markets have less trust and confidence in the government because there are so much uncertainty. i suppose the government can at least be reassured that the town is different. jeremy hunt went into parliament found to be more upfront with people that there will be at these trade—offs. it is a dramatic change of tone than when we saw this trust was elected. what happens when those traders are spelt out in a couple of months�* time? will the party back liz truss to stay on as leader? no markets will be watching this as well. is one thing to calm the markets, it is another to stabilise british politics right now and reassure voters that we saw from the polls this morning that trust in the government couldn�*t be lower. riff government couldn't be lower. of course, the question about more u—turns, more cho

the uk's new chancellor, jeremy hunt, will hold talks with the prime minister liz truss later, as theghts to salvage its economic credibility. speaking to the bbc, mr hunt warned some taxes will increase and all government departments will be expected to find additional savings. posting online today, the prime minister has said she's "going to do things differently" in her quest for economic growth, promising she will "always act in the national interest". let's talk more about this to our political correspondent peter saull. welcome to the studio. let's start first of all with the heart of jeremy hunt's message that nothing is off the table, that whatever was in the original budget proposals he now has a clean sheet and can do what he thinks is necessary. one of the things he appears to think is potentially at least cuts.- potentially at least cuts. that's ri . ht, potentially at least cuts. that's right. yeah. — potentially at least cuts. that's right, yeah, and _ potentially at least cuts. that's right, yeah, and another- potentially at least cuts. that's right, yeah, and another d

today, i have asked jeremy hunt to become the new chancellor.ment spending will be cut compared to what was expected. our public sector will become more efficient, to deliver world—class services for the british people, and spending will grow less rapidly than previously planned. it never rains, but it pours — this was the now former chancellor kwasi kwarteng making an early dash home from a meeting of finance ministers in washington last night. a long—haul flight, followed by the sack is how his friday went. should the prime minister go next, mr kwarteng? hello, good afternoon. the formalities look like this. in reply, liz truss wrote they shared the same vision and "i'm deeply sorry to lose you from the government.". jeremy hunt is a former health secretary and foreign secretary, and has tried to become leader himself twice. now, he's the fourth chancellor since july. politics has been on fast forward this autumn. it's five—and—a—half weeks since liz truss became prime minister. mr speaker, we're at- the beginning of a new era and as we contem

the and jeremy hunt at the top at number ten and number 11.ue, the former conservative leader talking yesterday about the death spiral of the conservative party, and months and years ahead of absolute decline, if not wipe—out, so i think, this is really serious. senior tories are engaged in this frantic campaign to stop the boris comeback, because they are very, very alarmed by it. and the decline in public service, schools, health, defence, that is the side story in the observer splash, and the people talks about schools crippled by costs of living crisis. whichever person gets the crown, whichever party wins the general election, we are in for some very, very tough times. this general election, we are in for some very, very tough times.— very, very tough times. this is the real world — very, very tough times. this is the real world for _ very, very tough times. this is the real world for the _ very, very tough times. this is the real world for the government. - real world for the government. actuatty — real world for the government. actually

massive — programme for government. jeremy hunt's massive u-turn _ programme for government. jeremy . hunt's massive u—turn yesterday seemed to quiet markets, makes people feel a bit more reassured. what can we expect today? well. people feel a bit more reassured. what can we expect today? well, i don't think — what can we expect today? well, i don't think we'll _ what can we expect today? well, i don't think we'll see _ what can we expect today? well, i don't think we'll see any _ what can we expect today? well, i don't think we'll see any more - don't think we'll see any more detailed policy changes for the time being. the chancellor today and confirming that pretty much all of the measures announced in the so—called mini budget at the end of last month by his predecessor, and hinting that they may well be further changes to come to things like pensions triple law, as it's called, which ensures that old age pensions rises in line with earnings or 2.5%, that could be up for discussion. spending on defence could be up for discussion as well, and other things that would be considered

jeremy hunt was jogging before dawn thought of breaking. any more u—turns? the answer was yes. breaking. mr hunt was performing the last rites on almost all of liz truss's plans — her programme for government dead. living hour by hour. this is what hand—to—mouth governing looks like. camera crews were called to the treasury, ministers so petrified by the pace of events, yanking big chunks of a massive announcement forward by a fortnight isn't enough. even leaving it to this afternoon was too late for them. there was a statement filmed just after 11 o'clock, too. no government can control markets, but every government can give certainty about the sustainability of public finances. and they're doing that byjunking pretty much everything liz truss said she stood for. we will reverse almost all the tax measures announced in the growth plan three weeks ago that have not started parliamentary legislation. cancelling a rise in national insurances and changes to stamp duty in england in northern ireland, the only bits held onto. the planned cut in income tax in england, wales and north

the new chancellor, jeremy hunt has been in talks with liz truss this afternoon — as they consider furtheres to the mini budget that had been the centrepiece of her economic plan. 48 hours into thejob, mr hunt has made clear nothing has been ruled out on taxes or spending. he also said the prime minister is in charge. some of her own mps are continuing to criticise her though, to call for changes to her team and question whether she can remain in office. here's our political correspondent ben wright. behind the doors of the prime minister's country retreat, liz truss met her chancellor — not unusual in normal times, but these are not. jeremy hunt has been sent in to urgently rewrite the government's economic plan. so who has the power now? really? i think it is important that when you talk about ditching things, the biggest element of that mini budget was the energy price guarantee. some tory mps think liz truss needs to go, but her chancellor had this warning to his party. when i talk to my constituents in south west surrey, what they want is stability, and the worst thing for that would

that new chancellor, jeremy hunt announced uterine plans on major plans including tax cuts and long—termupport for household energy bills. a fighterjet has crashed into a residential block killing at least four people in the apartment clock was set on fire. —— block. leaving china into a more aggressive direction and it follows the opening of the ruling party congress in beijing where he addressed the issue of taiwan, which china claims as part of its territory. hello and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are rachel cunliffe who's the senior associate editor at the new statesman, and eleanor langford, the political reporter for politics home. tomorrow's front pages, starting with... all of tomorrow's papers focus on the biggest u turn in british political history, �*let�*s start with, the ft focuses on one of the biggest u turns in recent british history and says "truss fights for survival as business chiefs and plotters pile on pressure." the government faces decisions of eye watering difficulty as he speaks economic stability. the guardi

i would argue that jeremy hunt, the chancellor, has already done that, but we also need a figurehead o continue as chancellor, but also be aligned with those principles of the uk's twin deficits on trade, borrowing, i only supported by international investors if they feel those checks and balances are in place and therefore the rhetoric you hear over the next few days from the leadership candidates and the one or two that emerge from the pack, is really very important for the ongoing stability of financial markets. �* . ~ markets. the bcc were talking about labour _ markets. the bcc were talking about labour and _ markets. the bcc were talking about labour and trade - markets. the bcc were talking about labour and trade and - markets. the bcc were talking | about labour and trade and the thing about hunt, looking at a £40 billion hole at a time of soaring inflation, how do we square the circle? will we see a recalibration for example of britain's ideas and policies towards europe?— britain's ideas and policies towards euroe? , ., towards europe? there is enough water that has _ toward

he has been replaced by jeremy hunt who becomes the fourth chancellor in one year. >> turning up forther u-turn. the prime minister invited reporters to downing street and scrapped one of her key policies that sheas championed for months. >> it is clear that parts of our many budget went further and now has to change. i have therefore decided to keep the increase in corporate tax that was prescribed by the previous government. this will raise 1billion pounds per year. >> attacks policy ditched and her chancellor also. >> admit the chancellor earlier today. i was incredible he sorry to lose him. he is a great friend and he shares my vision to set this country on the path to greatness. today i have asked jeremy hunt to become the new chancellor. >> government spending will be cut compared to what was expected. >> are public sector will become more efficient to liver -- deliver world-class services for the british people and spending will increase less rapidly than receipt planned. >> it never rains but it pours. this was the former cncellor making a -- home. >> should the prime ministe

ya: i think the fact that jeremy hunt i think the fact thatjeremy hunt has felt this needed to bringhe market response and about the state of the uk finances. as you say, you have jeremy hunt meeting the prime minister yesterday, thrashing out various agreements, jeremy hunt is leading that is part of the agreement when he accepted the role. if we are heading to tax rises, spending cuts, those are all potentially politically unpopular measures, also lots of liz truss's backers, they wanted mass tax cuts. it's a question of what helps things in the short term and what is it sustainable in the medium. what in the short term and what is it sustainable in the medium. what does that look like — sustainable in the medium. what does that look like for _ sustainable in the medium. what does that look like for liz _ sustainable in the medium. what does that look like for liz truss, _ sustainable in the medium. what does that look like for liz truss, what - that look like for liz truss, what about her time? i that look like for liz truss, what about her time?— that look like for liz truss, wha

jeremy hunt will stay as the finance minister.will retain the foreign secretary post and home secretary. stability and confidence it seems to replace turbulence and division. al jazeera, downing street. >> rishi sunak has spoken to ukraine's president, volodymyr zelenskyy, and promised his steadfast support. he then held a telephone call with u.s. president joe biden. we have more from downing street on his first day as prime minister. reporter: he spent most of the day putting people into cabinet positions, jeremy hunt still stays as the finance minister. that was a very clear message from rishi sunak. he wanted to have stability. it was important to him to send a message to the markets. the stay calm. he realizes the real economic problems facing britain and destabilizing the markets would not be a good thing to do. which is why jeremy hunt stays in his position. but there will be a change for the interior minister. rishi sunak wants a government full of integrity, he is now appointed three people to his cabinet who have now bee

jeremy hunt remains as chancellor.six days later, she is back. as home secretary. inside number 10, the difficult business of governing is under way. chris mason, bbc news, at westminster. as we've been hearing, rishi sunak�*s cabinet is taking shape. let's have a closer look at who is in it. of the three main offices of state, two remain the same — jeremy hunt is chancellor, and james cleverly stays at the foreign office. suella braverman is home secretary — she resigned only last week after breaching ministerial rules on using a personal email address for official documents. elsewhere in the cabinet, dominic raab has been reappointed justice secretary and deputy prime minister — positions he held under borisjohnson, and ben wallace keeps his job as defence secretary moments ago it was announced that michael gove returns to front line politics to the job he held michael gove returns to front line politics to thejob he held under borisjohnson, levelling up secretary. let's get more from chris now. what do you make of t

what does jeremy hunt what doesjeremy hunt now have to do?as 100% going to say, the extraction of him across the atlantic by the prime minister and his firing. we are talking about this corporation tax change and u—turn. i don't think that quite captures the change because what we understand about corporation that when liz truss, the prime minister, was trying to win the conservative party leadership and creating the mini budget and during the conservative party conference, she did not believe that rises in the rate of corporation tax raised any money because it hits the economy. it was anti—growth, to use her phrase. now, in a crisis, in an emergency, to persuade the markets, she says that it will raise £67 billion over the next five years. that strikes me notjust as a u—turn but a near capitulation of what has become known as liz truss economics. now, forjeremy hunt, the issue is notjust that there now, forjeremy hunt, the issue is not just that there is damage from that that he wants to reverse, but there may be scars that last much longer

jeremy hunt has just made the statement. let's have a listen. 17 and 2021. the new vent, free shopping scheme for non u. k. visitors or the fries on alcohol duty rates. secondly, the government's current plan is to cut the basic rate of income, taxed 19 percent from april 2023. it is a deeply held conservative value, a value that i share, that people should keep more of the money they earn. but at a time when markets are rightly demanding commitments to sustainable public finances, it is not right to borrow to fund this tax cut. so i've decided that the basic rate of income tax will remain at 20 percent and it will do so indefinitely until economic circumstances allow for it to be kept. taken together with a decision not to cut corporation tax and restoring the top rate of income tax, the measures i've announced to day will raise every year around $32000000000.00 pounds. finally, the biggest single expense in the growth plan was the energy price guarantee. this is a landmark policy supporting millions of people through a difficult winter and today i want to

look at jeremy hunt's track record. remy hunt. confidence on either withjeremy hunt. we need a new budget. it's hurting people. they didn't even get the energy support package right for businesses, so i'm afraid this whole policy is wrong. we need to make sure that britain's tax position is credible in the markets so interest rates will go up so high. that's why the democrats were the first party to call for when full tax, so we have the money to provide the help for people —— windfall tax. sir have the money to provide the help for people -- windfall tax.- for people -- windfall tax. sir ed davey there- _ for people -- windfall tax. sir ed davey there. tom _ for people -- windfall tax. sir ed davey there. tom pope - for people -- windfall tax. sir ed davey there. tom pope as - for people -- windfall tax. sir ed davey there. tom pope as the i for people -- windfall tax. sir ed - davey there. tom pope as the deputy chief economist at the institute for government. ijust want chief economist at the institute for government.

we have to wait to see what jeremy hunt is going to do, but he's made it very, very clear. there's probably possibly going to be a rise in texas. we're going to reverse the changing corporation tax. we've already seen that change in the $45.00 p tax rate arcs to see other changes to which will be to the liking of the market. i didn't date to m p, 's entity, britain as well. so now isn't the time to hold a general election? well, let's bring in and pitiful. now, speaking of the economy, how wrong did they get it and how wrong did the tories get it in terms of their, their economic model. so thank you very much, but the point is this the top notch the toys and they want to clean up the political fee and how ever ruthless say all about changing up the mess. it's been a politically, it's much, much harder to do anything about the deep scars in the british economy that have been, that are a consequence of this roll policy making this wreck this i have to say, i'm holding it by the, the image of the very casual chance the strolling down the street and flinging a good, i haven't g

jeremy hunt has been sent in to urgently rewrite the government's economic strategy.has the power now? the prime minister is in charge. really? yeah, i think it is important... some tory mps think liz truss needs to go. her chancellor had this warning to his party. when i talk to my constituents in south west surrey, what they want is stability, and the worst thing for that would be more political instability at the top, another protracted leadership campaign. i think that's the last thing that people really want to happen. but some of mr hunt's colleagues are still seething about the government's now abandoned plan for unfunded tax cuts. over the past few weeks the government has looked like libertarianjihadists and treated the whole country as kind of laboratory mice in which to carry out ultra, ultra free—market experiments. i wasn't the only one that thought it was a mistake. even the us president has a view about what's been going on here. the idea of cutting taxes on the super wealthy at a time when... anyway, ijust think, i disagree with the policy but it's up

jeremy hunt has been putting together a package that would have reassuring to the markets.hat we must do now is anything which signals to the markets more chaos, instability ahead. then the government has not to outline a clear growth plan. liz truss' growth plan was based on the single proposition to cut taxes by borrowing and magically create growth. it does not matter whether that is critical anymore because the markets are not going to allow it. there needs to be an alternative growth plan. how does britain earn its living in a post-brexit crisis? we have got to be prepared to take a few risks. we have got to articulate a role for the financial services industry, which is this country's most important industry, and that may mean being prepared to take some calculated risks as we put britain in the lead in areas of new technology, training, products, but i do not think britain has the option of sitting back, relaxing, and hoping that the world will deliver a living. tom: we have reminders from the data that came through this morning around retail sales and the additional

jeremy hunt starts his first full week as the uk's new chancellor. we'll examine some of the main challenges he faces. xijinping looks set for anotherfive years as china's president. we take a look at what that means for the world's second biggest economy. the row between the us and opec plus continues, with more of the cartel stating the recent oil production cut was done for economic and not political reasons. and losing its rhythm. we'll tell you why high energy prices may be pulling the plug on the uk's music industry. let's start here in the uk where the new chancellor has been holding crunch talks with the prime minister on sunday to thrash out plans on tax and spending. jeremy hunt says his focus is on growth underpinned by stability. the value of the pound has gone up against the dollar in early trading today in asia. we will look at the market numbers in a moment because the new chancellor has the tough task of restoring economic credibility in the financial markets. our international trade correspondent dharshini david explains some of the

wallace in post, keeping jeremy hunt imosed. , ., , wallace in post, keeping jeremy hunt imosed. ,, ,ere you see the top “obs -- and james _ imposed. there you see the top “obs -- and james cleverly. i imposed. there you see the top “obs -- and james cleverly. rishi h imposed. there you see the topjobs -- and james cleverly. rishi sunak. —— and james cleverly. rishi sunak identified and his speech, number one priority, economic stability. so what do we see there? we seejeremy hunt stays as chancellor, no surprise there. he is working on that financial plan that he is going to unveil on monday. all seems to be on track there. but clearly, rishi sunak doesn't want any disruption there, he wants to send the message that he is getting on top of things, tough decisions will have to be made. . we've seen others come in that we don't know yet. we have suella braverman reappointed as home secretary. she lost thatjob a week ago. because she had been missed handling official documents. actually, that sort of partly triggers the end of liz truss. yes. that was part _ triggers the end of liz trus