this is bbc news — these are the latest headlines in the uk and around the world. the chancellor kwasi kwarteng cuts short a visit to the us to return to downing street for urgent talks over his mini—budget. it comes amid mounting speculation that the government may be about to roll back its tax cut plans following turmoil in the markets. my advice to the chancellor would firmly he, do it, do it now. make sure it's something significant, notjust nibbling at the edges but something that's going to be firm, bold and convincing, but do it as soon as possible. a month of protests over the death of mahsa amini in iran — we'll look at what effect the popular movement is having in the islamic republic. communities in three australian states are ordered

the leaders of china's ruling communist party gather for a summit in which ruler xijinping is expected to secure a historic third term in office. communities in three australian states are ordered to evacuate as torrential rain brings major flooding. and — the flying scotsman — the first steam engine to hit 100 miles an hour — celebrates a century on the tracks. hello and welcome if you're watching in the uk or around the world. britain's chancellor, kwasi kwarteng, has cut short his visit to the us, to hold urgent talks with the prime minister, as pressure mounts on the government over its mini—budget. mr kwarteng had been in washington for a meeting of global finance ministers. he'd originally been expected

to return back to london on saturday. speaking to the bbc yesterday before the change of plans, mr kwarteng said he believes "100%" that he will still be a chancellor — and liz truss will still be prime minister — in a month's time. later today, the chancellor and prime minister are expected to hold talks with conservative mps. some think the government's tax cutting plans should be reversed, while others believe the help with energy bills should be more targeted. there's even talk of whether both the chancellor and prime minister should be replaced. it comes as the bank of england plans to stop its emergency bond—buying scheme later today, as part of the measures brought in to try and reassure markets. the bank has been buying bonds — a form of debt the government uses to raise money it needs for spending — to try to stabilise their price, and prevent a sell—off that could put some pension funds invested in them, at risk of collapse. the pound has risen against the dollar this morning, as speculation mounts over a possible government u—turn on parts of the mini—budget. with the latest,

here's frances read. it was a late departure from the us for the chancellor last night as he headed to the airport, returning home for talks with the prime minister of the government's controversial mini—budget. kwasi kwarteng had been in washington, dc for a meeting of global finance ministers. speaking before it was known he'd be returning early, he insisted he was sticking to his plans. our position hasn't changed. i will come up with the medium term fiscal plan on 31st october as i said earlier in the week, and there'll be more detail there. and you will be chancellor and liz truss will be secretary of state this time next month? absolutely, 100%. i'm not going anywhere. closer to home behind closed doors in downing street, everything is back on the table. billions of pounds of borrowing to fund tax cuts and energy bill support were announced only weeks ago. some of that is now in doubt as the government scramble to get

the markets and their own mps back onside. here in westminster, the mood among tory mps is one of anger. many privately want measures in the budget changed. some want liz truss and the chancellor to be replaced completely, while others believe they should be given the chance to rectify the situation. the prime minister and the chancellor have to get a grip on this. there have been mistakes. they've got to work this out to settle the markets, to settle the economy, and to get things back up and running again, but no one is treating this trivially. this is the most serious thing facing our country right now and we've got to respond and deal with it right now. as it stands, the chancellor will spell out how he will pay for the government's package of tax cuts in a statement on october 31st, but many don't think it can wait until the end of the month. a u—turn on at least some aspects of the budget now seems inevitable. frances read, bbc news. as news emerged that the chancellor is returning to the uk early, our economics editor faisal

islam has sent us this report from washington. the chancellor of the exchequer, kwasi kwarteng, has notjust left the british ambassador's residence here in washington, dc, he has left the entirety of the international monetary fund's annual meetings and gone home a day early, flying back home to london unexpectedly. why? because his team say he wants to consult with senior members of government, basically the prime minister and his fellow mps, about that mini—budget, the mini—budget that isn'tjust going down badly in his own party, it's also gone down badly in the financial markets. in fact, they are now convinced there's going to be a major u—turn, that a big swathe of that mini—budget will never see the light of day. that is now what kwasi kwarteng has to establish, has to sort out, and quickly. why? because the bank of england, which was helping support

with emergency funding those markets of government borrowing, that funding is being pulled at the end of the day. so really, they have a weekend to sort out what they are going to do. are they going to u—turn? how much are they going to u—turn on? or are they going to face the markets next week? these are very big stakes, a dramatic return to london for the chancellor of the exchequer. the conservative mp mel stride, who is also chair of the treasury select committee says there's an expectation in the markets that there will be a significant change of policy. the idea that the chancellor is going to come forward with something significant, a significant row back, is now priced into the market, so we have seen a slight stabilisation around gilt yields and the pound, and i suspect that a lot of that is because there is now a market expectation that something is going to happen. the problem therefore becomes,

if it doesn't happen, then the markets may simply have an adverse reaction to that. so there is a strong downside to not doing anything, as well as a strong upside to doing something. so my advice to the chancellor would firmly be, do it now. make sure it's something significant, notjust nibbling at the edges, but something that is going to be firm, bold and convincing, but do it as soon as possible. we've been joined by the independent�*s chief political commentator, john rentoul. firm, bold and convincing. what do you think that fellow conservative mps need to hearfrom you think that fellow conservative mps need to hear from the you think that fellow conservative mps need to hearfrom the prime minister and chancellor for them both to hold onto theirjobs? i think mel stride is actually understating the seriousness of the government's financial position, because if you look at what institute for fiscal studies has said, an independent think—tank putting itself in the position of the office for budget responsibility, which has to sign off kwasi kwarteng's statement on

halloween, they say that even if you reverse all the tax cuts that were in the mini budget on the 23rd of september, that wouldn't be enough to stabilise the national debt. so the chancellor is in a very serious position. he is going to have to raise corporation tax next year, as planned, but he will have to go much further than that. i think the basic rate cut in income tax will have to go and a lot else besides. so there is a lot of work to be done this weekend. is a lot of work to be done this weekend-— is a lot of work to be done this weekend. �* ., a , ., weekend. and how quickly do the markets need _ weekend. and how quickly do the markets need to _ weekend. and how quickly do the markets need to hear— weekend. and how quickly do the | markets need to hear something, weekend. and how quickly do the i markets need to hear something, in your view? markets need to hear something, in our view? ~ �* ., ., , your view? well, i'm not an expert on how the — your view? well, i'm not an expert on how the markets _ your view? well, i'm not an expert on how the markets will— your view? well, i'm not an expert on how the markets will work, - your view? well, i'm not an expert on how the markets will work, but| your view? well, i'm not an expert i on how the markets will work, but as faisal was pointing out that, the bank of england's support for the gilts market expires today was that so we will find out on monday what the markets make of whatever the government has announced by then. i presume the government is going to have to announce something today and

possibly over the weekend as well. you suggest in your latest article that we might be seeing a return of rishi sunak. what makes you say that? ~ rishi sunak. what makes you say that? . , , rishi sunak. what makes you say that? ~ , , ., , rishi sunak. what makes you say that? , , , that? well, because he has been roved that? well, because he has been proved completely _ that? well, because he has been proved completely right - that? well, because he has been proved completely right on - proved completely right on everything he said during the tory leadership campaign, and liz truss has been forced to accept that, or is currently in the process of accepting that. she is going to end “p accepting that. she is going to end up putting up taxes by more than rishi sunak would have done because, having spooked the markets so badly, she then has to overcompensate, which is a disaster. the conservative party will have to decide at some point that, given that she is in preventing rishi sunak�*s policies but doesn't believe in them, they might as well get rishi sunak in to administer them. but what would that mean for the party, to get rid of another prime ministerjust a month in the job? how would they go about that? i don't think it's going to happen very quickly because, as you

suggest, there would be a civil war in the conservative party. the grassroots members would hate it, because it would mean mps overriding their choice. but that is why there is a lot of talk about rishi sunak and penny mordaunt perhaps getting together, two of the three last candidates in the leadership ballot who clearly have a large majority of support among mps. the question is how do they persuade party members to go along with that without tearing the party to bits? the tory civil war is now in such a terrible state, and the government is in such a terrible state that almost anything seems better than carrying on with things as they are. fire anything seems better than carrying on with things as they are.— on with things as they are. are you su: caestin on with things as they are. are you suggesting that — on with things as they are. are you suggesting that it _ on with things as they are. are you suggesting that it is _ on with things as they are. are you suggesting that it is terminal - on with things as they are. are you suggesting that it is terminal for i suggesting that it is terminal for the prime minister and the chancellor? can depositions be salvaged all?—

chancellor? can depositions be salvaged all? no, i don't think of their positions _ salvaged all? no, i don't think of their positions can _ salvaged all? no, i don't think of their positions can be _ salvaged all? no, i don't think of their positions can be salvaged. l their positions can be salvaged. things can change in politics, but she is up against the realities of the markets, and markets are not some woke socialists who have it in for the prime minister's ideology. she is a believer in free markets, and as margaret thatcher said, you can't buck the market. she has tried and failed to buck the market and i think the damage to her reputation and the government's reputation is terminal, she has to go. john rentoul. _ terminal, she has to go. john rentoul, thank— terminal, she has to go. john rentoul, thank you. - earlier, former liberal democrat pensions minister, sir steve webb, was critical of the timing of the bank of england's timining to stop its emergency bond—buying scheme later today. i think they should never have time limited it as far ahead of the fiscal statement as they did, because there was always going to be a fortnight�*s window, so it was a mistake to cut it short today. i think they will get away with it.

ironically, i say that because all the speculation about the budget u—turn has taken the pressure off gilt yields, meaning there is more capacity for things to go up today and for pension schemes to cope. so ironically, i think the bank's gamble will have worked. let's get the thoughts of louise cooper, senior lecturer in finance at kingston university business school. you have to remember, the bank of england is supposed to be politically independent. the role of the bank of england is not to be there to bail out the government. it wanted to put interest rates up and reverse quantitative easing because we have rampant inflation. when you have rampant inflation, you should be putting interest rates up and slowing the economy. it was forced to do a u—turn because of the chaos in gilts markets, in government

borrowing markets, but it is not its job to bail out the government. it is very important that central banks are independent. and by engaging in quantitative easing, it effectively bails the government out because by doing qe, bails the government out because by doing oe, it buys government debt and brings down the interest rates that the government has to pay on its debt. so it is, by doing oe, bailing out the government. in some ways, this was incredibly bold and brave by the bank of england to say no, we are stopping on friday. but it is also reasserting its political independence. it is saying categorically, we only came into the gilt markets, the government borrowing markets, because there was a short—term problem. if the markets don't like what the government is doing, it is not ourjob to sort that out. so it's a bold, brave move

by andrew bailey, and many central bankers all over the world and in washington at the imf will be celebrating that, because the importance is to have a central bank thatis importance is to have a central bank that is not controlled by politicians.— that is not controlled by oliticians. ~ ., ., politicians. the imf managing director said _ politicians. the imf managing director said at _ politicians. the imf managing director said at this _ politicians. the imf managing director said at this meeting l politicians. the imf managing i director said at this meeting that kwasi kwarteng has left early about the importance of policy coherence. he said kwarteng and bailey, the governor of the bank of england, need to communicate policy clearly and it should not be contradictory. the implication is that they have failed in that.— failed in that. one of the criticisms _ failed in that. one of the criticisms of _ failed in that. one of the criticisms of the - failed in that. one of the l criticisms of the chancellor failed in that. one of the - criticisms of the chancellor from the financial city is very poor communication. here we had yesterday, the market is moving because whitehall is saying there is going to be a u—turn on the mini budget. at the same time, we have got the chancellor in america saying nothing is changing. that is a perfect example of truly appalling

communication. having said all of this, the bigger issue is that for the last 15 years since the global financial crisis, we have had record low interest rates, almost nothing. and politicians have been able to borrow and borrow and spend and spend and not have to raise taxes because it has cost them pretty much nothing to do so, thanks to central banks. the big problem notjust for the uk government, but for governments all over the world is that that is coming to an end and therefore, funding of their spending plans is becoming much more difficult. so politicians all over the world will be looking at the uk and thinking, there is a lesson to be learnt. the uk is currently the canary in the mine.— be learnt. the uk is currently the canary in the mine. louise cooper, thank yom — up to 6,000 royal mail workers are facing redundancy by next

august. the postal company is blaming ongoing strike action and rising losses at the business. it says it's begun notifying workers of its plan, which aims to reduce its overall headcount by a total of 10,000. royal mail also said it expects its full—year losses to hit £350m. the company currently employs 140,000 people. our business correspondent marc ashdown has more on this. this is a trading update today. they have delivered some bleak news. the plan is to cut between 5000 to 6000 jobs in the nearfuture. in total, they need to lose 10,000, but they are confident that 4000 of those could be from what you would call natural wastage, people leaving or retiring and not replacing them. they are blaming this partly on strike action, but they are also shifting their business model, trying to move from letters to parcel delivery. at the moment, that's not working as they were hoping. staff have of course been on a series of strikes. they've had six days of strike action this year, the

most recent yesterday. they have another two planned for this month. they've been offered a pay deal of 5.5%. that is a 2% wage rise, but 3.5% of that is linked to changes in working practices. for example, royal mail want to see sunday deliveries being mandatory now rather than voluntary. the communication workers union blames gross mismanagement for all of this. they say it is a wholesale levelling down of the terms, pay and conditions of postal workers and they are turning royal mail into a gig economy—style parcel courier. now let's have a quick chat about the markets, which is something you are watching closely. they've rallied today on the expectation that there is going to be some kind of row back from the government. take us through what is happening and what you expect to happen in the coming weeks? the most interesting thing is the bank stopping buying these bonds. they had to step in with a drastic action a couple of

weeks ago to buy up government bonds, these iou s the government issues to borrow money. the problem was, there was concern about pension funds and the idea was to stabilise those. the bank offered to buy £65 million worth of bonds but they only bought 17.8 billion pounds' worth. there's a feeling that things have stabilised. the pound feels like it has stabilised, but we are in for a difficult fortnight now. they are stopping the support, but we have two weeks into the chancellor in theory lays out his economic plan and the other side of this equation, the supply side reforms about how we have these tax cuts. they are pricing in on a u—turn, so the markets are starting to recover. city elders say the problem will be now if there is no u—turn. things are fairly stable at the moment, but all eyes are on the government to lay out a road map out of this problem, which many feel is

of their own doing. ian russell, the father of molly russell, who died after viewing suicide content online, has urged social media companies not to "drag their feet waiting for legislation and regulation". the coroner at the inquest into the death of molly has written to the government and tech companies, outlining changes he believes would make children safer online. the 14—year—old took her own life in 2017, after being exposed to harmful material about suicide, depression and self media. instagram and pinterest have to respond within two months to explain what action they've taken. in the past few minutes, the senior coroner has recommended that the government to consider reviewing the provision of intellect platform to children with reference to harmful online content, including suggesting separate platforms for adults and children. andrew walker also suggested the government should look at verification of age before joining the platform, provision of age—specific content, the use of algorithms to provide content and parental or guardian or carer

control. china is preparing for this weekend's meeting of the ruling communist party leadership — at which president xi jinping is expected to secure an historic third term in office. there have been some small protests against mr xi's policy on covid — which has seen millions of people forced to remain indoors to stop the coronavirus spreading. they are reported to have taken place at this bridge in beijing — but all banners have been removed, and any online mentions of the gatherings are being taken down by china's censors. we can talk now to professor kerry brown, director of the lau china institute at king's college, london and a former senior british diplomat in beijing. could you explain about the communist party congress, what is decided there and how significant this weekend is?— decided there and how significant this weekend is? these are events that are held _ this weekend is? these are events that are held every _ this weekend is? these are events that are held every five _ this weekend is? these are events that are held every five years, - this weekend is? these are events that are held every five years, or. that are held every five years, or have been in the last 41 years. they are the key moments when leadership changes are made or reaffirmed, and

when big policy or policy affirmations beaches are made. they are all pre—decided, so everything is going to happen in this congress thatis is going to happen in this congress that is coming up is already sorted out. it is only the very few people know the outcomes. it will be an act of the party reaffirming and underlining what it is doing and the pathitis underlining what it is doing and the path it is taking. it is expected that xi jinping will be reappointed. it would be astonishing if he isn't, despite those very small protests. it is likely that he will make a long speech at the congress in which he will reaffirm the party's commitments to its current path. he might make some indications about future things, but this is definitely about reaffirming, not innovation. �* definitely about reaffirming, not innovation-— definitely about reaffirming, not innovation. �* ., , ., ., innovation. and what is it going to mean for the _ innovation. and what is it going to mean for the country, _ innovation. and what is it going to mean for the country, this - innovation. and what is it going to mean for the country, this historic third term for xi jinping?

mean for the country, this historic third term for xijinping? it mean for the country, this historic third term for xi jinping? it means that the country _ third term for xi jinping? it means that the country continues - third term for xi jinping? it means that the country continues to - that the country continues to believe it is on the path to being a great and strong nation and might be the world's top economy in the next few years. it means that populist nationalism that has been more and more dominant under xi jinping nationalism that has been more and more dominant under xijinping is going to be the continuing default. that means china is continuing to be confident, orare that means china is continuing to be confident, or are some people see it, very assertive, a china that will not want to back down over issues concerning taiwan and china that will feel it is a central power in the global system and wants its own influence.— own influence. how much of an autocrat is _ own influence. how much of an autocrat is he? _ own influence. how much of an autocrat is he? does _ own influence. how much of an autocrat is he? does he - own influence. how much of an | autocrat is he? does he consult own influence. how much of an i autocrat is he? does he consult of the party members, or is power ultimately in his hands? the communist— ultimately in his hands? the communist party _ ultimately in his hands? the communist party of - ultimately in his hands? iie: communist party of china, ultimately in his hands? tie: communist party of china, which ultimately in his hands? ti2 communist party of china, which he is the leader of, is 95 million

members strong. it is the thing that runs the whole show, and one man can't run china. it is very complicated. his leadership is a thing that has been created by a bunch of different networks. it is a collective kind of invention. he has been good as a communicator, at least in the chinese system. he is a confident leader and a man of faith, he believes in the mission to create a strong china. so he has played the role well, but we shouldn't forget that his power doesn't mean anything without the communist party architecture around it. and the communist party is an extraordinary, organic entity that has links deep into every area of the country. and that of course is going to stay there long after xi jinping that of course is going to stay there long after xijinping is no longer leader or even around. find longer leader or even around. and what about — longer leader or even around. and what about the _ longer leader or even around. and

what about the man himself and his geopolitical allies and his ambitions? where does that go from here, his support of russia, the tensions with taiwan, where does all that lead to?— that lead to? russia is not a natural ally _ that lead to? russia is not a natural ally to _ that lead to? russia is not a natural ally to china, - that lead to? russia is not a natural ally to china, but i that lead to? russia is not a i natural ally to china, but china is definitely not allied to the american led west. so it is clear, and the pandemic has reinforced that. we have a world where it is those who have sanctioned russia and those who have sanctioned russia and those that haven't, in a way. that is the new world. about 140 country did not sanction russia because of its invasion of ukraine. that means most of the middle east, all of africa, all of latin america and many other asian countries, those countries are allies of china in as they are pragmatic and transactional. they see the value of dealing with china. a lot of them have their biggest trading relationship with china and they are

not really willing to make a big decision on whether we stick with america or china. they believe in a pragmatic worldview. for the west, it is more difficult because china's dominance is taking more attention and time and it is complex. we have and time and it is complex. we have a dual track world rather than a singular track world that we had in more recent history.— singular track world that we had in more recent history. professor kerry brown, more recent history. professor kerry brown. thank _ more recent history. professor kerry brown, thank you. _ people who rely on home carers are being left without vital support as a result of high fuel prices, according to the homecare association. the body, which represents uk care providers, says staff are being forced to leave the profession because they cannot afford to drive to their patients — and employers can't afford to raise their salaries. our reporter alice cuddy has been to meet one woman whose care support was unexpectedly withdrawn. morning. i'm really sorry. i thought the social workers had been in touch to let you know that our care package with you ended last night. sadly, i don't have any

clients in your area, and staff are complaining about fuel costs. natalie has been living without professional care support for over five months. so it's really, really frustrating. we've been constantly on the phone to social services saying, "what's going on? "can we have some help, please?" complications in pregnancy have left her unable to walk, and with a range of health conditions. her husband jason now has to care for her, as well as looking after their young son. idid it! i feel like i'm trapped in this little hole. i have to rely on my husband to do everything for me. and that's not what i wanted for the kids. this fuel price hike, it needs to be sorted. natalie is not the only person whose

care has been affected by high fuel prices. the shortage of home care workers is adversely affecting everybody that needs help. the high fuel costs are just making that situation even worse. it's really sad to hear natalie's story, and we're really sorry that she has experienced that and herfamily. care workers, they go to work because they want to improve lives. they love what they do. they want to make a difference. and it breaks their hearts not to be able to. people need care. it's so important. natalie's former care agency said it was mortified by her situation. shropshire council said they're experiencing a shortage of carers, and the increased cost of living, including fuel prices, adds to this very challenging position. they added...

since filming, natalie's case has been reassessed, and she has been told that her care should soon resume. but she worries about those still waiting for support. i have a family, but there are a lot of people that don't have families. their carers are the only people that they see that day. love you. alice cuddy, bbc news. a post—mortem examination is expected to take place today on the human remains found in the murder investigation of leah croucher. yesterday, leah's family visited the house where her possessions and the remains were found and laid flowers at a nearby memorial. police say the forensic examinations could take weeks. between 2000 and 2014, more than 700 post office branch managers in the uk were accused of theft, fraud and false accounting. but they say it was actually faulty accounting software developed by a british subsidiary ofjapan's fujitsu — which made it look as though money was missing from their branches.

later today, fujitsu will give evidence for the first time at a public inquiry that's taking place in london. the bbc�*s mariko oi has more. it's been dubbed one of the most widespread miscarriages ofjustice in uk history, hundreds of post office managers wrongly convicted when money went missing in their accounts. they say faulty accounting software developed by a uk subsidiary of japan's fujitsu was to blame. but in its home market, hardly anyone, even a former president whom we spoke to, has heard of the scandal. this may be partly because after fujitsu's massive expansion overseas, it's claimed that japanese bosses didn't get too involved in the day—to—day operations of their foreign subsidiaries. translation: there was no strong governance in fujitsu headquarters. for things like management and software development services, operations were kept separate, so the local way of doing business continued.

fujitsu is one of japan's biggest employers in it, and among its most respected brand overseas. the dna of fujitsu's success can be traced back to the �*70s, when the japanese government was trying to counter the dominance of america's ibm. their strategy was to eliminate competition at home betweenjapanese companies like fujitsu, hitachi, toshiba, mitsubishi and so on, and instead organise them into three giant alliances with the might of the government behind them to pit all of japanese tech against ibm. but despite its size, some argue the companies longer innovative. their unique advantage is the relationship with the government. without that, they are not competitive at all. if this is a really open, free market, they should be eliminated 20 years ago. in the uk, fujitsu is one of the government's top five it contractors. the government tends to go for a small number

of very large contracts. that favoured very large suppliers, often international firms like fujitsu. fujitsu officials in tokyo declined our interview request, saying that it's a matter for its uk subsidiary. fujitsu uk has said it has been cooperating with the current inquiry and is committed to providing the fullest and most transparent information. as the company comes under scrutiny in the wake of the post office scandal, the question will be what the challenges facing it globally will mean for its future. the us congressional committee investigating the storming of the capitol building last year has voted unanimously to subpoena the former president donald trump. the vote came at the end of a session in which the committee presented taped evidence from two of donald trump's closest supporters, steve bannon and roger stone,

who were openly talking about stealing the election before the vote had even been counted. our north america editor sarah smith has this report. as a violent mob stormed the capitol trying to stop congress confirming confirming thejoe biden as president, elected members were rushed to safety, shown here on this previously unseen footage. at the same time, according to witnesses, donald trump was watching the violence on tv from inside the white house and refusing to tell his supporters to back down. they said somebody was shot. it's just horrendous and all at the instigation of the president of the united states. the committee has heard the violence was inflamed by a trump tweet accusing his vice president, mike pence, of cowardice for not helping him overturn the election.

the impact of that tweet was foreseeable and predictable. it further inflamed the mob and provoked them to even greater violence. the vice president only just escaped the mob, and then worked with democrats to get congress reconvened. the committee say donald trump demonstrated he did have control over this violent crowd when he eventually told his supporters to go home. he says go home. after months of investigation, this committee believes it has shown that what happened on january the 6th was deliberately orchestrated by donald trump himself as he tried illegally to cling onto power. we are obligated to seek answers directly from the man who set this all in motion, and every american is entitled to those answers, so we can act now to protect our republic. so, in a dramatic twist, the committee have voted to subpoena donald trump himself.

let's return to our top story. britain's chancellor kwasi kwarteng has cut short his visit to the us to hold urgent talks with the prime minister, as pressure mounts on the government over its mini budget. let's speak to geri scott — the times political reporter. thank you forjoining us. what are you hearing from conservative mps on the thank you forjoining us. what are you hearing from conservative mps on the ground thank you forjoining us. what are you hearing from conservative mps on the ground about thank you forjoining us. what are you hearing from conservative mps on the ground about what thank you forjoining us. what are you hearing from conservative mps on the ground about what they thank you forjoining us. what are you hearing from conservative mps on the ground about what they want thank you forjoining us. what are you hearing from conservative mps on the ground about what they want to hear from the chancellor and prime minister now?— minister now? they want to hear something _ minister now? they want to hear something and — minister now? they want to hear something and quickly, - minister now? they want to hear something and quickly, that i minister now? they want to hear something and quickly, that is i minister now? they want to hear. something and quickly, that is the moment. we are going to wait another two weeks until the 31st of october to find out what the medium—term plan is, but many are saying that is too long to wait, that something needs to be said sooner than this. you have got mel stride, the chairman of the treasury committee, saying that really, the government has 48 hours to try to calm the markets. that is really not much

time at all. kwasi kwarteng is predicted to land in the next 45 minutes, depending on how delayed his flight back from washington may have been so we will see what he says that there are mixed messages this morning, whether that is government minister saying there will be no change but the markets reacting to this anticipated u—turn. it is all a bit up in the air. reacting to this anticipated u-turn. it is all a bit up in the air.— it is all a bit up in the air. when ou to it is all a bit up in the air. when you to people — it is all a bit up in the air. when you to people in _ it is all a bit up in the air. when you to people in westminster, l it is all a bit up in the air. when l you to people in westminster, to politicians, there, we are hearing some really mixed signals. there are supporters still of liz truss in the cabinet and backbench mps. there are her detractors. where do you ultimately see this going in the coming weeks as far as the prime minister and chancellor's positions are concerned?— are concerned? well, i think even those who — are concerned? well, i think even those who supported _ are concerned? well, i think even those who supported liz - are concerned? well, i think even those who supported liz truss i are concerned? well, i think evenj those who supported liz truss are now feeling pretty depressed about the situation. she has really got to turn, whatever she does is going to upset someone, if she ploughs on

with her plans, that seems pretty politically suicidal to me, it seems like that absolutely can't happen, especially when you have got her own mps already plotting to get rid of her. she does still have supporters. it would be wrong to say she doesn't. but this rumoured climb—down on corporation tax, and it gets a bit confusing because corporation tax was due to rise, and then liz truss scrapped the rise and now she might scrap the scrapping of the rise, if you see what i am saying, if that goes ahead and corporation tax does go up, even those that support her say that would be betraying the ideology she has put forward that they support. so she is really between a rock and a hard place about where she goes. it is very difficult at this stage to see liz truss leading the conservatives into the next general election. there has been some talk about her getting rid of kwasi kwarteng as her chancellor, using him as a bit of a scapegoat. i think that would be very difficult because she built her whole leadership

campaign on these policies, on this ideology and she is so intertwined with it, ithink it ideology and she is so intertwined with it, i think it would be extremely difficult to get rid of kwasi kwarteng without her having to take some responsibility. we kwasi kwarteng without her having to take some responsibility.— take some responsibility. we heard him sa a take some responsibility. we heard him say a few _ take some responsibility. we heard him say a few hours _ take some responsibility. we heard him say a few hours ago, _ take some responsibility. we heard him say a few hours ago, that i take some responsibility. we heard him say a few hours ago, that he i take some responsibility. we heard i him say a few hours ago, that he and liz truss are not going anywhere as far as their positions are concerned. i am very interested to think about the process, though, if the party were to say, ok, this isn't working, we are going to take our chance on someone else, what happens then? we are two years away from a potential general election, it has to be within the next two years, how does the party decide that, 0k, years, how does the party decide that, ok, they want to have the best chance of winning and retaining their positions as mps and where does the process go? so their positions as mps and where does the process go?— their positions as mps and where does the process go? so when i am ex-alainin does the process go? so when i am explaining this _ does the process go? so when i am explaining this to _ does the process go? so when i am explaining this to people, - does the process go? so when i am explaining this to people, i - does the process go? so when i am explaining this to people, i find i does the process go? so when i am explaining this to people, i find it i explaining this to people, ifind it useful to compare it with what would happen if this was a labour government. if this was a labour government, they would have their rule changes voted through, if not by their members then at least their

executive committee. the conservative party has no such foibles. the 1922 committee and the board of the party sit in cc ho in their headquarters and they can make decisions to change their rules at any point. it really is up to them what happens. what we often hear about is it used to be the men in grey suits and nowadays it is that men and women in grey suits who might have a chat with liz truss, so she is technically at the moment say from another one of those drawn out leadership election that we saw over the summer, that they might have a chat and say, you know, it is time to go. that is kind of the process but you're right, two years out to maximum from a general election, the party will want to give itself the best run—up and that is a decision that mps are having to make right now. are they better off sticking with liz truss and potentially being punished at the ballot box for her decisions? orare punished at the ballot box for her decisions? or are they better off trying to get rid of her and trying

to prove to their constituents and voters that they are acting in what they would call the country's best interests, still potentially face losing their seat but maybe have a bit of a better chance? that is the balance they are trying to make work in their head right now. great balance they are trying to make work in their head right now.— in their head right now. great to net our in their head right now. great to get your thoughts _ in their head right now. great to get your thoughts on _ in their head right now. great to get your thoughts on the - in their head right now. great to | get your thoughts on the political machinations going on, as you say, kwasi kwarteng due to land in the next 20 when or so. the today on bbc news, we are bringing you a day of special coverage on the iran protests. it's been four weeks since the death of a 22—year—old kurdish woman in police custody which sparked demonstrations. mahsa amini had been detained for breaching islamic dress codes. women have been at the forefront of the defiant protests — often facing a violent response from the police. correspondent caroline hawley. these are scenes that have stunned iranians and inspired people around the world. here, schoolgirls take

off their headscarves. for 40 years, women have been made to wear them, whether they like it or not. but extraordinary acts of defiance are now taking place against a regime that's controlled what half the population wears, and how they all behave, for so long. and look at what these children are doing to portraits of iran's supreme leader. it's a month since a 22—year—old woman, mahsa amini, went on a fateful and fatal trip to the capital, tehran. she was stopped by iran's morality police, who were unhappy with the way she was wearing her hijab. witnesses say she was beaten before she ended up in a coma and died. this was herfuneral in her home town in the west of the country. her grieving family wrote on her gravestone that she would live on and become a symbol, as she has. a symbol of women and men standing up to the repression of the iranian regime. the islamic republic was set up in 1979, when the shah

of iran was overthrown. not long afterwards, women were made to wear the hijab, though some did challenge it. the shah pulled the door down by force. but these people are putting it up by force. the regime has successfully crushed all protest movements before now with brute force. but this time it faces a deeper challenge, as people from all walks of life say they want nothing less than an end to the islamic republic. azadeh moaveni has just returned from iran, where she witnessed some of the protests. i don't think there's ever been a generation under the islamic republic that's so different to the ruling authorities. they are fearless. they are plugged into the internet. they are sophisticated, they are worldly, they are educated, and they are more secular and liberal in their lifestyle than probably any generation before them. so where do you think this will all go? it's hard to see things ever going back to how they were before.

you know, the morality police, i think, will never be able to resume their patrols in iran. they're forever tainted by having killed a young, innocent girl. so i think we're just at a precipice moment, where sort of both sides are sort of staring each other down. it's really quite frightening. the 16—year—old, sarina esmailzadeh, has become a new face of the protests, killed by security forces, as was 16—year—old nika shah shakarami, their deaths are only fuelling iranians' fury. red paint on the hands of students in tehran this week. powerful commentary on a regime now facing an unprecedented crisis of legitimacy. caroline hawley, bbc news. we can speak now to our bbc persia

correspondent, rana rahimpour. thank you forjoining us. a month or more into the protests, how would you characterise them and how they are shifting and changing? goad are shifting and changing? good mornin: , are shifting and changing? good morning, exactly _ are shifting and changing? good morning, exactly four _ are shifting and changing? (limp. morning, exactly fourweeks are shifting and changing? (limp. morning, exactly four weeks since the death of matter and many, according to human rights activists over 200 people have been killed, thousands have been arrested, so many celebrities have come out to support the protests, and the violent crackdown, and protest have not stopped, i am joining you now from bbc persian service where my colleagues are getting ready to go on air in less than an hour, three hours earlier than usual, which has been the case for the last four weeks because of the intensity of the situation and what many believe is a historic moment in the life of the islamic republic. but to give you a taste of what is going on in iran, i want to show you a billboard that you see here, this is in one of the main squares of the capital, tehran. the poster you see has been

erected by an organisation affiliated with the revolutionary guards, and there are posters of women in the compulsory headscarf and in the middle, it says that the women of our homeland iran. when this was erected yesterday, there was a huge outcry against it. many of the women who are in the posters came out and said, we do not stand for the islamic republic, we don't endorse compulsory hijab and they askedit endorse compulsory hijab and they asked it to be removed. i want to show you now a new poster, within 24 hours, this poster was removed and it has been replaced by this. it still says that women of iran, but there are no women on the poster. this sums it up. many webinar standing against the islamic republic, are speaking out against it, and they are nowjoining the protesters and are calling for an end to the islamic republic. 50 end to the islamic republic. so these protests are different to once we have seen over the past several decades, they are shifting, they

present more of a threat to the islamic republic?— present more of a threat to the islamic republic? you are absolutely riaht, in islamic republic? you are absolutely right. in terms _ islamic republic? you are absolutely right, in terms of— islamic republic? you are absolutely right, in terms of its _ islamic republic? you are absolutely right, in terms of its geographical i right, in terms of its geographical spread, it has been in hundreds of cities and towns and it has been going on forfour cities and towns and it has been going on for four weeks which is the longest anti regime protest in terms of the days and the spread that we have seen so far. it is now going for the highest authority in the regime, the supreme leader, ali khamenei. we can see that the government is not budget, they send mixed messages, saying on one hand they are ready to negotiate with the protesters and hear their legitimate concerns but on the other hand, we are receiving footage of the violent crackdown of these protests. and the violence that is being used, as well as sexual harassment of some of the female protesters who are being arrested by security forces, has really shaken the core of the supporters of the islamic republic as well, in the last few hours, a

venue are showing one of the security forces at the moment of rest sexually harassed a woman and now many regime supporters are saying this is unacceptable and this treatment of women has to stop. can i 'ust ask treatment of women has to stop. can ijust ask you treatment of women has to stop. can i just ask you about your coverage and how you are getting access to ugc, videos and are you managing to interview people in iran with the restricted internet access there as well? are people fearful of speaking out and being identified? yes. well? are people fearful of speaking out and being identified?— out and being identified? yes, they are, it is a out and being identified? yes, they are. it is a huge — out and being identified? yes, they are, it is a huge risk— out and being identified? yes, they are, it is a huge risk for _ out and being identified? yes, they are, it is a huge risk for people i out and being identified? yes, they are, it is a huge risk for people to l are, it is a huge risk for people to protest and it is a huge risk for them to speak to us and it is not very easy. we have a team of specialist, ugc team that goes over every video we receive in order to confirm it but it is difficult because we don't have reporters in iran, the bbc is not allowed to work inside the country so we have to go through every video and make sure that we are not deceived because all sides of the political spectrum in iran are now trying to deceive independentjournalists, to portray

the story the way they want us to portray it. it is a very difficult situation and extremely challenging to get an accurate view of what is going on inside the country. ok. to get an accurate view of what is going on inside the country. ok, for now, going on inside the country. ok, for now. thank— going on inside the country. ok, for now. thank you _ going on inside the country. ok, for now, thank you very _ going on inside the country. ok, for now, thank you very much. - let's go to heathrow where the plane carrying the chancellor kwasi kwarteng, who as we have been discussing for the past few hours, cut short his meeting in new york because of the urgent economic situation here in the uk. he was having talks with the imf. he is on his way back and is due to land imminently, he and the prime minister liz truss are facing calls to change their plans to try and calm market turbulence, and reassure their party. kwasi kwarteng flying home from his visit to washington, dc for discussions with the prime list and conservative mps, we

understand. reports yesterday suggested that the government has been looking at which parts of its tax—cutting plans to ditch after its mini budget a few weeks ago, of course, caused huge turmoil in the markets and the bank of england to step in to buy gilts, which is due to end today. we understand many tory mps think a further change of plan is now inevitable even though we have heard that that is not going to happen. but of course, within days of the mini budget, the government rolled back on scrapping the 45p top rate of tax so they performed a u—turn on that. we also understand the prime minister liz truss is actually cancelled a series of visits today in her south—west norfolk constituency to stay in london and concentrate on the crisis surrounding her mini budget. she had been expected to attend two business meetings in norfolk, where she was planning to focus on investment zones and growth, of course, growth being the focus of her policies and

very much her economic plans. but huge criticism since the mini budget last month, which featured of course a raft of tax cuts funded by borrowing, which spoke to the financial markets and prompted a drop in the value of the pound. markets have recovered today and the value of the pound against sterling has risen and an expectation —— had risen in expectation of utensils that we don't know when any announcement, if any indeed will even be made but the continuing turmoil, as i mentioned, prompted this intervention from the bank of england which involved the buying of government bonds to stabilise their value. that is coming to an end today. again, speculation on whether the bank of england governor andrew bailey would have to u—turn on that but it hasn't happened yet. kwasi kwarteng was in washington for a meeting of global finance kwarteng was in washington for a meeting of globalfinance ministers and he spoke about the change in his travel plans, a source close to the chancellor said that he really wants

to engage not only with government colleagues but also mps over the financial plans so we understand that today, the chancellor and the prime minister will be meeting with their mps and we know that the prime minister has been meeting with mps a lot. she says she is in listening mode and very much wants to hear what mps have to say. but you know, we have been talking in the past few hours about concerns, notjust among backbenchers but also with some cabinet colleagues about the economic policy, about whether or not they should u—turn on any or all of it. the bbc also understands, they say that fiscal responsibility is caught in the chancellor and what he is trying to do and the source said that the crisis, they compared it to the greek financial crisis of 2011 when its finance minster was hauled back from a meeting to meet

the prime minister, a source said that debt crisis was on a completely different scale to anything that is happening here in our markets in the uk but there is a tense atmosphere in westminster, in the papers and from political reporters from across the political spectrum, discussing the political spectrum, discussing the future of the prime minister and the future of the prime minister and the chancellor and whether or not they can continue, whether or not they can continue, whether or not the prime minister will have to sacrifice the chancellor and get rid of him to appease their mps or whether or not in fact may need to 90, whether or not in fact may need to go, with concerns amongst the party. some mps think the prime minister just does not have control over the economic future of the country, they are concerned for the future of the conservative party and whether or not liz truss is doing inevitable and detrimental damage to their chances of being re—elected when an election has to be called which is within the next two years. this is

the plane with the chancellor on it, taxiing at heathrow, we are waiting for the chancellor to descend but at some point in the next few minutes. obviously we are some way away, from this picture but we no doubt have cameras nearby and people will be waiting to ask the chancellor about his return and his decision to come back early, about what it says about this crisis, about his position, about the government itself. he was asked about his position yesterday by the bbc, he said he was not going anywhere when asked if he and liz truss would still be in theirjobs this time next month. he said, absolutely, 100%. we know that he still has to spell out how year is going to pay for the government's £43 billion package of tax cuts and get uk's national debt falling. we are expecting that statement on the

sist are expecting that statement on the 31st of october, alongside an independent economic forecast from the office for budget responsibility, the obr, of course, much criticism that the obr did not present a forecast when he and the government presented the mini budget several weeks ago. the explanation of that was that they did not have time because it was done so quickly and in such a short time frame and they did not have time to get an independent analysis of it. we are expecting that in a couple of weeks. the criticism is that it is just too far away in the future, that the markets need more stability, they need more security. as i mentioned, the covenant has already turned on its plan to scrap the top rate of income tax but this only made up £2 billion of the tax cuts announced by the chancellor last month and there i was a £43 billion package that they have to account for. our westminster correspondence leila nathoois westminster correspondence leila nathoo is joining westminster correspondence leila nathoo isjoining me, westminster waiting with bated breath to see if

the chancellor says anything but what does it say about the significance of events that he has cut short his visit to washington and flown home a day early it and flown home a day early it certainly has the air or something about to happen, you know, the spectacle of the chancellor's plane being tracked and monitored as it arrives at heathrow is hardly the kind of impression of calm that the government wants to project. but i think it is clear that something will happen, we have had a steady building of pressure through the week on the prime minister. clearly, her attempts to try to stick to her plans and reassure both the financial markets and her own party that the plans are on course and that the plans are on course and that they can stick to the end of the month before laying out any further economic plans, clearly those attempts have failed and it looks like the chancellor and prime minister are going to have emergency talks about what to do with those proposals laid out in the mini budget that was delivered just a few weeks ago. and specifically, what to do about those tax cuts. it looks

very much like the chancellor is having to flight home to hear the news that his proposals are about to be dumped. ifind news that his proposals are about to be dumped-— news that his proposals are about to be dumped._ and i news that his proposals are about to i be dumped._ and then be dumped. and then what? and then what? well, — be dumped. and then what? and then what? well, i — be dumped. and then what? and then what? well, i mean, _ be dumped. and then what? and then what? well, i mean, it— be dumped. and then what? and then what? well, i mean, it is— be dumped. and then what? and then what? well, i mean, it is very - what? well, i mean, it is very unclear about the next steps. we have to work with what we have got. one is that there has been no announcement in all the official messages coming from both downing street and the treasury, they say they are sticking to the plan and they are sticking to the plan and they will have no change of course and both the prime minister and chancellor are in lockstep and they are both going to be in theirjobs in the weeks and months to come. they are very much trying to still hold the line, to wait to see what is announced on the 31st of october but i thinkjudging by how much is going on each day and the pace at which things are moving, it is very hard to see how we can still wait over two weeks, with a bit of a void, essentially, with the chancellor and finest insisting they

are going to stick to their plans and wait foran are going to stick to their plans and wait for an announcement but i think this has been the issue all along, that it is very unclear what is actually what is going to happen next because if the chancellor and the prime minister... next because if the chancellor and the prime minister. . ._ next because if the chancellor and the prime minister... leila nathoo, thank you. — the prime minister... leila nathoo, thank you. we're — the prime minister... leila nathoo, thank you, we're just _ the prime minister... leila nathoo, thank you, we're just leaving i thank you, we're just leaving viewers at world news. sorry, do carry on. viewers at world news. sorry, do car on. ~ . ~' viewers at world news. sorry, do car on. ~ ., ~ ., carry on. we were talking about the chancellor and _ carry on. we were talking about the chancellor and the _ carry on. we were talking about the chancellor and the prime _ carry on. we were talking about the chancellor and the prime minister l chancellor and the prime minister having to decide what to do next and if they do row back on their tax—cutting plans, those were the central measures on which liz truss campaigned to be leader of the conservative party, the central plank of her economic plans, the central plank of her vision which he has tried to outline, to say that cutting taxes is the only way the economy is going to grow. if you abandon those, the question then is raised, what does the prime minister and the chancellor actually stand for? i think there is going to be a lot of soul—searching about what to do because something that might calm the nerves of the financial markets in terms of rolling back on those tax plans and calm the nerves of her

tory mps, who has been so unhappy about what was announced, that might be something that actually means their positions become completely unviable. i think both the chancellor and the prime minister are looking at no good options and certainly when you talk to tory mps, they don't see a very bright future ahead. . ~ they don't see a very bright future ahead. ., ,, ., , they don't see a very bright future ahead. ., «i ., , ., ., ahead. talk to us a little about the difficulties that _ ahead. talk to us a little about the difficulties that downing _ ahead. talk to us a little about the difficulties that downing street i ahead. talk to us a little about the | difficulties that downing street has right now, on one hand it is trying to maintain that political credibility which suggest they would stand firm, no u—turns, they know what they're doing but at same time they need to try to retain financial and fiscal credibility with the market and the city and it seems right now it is very difficult to suit both of those convicting demands. suit both of those convicting demands-— suit both of those convicting demands. . ., demands. yeah, i think the prime minister does _ demands. yeah, i think the prime minister does find _ demands. yeah, i think the prime minister does find herself - demands. yeah, i think the prime minister does find herself boxed l demands. yeah, i think the prime | minister does find herself boxed in because she is not looking at a very

palatable set of options because she has campaigned precisely on this platform, the budget was launched within days of her taking office and outlined as the central plank of what the government was trying to do. it landed so badly but the message has been from the government all along that they are going to stick to their plans. remember, they did a u—turn on one measure already, scrapping the top rate of tax, the additional 45p rate of tax for higher earners after an outcry from backbenchers. but i think it will be harder to politically survive scrapping or abandoning the scrapping or abandoning the scrapping of the rise in corporation tax or delaying potentially a cut in income tax because those were the things that she campaigned on during the leadership campaign, unlike the 45 p. | the leadership campaign, unlike the 45 p. i think those are so central to the promises that if they are abandoned, there will definitely be

questions asked about how they can survive but i think those discussions for the moment are premature because we have not yet heard what the government is announcing, certainly, the kind of rush back from washington by the chancellor exudes a bit of panic but i think certainly until we have heard from either the treasury or downing street, it is not clear what the next step will be. that downing street, it is not clear what the next step will be.— the next step will be. that is the challen . e the next step will be. that is the challenge once _ the next step will be. that is the challenge once again, _ the next step will be. that is the challenge once again, isn't i the next step will be. that is the challenge once again, isn't it? itj challenge once again, isn't it? it is about the optics, how it looks and again, we saw this during the week as far as that intervention from the bank of england was concerned. they are all very keen to point out they are just doing what is necessary to maintain stability, and yet, the actual intervention itself is enough to cause concern, to cause panic. itself is enough to cause concern, to cause panic— itself is enough to cause concern, to cause panic-— to cause panic. well, the worry is now among _ to cause panic. well, the worry is now among conservative - to cause panic. well, the worry is now among conservative mps i to cause panic. well, the worry is| now among conservative mps that economic credibility cannot be restored, so we are talking about a u—turn as a way to restore economic rent ability on the tax—cutting

measures, to basically say how that package of tax cuts was going to be funded, essentially, not to do them, but i think the worry in the treasury and the worry in downing street and certainly the worry among tory mps is that the damage has already been done. remember the effect on mortgage rates has already happened, that has already happened for many people and they are going to see higher mortgage rates that have been made even higher by the government's actions. that has already been baked in. i don't think it will be easy for the government to completely go back to square one, evenif to completely go back to square one, even if they scrap many of the key policies. i think that will be the anxiety, that what is announced by downing street or the treasury imminently might not go far enough to actually restore, and i think when you hear the real worries of tory mps, is that there is some kind of u—turn but it does not go quite far enough to calm the nerves in the markets and restore the government to a kind of credible place, but actually it has damaged them so politically because they have been seen to try to row back and done so

under extreme pressure. so i think as i said it does not look like there is a set of good options for liz truss at the moment, it doesn't look like there is an obvious path where she can kind of bring things back but i think as i said, at the moment, because everything seems so feverish, we don't have much concrete to work with, i think until we hear from the chancellor and downing street today, which i am sure we will, i think only then will the next steps become clear. star; the next steps become clear. stay with us, i the next steps become clear. stay with us. i just _ the next steps become clear. stay with us, i just want _ the next steps become clear. stay with us, i just want to _ the next steps become clear. stay with us, ijust want to remind people what they are looking at if they are justjoining us people what they are looking at if they arejustjoining us on bbc news. this is the plain that we believe the chancellor kwasi kwarteng has arrived back at heathrow airport on just a few moments ago, making an earlier returned and scheduled from those meetings in washington, of course, the imf and the world bank, leaders from around the world were meeting to discuss their concern about a global recession and some of the problems caused by soaring prices, particularly things like energy and food. you can see people getting off

and it strikes me that they have got very quickly, normally it takes quite a while at heathrow to find a gate and get off the plane but it seems the passengers are getting off. one of the challenges now is about whether the conservative party can make a clean start here and suggest actually, we have thought about this, end if there are going to be u—turns it maintains their credibility. it all comes down to credibility. it all comes down to credibility-— credibility. it all comes down to credibili . , ., . credibility. yes, i think there are vafious credibility. yes, i think there are various scenarios _ credibility. yes, i think there are various scenarios playing - credibility. yes, i think there are various scenarios playing out i credibility. yes, i think there are various scenarios playing out in l credibility. yes, i think there are i various scenarios playing out in the minds of tory mps and thrown forward to various steps ahead, but certainly there is a question hanging over the chancellor position, even though he insisting he is nowhere. if the central planks of his budget are scrapped, it is difficult to see how he can stay in post. and if the prime minister herself who has been so closely identified with those policies loses her chancellor, it raises questions about her position too. you are

hearing live discussions about liz truss's future within the conservative party. if you stand back a second and think about how we got to this point that just back a second and think about how we got to this point thatjust over a month into her premiership there are already discussions about her potential removal, it's incredible to get to this stage but it gives the scale of the challenges she's facing, the fact these are serious discussions taking place among mps. but when mps consider the implications of that, they would then be looking at a potential fourth tory leader anointed by the party and not having gone to a general election, a transfer of leadership within government, a government term, which would be very turbulent. or looking at the possible triggering of a general election where they don't fancy their prospects. so it's a fragile situation, and i think you have got a sense this week as the pressure was building that all the moves are

being carefully calculated because there is a sense that if something snowballs into an explosive moment, they don't know quite where they will end up. clearly both liz truss personally and to the party, the conservative party, are proving pretty unpopular in polls with the public, so they don't fancy their positions. i definitely think there is a sense of despondency and a sense of doom and gloom falling upon the conservative party as they realise their prospects are not looking promising.— realise their prospects are not looking promising. yes, a busy afternoon _ looking promising. yes, a busy afternoon for _ looking promising. yes, a busy afternoon for you _ looking promising. yes, a busy afternoon for you ahead - looking promising. yes, a busy afternoon for you ahead in i afternoon for you ahead in westminster. we are grateful for that insight. thank you, leila nathoo. let's speak now to yael selfin, she's a chief economist at the global accounting firm kpmg. good to have you with us. i assume you could hear a bit of what our political correspondent was telling us, and i ask you the same question.

from a financial point of view, it's all about the credibility of this government, isn't it? it’s all about the credibility of this government, isn't it? it's about the credibility of _ government, isn't it? it's about the credibility of the _ government, isn't it? it's about the credibility of the fiscal _ government, isn't it? it's about the credibility of the fiscal plan, - government, isn't it? it's about the credibility of the fiscal plan, and i credibility of the fiscal plan, and at the _ credibility of the fiscal plan, and at the moment we haven't got enough clarity— at the moment we haven't got enough clarity as— at the moment we haven't got enough clarity as to _ at the moment we haven't got enough clarity as to what that plan is, but there _ clarity as to what that plan is, but there is— clarity as to what that plan is, but there is significant doubts as to whether— there is significant doubts as to whether this is going to be sustainable, and therefore it is quite _ sustainable, and therefore it is quite likely we will need to see a u-iurn_ quite likely we will need to see a hunt in— quite likely we will need to see a u—turn in some shape or form in order— u—turn in some shape or form in order to — u—turn in some shape or form in order to permanently or more long lasting _ order to permanently or more long lasting stabilise the markets. do ou lasting stabilise the markets. you think it lasting stabilise the markets. drr you think it is achievable for the chancellor to win economic credibility as far as his handling of the tax cuts and this budget is concerned? and also the political credibility of sticking to their guns, knowing what's best and seeing this plan through. it feels like the two are very contradictory. figs this plan through. it feels like the two are very contradictory.- two are very contradictory. as an economist. _ two are very contradictory. as an economist. i _ two are very contradictory. as an economist, i can _ two are very contradictory. as an

economist, i can really— two are very contradictory. as an economist, i can reallyjust i two are very contradictory. as an economist, i can reallyjust talkl economist, i can reallyjust talk about— economist, i can reallyjust talk about that _ economist, i can reallyjust talk about that and i would say two things — about that and i would say two things. one is there's certainly things— things. one is there's certainly things in— things. one is there's certainly things in the plan that didn't make sense _ things in the plan that didn't make sense in_ things in the plan that didn't make sense in terms of where the focus and the _ sense in terms of where the focus and the aspiration of byjust doing that you _ and the aspiration of byjust doing that you miraculously are going to create _ that you miraculously are going to create sustainably higher growth. so it didn't _ create sustainably higher growth. so it didn't make sense to start with. but when — it didn't make sense to start with. but when it— it didn't make sense to start with. but when it comes to the timing, that was— but when it comes to the timing, that was probably obvious from the start, _ that was probably obvious from the start, so— that was probably obvious from the start, sojust dragging this overtime isjust hurting the economy because _ overtime isjust hurting the economy because you have higher rates, more instability. _ because you have higher rates, more instability, and that is impacting the mortgage market, it is impacting business _ the mortgage market, it is impacting business investment, it is damaging the economy the more we are in that limbo _ the economy the more we are in that limbo. ~ . , . the economy the more we are in that limbo. ~ ., , ., i. the economy the more we are in that limbo. ~ .. , ., i. ., the economy the more we are in that limbo. ~ .. , ., ., ., limbo. what is it that you want to

see? i limbo. what is it that you want to see? i say — limbo. what is it that you want to see? i say you. — limbo. what is it that you want to see? i say you, in _ limbo. what is it that you want to see? i say you, in the _ limbo. what is it that you want to see? i say you, in the city, i limbo. what is it that you want to see? i say you, in the city, whatl see? i say you, in the city, what does the financial world one to see from the chancellor? he has been clear there will be no u—turn, the pressure is on for him to make a u—turn. what would convince you that as a chancellor he has a grip on this crisis?— as a chancellor he has a grip on this crisis? ., ., , ., ., this crisis? for a start, we need to see the obr _ this crisis? for a start, we need to see the obr to — this crisis? for a start, we need to see the obr to some _ this crisis? for a start, we need to see the obr to some degree i this crisis? for a start, we need to see the obr to some degree back| this crisis? for a start, we need to i see the obr to some degree back what he says. _ see the obr to some degree back what he says. we _ see the obr to some degree back what he says, we need to see where the money— he says, we need to see where the money will— he says, we need to see where the money will come from to pay for that additional— money will come from to pay for that additional spending and whether it is going _ additional spending and whether it is going to be through higher taxes ultimately at some point, lower as public— ultimately at some point, lower as public spending or effectively higher— public spending or effectively higher growth. we need to see that. therefore _ higher growth. we need to see that. therefore it's not something specific. _ therefore it's not something specific, it is really the whole package _ specific, it is really the whole package. trying to see something, a plan that— package. trying to see something, a plan that makes sense.

unfortunately, i think that is really— unfortunately, i think that is really where we are. we may have some _ really where we are. we may have some more — really where we are. we may have some more u—turns on certain things but i'm _ some more u—turns on certain things but i'm not— some more u—turns on certain things but i'm not that convinced that will really _ but i'm not that convinced that will really solve the situation in the medium — really solve the situation in the medium term.— really solve the situation in the medium term. .. . ._ , ., medium term. yael, stay with us for one second- — medium term. yael, stay with us for one second. we _ medium term. yael, stay with us for one second. we are _ medium term. yael, stay with us for one second. we are hearing - medium term. yael, stay with us for one second. we are hearing from i one second. we are hearing from downing street press conference will be given by the prime minister liz truss later today. we don't yet have a time for that, but of course this coming amid all the reports the government may be prepared to make a u—turn on some of the most controversial elements of the mini budget that has caused so much financial turmoil of late. just that line you can see, downing street will hold a press conference with the prime minister later today. as soon as we get a sense of what time that will take place, we will let you know, but in the meantime let's return to yael selfin who was talking to us from kpmg. there will be so much speculation filling the

void now until we see the prime minister deliver the press conference. you were just telling us what you want to hear from the chancellor and the prime minister, and they are running a very tight balancing act between maintaining the credibility but doing what the markets, what the city, what a lot of investors want to see right now. it's notjust about investors. markets _ it's notjust about investors. markets are important because we have a _ markets are important because we have a large amount of debt and we do need _ have a large amount of debt and we do need long—term gilts, the yield is not _ do need long—term gilts, the yield is not to— do need long—term gilts, the yield is not to go— do need long—term gilts, the yield is not to go through the roof. it is important. — is not to go through the roof. it is important, but ultimately it is important, but ultimately it is important for the economy as a whole — important for the economy as a whole we _ important for the economy as a whole. we need a plan that is sustainable, we need a plan that does _ sustainable, we need a plan that does encourage longer term growth, does encourage longer term growth, does encourage longer term productivity. there is a lot to be done, _ productivity. there is a lot to be done, and — productivity. there is a lot to be done, and we need something that is more _ done, and we need something that is more coherent overall. that is the

key, _ more coherent overall. that is the key, so _ more coherent overall. that is the key, so we — more coherent overall. that is the key, so we probably need to start from _ key, so we probably need to start from the — key, so we probably need to start from the beginning unfortunately and have a _ from the beginning unfortunately and have a better plan. we from the beginning unfortunately and have a better plan.— have a better plan. we will wait and see whether — have a better plan. we will wait and see whether we _ have a better plan. we will wait and see whether we get _ have a better plan. we will wait and see whether we get that. _ have a better plan. we will wait and see whether we get that. as - have a better plan. we will wait and see whether we get that. as we i have a better plan. we will wait and. see whether we get that. as we said, we expect to hear from the prime minister later today. yael selfin, good to have your thoughts, thank you. let's talk to nickjones who was also a journalist in the sterling crisis in the 1970s. put this into context because you have seen this before. how does it compare? it seen this before. how does it compare?— seen this before. how does it com are? . ., ., compare? it is the same moment one senses the political _ compare? it is the same moment one senses the political and _ compare? it is the same moment one senses the political and financial- senses the political and financial crises have combined together, because back in 1976 we had inflation running away, wejust had a change of prime minister, harold wilson had resigned unexpectedly, jim callaghan had taken over. he is straight into an economic crisis, and the then chancellor denis healey has to go to the imf to seek a loan

of 3.9 billion, just under 4 billion. that isjust of 3.9 billion, just under 4 billion. that is just pocket money by today's standards, but it was certainly an historic moment. but of course, the government was in deep trouble. the government was trying to impose paid policies on workers and of course the public sector then was enormous and an enormous number of people were finding that their wages were being held down, and of course we all know that that ended in 78 in that famous winter of discontent. so one senses again that we are at one of those very important moments when the financial affairs and political crises have combined to create this great tension. that's why we shall all be waiting to hear exactly what liz truss will announce this afternoon. yes, quite. on those comparisons with what we saw in the 70s, the

government really keen to point out that there are some similarities as far as inflation is concerned and those external factors but they do point to a world which is very different. we have a war in ukraine, we have a climate emergency, there are a lot of external factors here that are not necessarily within the control of this administration. that is true but we _ control of this administration. that is true but we have _ control of this administration. that is true but we have to _ control of this administration. tisgt is true but we have to remember it was the oil shock crisis of the mid—70s, the unexpected doubling and tripling of oil prices that led to the financial pressures and you have the financial pressures and you have the same thing today. it is a gas crisis, and it has the domino effect beginning to affect the financial world and political world. here in britain, because of the budget that the conservatives announced unexpectedly with this sort of proposition that you could borrow

money on the markets to finance tax cuts, that's completely spooked the financial markets and it has completely spoke to the conservative party. of course what we have got to remember is that we are not only going to see financial fallout this afternoon, but who knows what the political fallout could be afternoon, but who knows what the politicalfallout could be because they are in the wings, senior members of the conservative party saying this cannot go on, we are going to have to have a government of unity, of unity within the conservative party if the conservatives are going to have a chance of turning this around. so one remembers as well, i mean we had the famous black friday in 1992 when their were two increases in interest rates in a day, and of course it ended up in disaster and the government had to come out of the exchange rate mechanism and the then chancellor norman lamont was eventually sacked byjohn major. so you can see how rapid these events can be. it

you can see how rapid these events can be. , . . you can see how rapid these events can be. . . ., ., you can see how rapid these events canbe. .. ., .,, ., can be. it is clear to see how difficult it — can be. it is clear to see how difficult it is _ can be. it is clear to see how difficult it is to _ can be. it is clear to see how difficult it is to separate i can be. it is clear to see how difficult it is to separate the | difficult it is to separate the economics and the politics. you touched on black friday and we have had the greek economic crisis, the world financial crisis, the asian financial crisis, the fallout of the brexit referendum. put it into context here, how does it compare? we know that from those crises the world economy recovered. these things are cyclical, we were due a correction, dare i use that term, but put it into context about how bad it could get before it gets better. i bad it could get before it gets better. ., bad it could get before it gets better. ,. , ., ., bad it could get before it gets better. «i , ., ., better. i think you are quite right. we are in the _ better. i think you are quite right. we are in the middle _ better. i think you are quite right. we are in the middle of— better. i think you are quite right. we are in the middle of this i we are in the middle of this financial and political crisis, and you are quite right, they do end. the 1970s ended with a dramatic change in politics in britain, we had the election of margaret thatcher in 1979, and of course in her decade as prime minister she transformed the country. that is the view of all her supporters. so these

things can and quite dramatically with dramatic political changes. then of course if you think about i was just then of course if you think about i wasjust mentioning norman lamont and black friday, the day when britain came out of the european exchange rate mechanism, that also ends finally with the defeat of the conservatives and the election of tony blair, and of course we had the blair decade. these things are cyclical, you are quite right. it is very difficult to know how quickly and how further this one will go, but i think we all sense that this is the knife edge because the financial markets understand there is going to be a u—turn. if the u—turn isn't in place by the time the markets open up again on monday morning, who knows what might happen. morning, who knows what might ha en. , . morning, who knows what might ha en, , ., ., , ~' happen. yes, and it does feel like we are living _ happen. yes, and it does feel like | we are living through one of those chapters in an economic textbook, doesn't it? that students will be studying in months and years to come. i wonder then what lessons we

might have learned from any of the other crises that would be applicable today. we other crises that would be applicable today. other crises that would be aulicabletoda .~ ., ., , applicable today. we have to accept that when there _ applicable today. we have to accept that when there is _ applicable today. we have to accept that when there is a _ applicable today. we have to accept that when there is a major - applicable today. we have to accept that when there is a major shock, i applicable today. we have to acceptl that when there is a major shock, we had the gas price shockjust like we had the gas price shockjust like we had the gas price shockjust like we had the oil price shock in the 19705, had the oil price shock in the 1970s, you have these unexpected events and what governments need to bring to the country is stability. liz truss didn't bring stability in that sense, it was a major political change. and clearly the country and the financial markets were not prepared to accept it. one gets the sense looking back only a few months ago to the conservative party leadership election, and of course rishi sunak was "i am going to bring stability", that was his message. he was reading the markets in the summer saying this idea of borrowing money to finance tax cuts was fairy

tale economics. well, his prophecies have turned out correct, but that is the lesson. the lesson is that when you have one of these major shocks, you have one of these major shocks, you don't go turning the markets up and down with some topsy—turvy politics which just aren't going to hold. politics which 'ust aren't going to hold. . ~' �* , politics which 'ust aren't going to hold. h . , politics which 'ust aren't going to hold. �*, ., , politics which 'ust aren't going to hold. �*, ., ., hold. nick, it's really good to have our hold. nick, it's really good to have your thoughts. _ hold. nick, it's really good to have your thoughts, thank _ hold. nick, it's really good to have your thoughts, thank you. - hold. nick, it's really good to have your thoughts, thank you. it i hold. nick, it's really good to have your thoughts, thank you. it is i your thoughts, thank you. it is important to have that kind of context of what we have been through before and where we find ourselves now. nickjones, former bbc political correspondent, thank you. just a reminder we are waiting for a press conference and we are told it will be with the prime minister liz truss a little later in downing street. still waiting for a time to be confirmed. as soon as we know what the time will be, we will bring that to you on bbc news. lots of expectations about what might be announced of course. there will be plenty of speculation but we will get more detail from the plenty of speculation but we will get more detailfrom the prime

minister later today. we willjust leave that story for a while and keep an eye on events in downing street as the chancellor makes his way from heathrow airport having returned early from washington and those meetings with the imf, and we will turn our attention to a few other matters. up to 6,000 royal mail workers could be facing redundancy by next august. the postal company is blaming ongoing strike action and rising losses at the business. it says it's begun notifying workers of its plan, which aims to reduce its overall headcount by a total of 10,000. royal mail also said it expects its full—year losses to hit £350 million. the company currently employs 140,000 people. dock workers in liverpool will stage two more weeks of strike action in a row over pay and jobs. unite said almost 600 liverpool port workers will walk out again from october 24 to november 7th after industrial action in recent weeks.

an offer from port owner peel holdings was worth around 8.2% and a real—terms wage cut because of inflation rising, the union said. the company said the offer was worth over 10%. let's talk about both of those stories with our correspondent. marc ashdown, let's start with royal mail. there are some big numbers here, put them into context. we know royal mail employs a lot of people but none the less worrying times if you work for the royal mail, but we know the company is midway through a very painful restructuring. yes know the company is midway through a very painful restructuring.— very painful restructuring. yes and strikes as well, _ very painful restructuring. yes and strikes as well, and _ very painful restructuring. yes and strikes as well, and this _ very painful restructuring. yes and strikes as well, and this was i very painful restructuring. yes and strikes as well, and this was a - strikes as well, and this was a trading update which was pretty bleak. plans to cut between 5000 and 6000 jobs in terms of redundancies but the overall number they need to lose is more like 10,000. 4000 will be through what they call natural wastage, people retiring or leaving, but make no bones, that's 10,000

fewer people sorting but make no bones, that's10,000 fewer people sorting and delivering our mail. they blame partly the strike action, but also worth touching on the business model. they are trying to shift from a focus on letters to parcels, but clearly that is not working. the balance sheet not looking strong. today they reported for year losses £450 million. another two strikes are planned for this month. the pay deal on the table is 5.5%, but as ever they are made up of different strands.

there's lots of changes they are trying to bring about but lots of headwinds as well. they are facing issues with the rising price of everything as well so the company at the moment clearly, 10,000 people in total, that's about 10% of the workforce. just under, and they are facing tough challenges ahead. we

know it's notjust in this industry but unions at loggerheads with employers saying prices are rising for everything, our staff need more money. i wonder if this might persuade a few people to go back to work if theirjob is on the line. the union are pretty annoyed about it. they are saying it amounts to threats really. the staff clearly were on strike yesterday and desperately not wanting to be in that position but feeling they had no choice. they will say this pay rise, even 5.5%, is significantly below where we are with inflation at the moment so they will call that a real term cut in pay overall at a time when they are facing difficult choices as well. we time when they are facing difficult choices as well.— time when they are facing difficult choices as well. we should mention the ort choices as well. we should mention the port workers — choices as well. we should mention the port workers in _ choices as well. we should mention the port workers in liverpool. - the port workers in liverpool. explain what's going on there because it is pay and conditions and they are on strike again. yes. because it is pay and conditions and they are on strike again.— they are on strike again. yes, this is 600 or so _ they are on strike again. yes, this is 600 or so liverpool _ they are on strike again. yes, this is 600 or so liverpool port - they are on strike again. yes, this| is 600 or so liverpool port workers in the container division i'm told. today they have announced two more weeks of strikes between october and

november. to give you the background, it started on september the 19th, they were on strike for two weeks, then went back for a week, now currently on strike for a week, now currently on strike for a week which will finish on monday, then back to work but the unite union has announced this fresh wave of strikes starting on the 24th. again, familiar issues, they say the unite members are standing firm. the company can put forward a pay rise they will accept or the strike will continue. they say the members will offered over 8% already which has been improved to 10.2%. the union are disputing those figures, there are disputing those figures, there are different ways you can add this up are different ways you can add this up of course but it doesn't feel like they are close to resolution any time soon.— like they are close to resolution any time soon. busy time for you. marc ashdown, _ any time soon. busy time for you. marc ashdown, thank _ any time soon. busy time for you. marc ashdown, thank you. - any time soon. busy time for you. marc ashdown, thank you. we - any time soon. busy time for you. 1 marc ashdown, thank you. we are keeping an eye on events in downing street for you. the press conference

with the prime minister due later today but let's bring you up—to—date with the rest of today's stories. people who rely on home carers are being left without vital support as a result of high fuel prices, according to the home care association. the body, which represents uk care providers, says staff are being forced to leave the profession because they cannot afford to drive to their patients and employers can't afford to raise their salaries. alice cuddy has been to meet one woman whose care support was unexpectedly withdrawn. morning. i'm really sorry. i thought the social workers had been in touch to let you know that our care package with you ended last night. sadly, i don't have any clients in your area, and staff are complaining about fuel costs. natalie has been living without professional care support for over five months. so it's really, really frustrating. we've been constantly on the phone to social services saying, "what's going on?

"can we have some help, please?" complications in pregnancy have left her unable to walk, and with a range of health conditions. her husband jason now has to care for her, as well as looking after their young son. idid it! i feel like i'm trapped in this little hole. in this little hell. i have to rely on my husband to do everything for me. and that's not what i wanted for the kids. this fuel price hike, it needs to be sorted. natalie is not the only person whose care has been affected by high fuel prices. the shortage of home care workers is adversely affecting everybody that needs help. the high fuel costs are just making that situation even worse. it's really sad to hear natalie's story, and we're really sorry that she has experienced that and herfamily. care workers, they go to work because they want to improve lives.

they love what they do. they want to make a difference. and it breaks their hearts not to be able to. people need care. it's so important. natalie's former care agency said it was mortified by her situation. shropshire council said they're experiencing a shortage of carers, and the increased cost of living, including fuel prices, adds to this very challenging position. they added... since filming, natalie's case has been reassessed, and she has been told that her care should soon resume. but she worries about those still waiting for support. i have a family, but there are a lot of people that don't have families. their carers are the only people that they see that day. love you. alice cuddy, bbc news.

just another line to bring you on the news we are expecting a press conference from downing street with the prime minister later today. some of the logistics still to be determined but we are just told by our colleagues in westminster that the chancellor kwasi kwarteng will not be at the prime minister's press conference this afternoon, so lots of expectations about what might be announced after he made that return from washington earlier than planned, arriving back at heathrow airport in london this morning. the chancellor will not be present at that press conference. ian russell, the father of molly russell ian russell, the father of molly russell who died after viewing suicide content online, has urged social media companies not

to "drag their feet waiting for legislation and regulation". the coroner at the inquest into the death of molly has written to the government and tech companies, outlining changes he believes would make children safer online. the 14—year—old took her own life in 2017, after being exposed to harmful material about suicide, depression and self harm on social media. instagram and pinterest have to respond within two months to explain what action they've taken. a postmortem examination is expected to take place today on the human remains found in the murder investigation of leah croucher. yesterday, leah's family visited the house where her possessions and the remains were found and laid flowers at a nearby memorial. police say the forensic examinations could take weeks. donald trump has been ordered to give evidence to the committee investigating the storming of the capitol building last january. five people died and 140 police officers were wounded in the violence — carried out by mr trump's supporters. if he does not comply with the summons, he could face criminal charges and imprisonment. communities in three australian states have been ordered to evacuate as torrential rain brings major flooding. at least 500 homes have been flooded, one person has died

and another is missing as the disaster unfolds. parts of the country have received up to four times their average october rainfall in just 24 hours. widespread flooding across australia — driven by a la nina weather pattern — has killed more than 20 people this year. parts of flood—ravaged nigeria are bracing for more heavy rain as the country experiences some of its worst flooding in over a decade. these recent pictures show the scale of the disaster on the ground. 31 of the country's 36 states have been affected. officials say the death toll from the disaster has risen to more than 500 since the flooding began injuly and about1.4 million people have been displaced. now it's time for a look at the weather with matt. hello. after a fairly cloudy morning for a fair few of you, a bit more sunshine around at times

this afternoon, but there's still going to be those greyer moments with some wetter weather around. the patchy rain and drizzle we've seen across some southern counties of england becomes confined to east anglia, south—east, so brightening up from lincolnshire, midlands, parts of wales to the south—west. north and west wales, though, and across northern england, cloudier skies this afternoon compared with the morning and some heavy showers around. but more sunshine, fewer showers in scotland and northern ireland. coolest across the north, ten to 12 degrees, pleasantly warm in any sunshine in the south, 17 or 18 the high. showers largely fade away for a time tonight, but the breeze picks up in the west. then showers come in thick and fast towards morning, especially in western scotland. that could be heavy and thundery. and in the far north east of scotland, we could see temperatures actually dip below freezing before the cloud and the showers push their way in, and they will push across all parts during the first part of the day. then sunshine and a few showers later. elsewhere, patchy showers in the morning, dry for a time in the middle part of the day, but more showers in the afternoon. one or two spots staying dry, but a fresher and breezier day tomorrow.

hello, this is bbc news. the headlines: as the chancellor, kwasi kwarteng arrives back in the uk after cutting a us trip short, a downing street news conference is scheduled for this afternoon. speculation is mounting that he and the prime minister might be about to roll back on the tax cuts following weeks of economic turbulence and mounting conservative back bench anger. the price of uk gilts — or government bonds — is increasing once again as the bank of england announces a deadline for its intervention to prop up the market. royal mail announces up to 10,000 job cuts by next august as it reports losses of up to £350 million and blames ongoing strike action. unite announces two more weeks of strike action at the port of liverpool starting from 24 october over pay. the union said an offered pay rise

of 8.2% would be a real terms cut as it is below the inflation rate. communities in three australian states are ordered to evacuate as torrential rain brings major flooding. sport and for a full round—up, from the bbc sport centre, here's hugh. good morning. rain has twice interrupted england's final warm up match ahead of cricket's t20 world cup in canberra. they've already won the series against australia, but having been put into bat, they're 73 for 2 in the 10th over. that was when the rain came for the second time. the match is already reduced to 12 overs a side. england have moved onto 85— at the end of the over.

with only one team per group guaranteed a place in the last 16 of the europa league, it's going to take a little longer to seal qualification, and an injury time goal at old trafford has given manchester united hope they could be among them. it took until the 92nd minute for united to overcome omonia nicosia from cyprus, with scott mctominay ensuring united can still win their europa league group. with 2 matches still to play they're 3 points behind real sociedad, and united go there in november. arsenal remain top of their group thanks to a 1—0 win over bodo—glimt in norway. bukayo saka getting a deflection off his chest for the only goal of the game. it means arsenal will be through to the knock out stage if they win against psv eindhoven next week. anderlecht have apologised for the behaviour of their fans during their europa conference league defeat at west ham, with supporters throwing seats and setting off flares in the latter stages of the match.

west ham's win was their fourth in a row in the competition and sends them through to the knockout stage. said benrahma's stunning free kick might have been bettered with this from jarrod bowen. it equalled the club's european goal scoring record, with 6. it eventually finished 2—1 at the london stadium. hearts were thrashed 5—1 by the italian side fiorentina. they now need to win their remaining two games and hope other results go their way to have any chance of qualifying for the next stage. wolves are in talks with former manager nuno espirito santo about a possible return to molineux. the portugese coach remains a popularfigure amongst the wolves supporters, but was effectively sacked in 2021 after a difficult season. the club are stressing that an extensive recruitment process is being carried out. julen lopetegui turned down the chance to succeed bruno lage earlier this week. with all the excitement england fans may have ahead of the rugby league world cup, there's a warning that alone won't be enough to carry them through their opening game.

samoa are their opponents in the first group match of the men's tournament, and they're a team stacked full of players from australia's nrl. rugby league legend ellery hanley says england will need to be at their best to beat them in newcastle tomorrow. there is no question about it, it will be very difficult. england know about themselves as well, they'll be prepared for that, you'll understand in theirtraining prepared for that, you'll understand in their training schedules, and through the classroom schedules as well, in monetary mac monitoring their opposition, making sure that they're doing the video analysis about the strengths and of the opposition. i wouldn't expect anything else but an england win. wales have recalled captain siwan lillicrap as they hope to change history tomorrow with a win against new zealand at the world cup. they've never beaten the black ferns in four attempts. lillicrap says leading the squad out against the world champions will be �*phenomenal�*. the lock is one of four changes to the side with bethan lewis, gwen crabb and kelseyjones coming

into the starting 15. wales kicked off the campaign with a win over scotland last weekend. that's all the sport for now. let's go back to our top story, the chancellor, kwasi kwarteng has now returned to the uk after cutting short his trip to the us for an imf meeting. he's expected to meet prime minister truss in dwoning street today. sometime later the prime minister herself will address the media amid strong indication that a u—turn on the economic plan kwarteng announced weeks is in the offing. joining us to discuss this further is the former aide to steve barclay when he was chief secretary to the treasury, leon emirali. we are expecting this press

conference of liz truss a little later. there will be plenty of speculation and rumour, what can the government announced it would restore a bit of credibility to their handling of this crisis? i think the overriding speculation is around the u—turn, yet another u—turn on part of that mini budget. there is talk of the corporation tax cut being restored, so that would be another u—turn from the mini budget, but ultimately, if that is the case, the decision from liz truss and her political team would be that they announced this mini budget three weeks ago, 23rd of september, and it has been leading the political agenda ever since. i think we need to find a way to draw a line under that, by themselves some breathing space in the markets, as well as politically, so they can get on with implementing some of their vision beyond what wasjust implementing some of their vision beyond what was just announced three weeks ago. having that will be the intention of this press conference later this afternoon, whether or not

it achieves that or adds fuel to the fire, let's wait and see.— fire, let's wait and see. there are a lot of armchair _ fire, let's wait and see. there are a lot of armchair critics _ fire, let's wait and see. there are a lot of armchair critics saying - a lot of armchair critics saying they just a lot of armchair critics saying theyjust need to get on and get do x or y or z, but theyjust need to get on and get do x ory orz, but it is theyjust need to get on and get do x or y or z, but it is about keeping the public happy, keeping the party happy, keeping the markets happy, it is a very difficult balancing act, isn't it? i is a very difficult balancing act, isn't it? ~ , ., ., isn't it? i think it is one of the most difficult _ isn't it? i think it is one of the | most difficult challenges facing isn't it? i think it is one of the i most difficult challenges facing a prime minister since the brexit vote. this has been an incredible tenure for liz truss. she has come into this position essentially with a plan which she has not communicated the justification for. to come into the job a couple of weeks in and to announce such a sweeping change of economic direction is quite stark, and she hasn't had the opportunity to sell the vision for why she is doing that. i think that is why the markets have reacted in the way they

have, and that is why the polls are showing a significant lead for labour, and theyjust have to stabilise the ship right now, and try and move away from that mini budget, and look at other areas of their policy platform that they want to deliver. otherwise, that will continue to dominate, and the political problems willjust keep piling up. political problems will 'ust keep ilin: u. , . piling up. one interesting line that has emerged _ piling up. one interesting line that has emerged this _ piling up. one interesting line that has emerged this morning - piling up. one interesting line that has emerged this morning is - piling up. one interesting line that has emerged this morning is that l piling up. one interesting line that i has emerged this morning is that the chancellor himself will not be present at that press conference. there is a lot of speculation about what that means, if anything, you have been in the treasury at times of turbulence, what will be going through their mind right now? what will they be doing when kwasi kwarteng arrived back from heathrow into the treasury today. what do they even start to do? ultimately will be working _ they even start to do? ultimately will be working closely _ they even start to do? ultimately will be working closely with - they even start to do? ultimately i will be working closely with number ten to ensure there is coordination with whatever is announced. if the noises coming from both number ten and the treasury in recent weeks is

to be believed, there is a slight disconnect between the communication of number 11 downing st and number 10 downing street. there won't have to make sure that they are joined up in their approach, and certainly kwasi kwarteng will be looking over his shoulder about the fact that he has not been invited to this press conference, it may seem worrying to him on a personal level, but ultimately the prime minister is now in a position to take ownership of this, and that's frankly herjob. she has to be the one that is fronting this, rather than simply delegating responsibility to the others. there is going to be a lot of talk between the two departments, a lot of plans, hopefully, in place that everyone is agreed on, and then it will be the case over the weekend to take to the airwaves, and sell why they are taking these actions if it is a u—turn or another policy announcement, to really communicate that vision, so the markets are hopefully reassured and so are the voters. ., . ~'

hopefully reassured and so are the voters. ., ., ,, ., ., voters. you talked about the 'oined u . voters. you talked about the 'oined up approach — voters. you talked about the 'oined up approach of i voters. you talked about the 'oined up approach of how�* voters. you talked about the 'oined up approach of how this h voters. you talked about the joined up approach of how this looks, - voters. you talked about the joined up approach of how this looks, we | up approach of how this looks, we know the optics are such an important part of this job, presenting that united front. i don't want to labour the point, but how important is it that the chancellor will not be at the press conference? it chancellor will not be at the press conference?— conference? it is important, it looks as though _ conference? it is important, it looks as though that - conference? it is important, it looks as though that joined i conference? it is important, it looks as though that joined up looks as though thatjoined up approach isn't happening, but ultimately i think liz truss is wanting to stamp her authority on this. we have seen very little of the prime minister, little scrutiny has been given to the prime minister since she has taken this role, she has taken a back—seat certainly when it comes to this mini budget. we have got to the point in the cycle of the story where it has to be the prime minister fronting this, of the story where it has to be the prime ministerfronting this, it of the story where it has to be the prime minister fronting this, it has to be her taking responsibility, and stamping her authority on it. kwasi kwarteng, let's not speculate, that he is going to be worrying, he will be reading his twitterfeed he is going to be worrying, he will be reading his twitter feed and looking at that speculation as to his own future, but i think the priority now is to get beyond this

press conference, hope that that stabilise the market somewhat, and then they can look at the next steps and what they are. it is significant for kwasi kwarteng, a big economic announcement, you would expect the chancellor and the prime minister to be there in tandem together, delivering that coordinated message, perhaps that isn't the case here, and there is other plans afoot. we can't pre—empt, we don't know what the contents of that press conference will be, but do you get a sense we are so far down the story, as you said, it is always in the headlines since it was announced for all the wrong reasons, that the only way to put the story to bed is further to be a new prime minister and a new chancellor. that further to be a new prime minister and a new chancellor.— and a new chancellor. that is certainly _ and a new chancellor. that is certainly one _ and a new chancellor. that is certainly one of— and a new chancellor. that is certainly one of the - and a new chancellor. that is certainly one of the options l and a new chancellor. that is - certainly one of the options being considered, and i think the reasons why the conservative party is one of the most successful political parties in the world is because it is ruthless in its ability to survive. i think they will be looking at the polls and they have a

decision to make as to whether or not they are more vulnerable by deposing of a prime minister or a chancellor only a couple of months into the job, chancellor only a couple of months into thejob, or whether chancellor only a couple of months into the job, or whether the vulnerability lies in that prime minister and that chancellor, and they simply need to make a move to get rid of them. i think that is going to be a decision that is weighing on conservative mps going into this weekend. they will be taking soundings from their local association members, from their friends and family, as to what they think is the right thing to do here. ultimately, that is the choice to make, it isn't a defining choice in any sense, but that is a decision a lot of them will be making and asking each other in the coming weeks, if the situation doesn't improve. weeks, if the situation doesn't im-rove. ., ., ., ., , improve. nothing a lot of people find fascinating, _ improve. nothing a lot of people find fascinating, frustrating, - find fascinating, frustrating, depending on where you're coming this from, is that the financial markets and investors and city traders seemingly have so much power in this relationship that they can

almost dictate economic policy by their actions, whether that is selling government debt or buying government debt are taking their money out of the pound because they don't like the return they will get on it. is that a fair balance? does the city have too much power over what happens in downing street? the ci is a what happens in downing street? iie: city is a vital what happens in downing street? tie: city is a vital part what happens in downing street? ti2 city is a vital part of the economy, and it isn'tjust bankers in glass towers making decisions that impact the thinking of number ten. this decisions made in the financial markets have a impact in the real world, whether that is on the mortgages that people pay or the size of the pension fund they have invested in. these decisions do have a big impact in people's everyday lives as well, and that is why they are given a great deal of importance, and it is thejob of are given a great deal of importance, and it is the job of the treasury and the chancellor and the prime minister to ensure that the markets are brought in on the economicjourney markets are brought in on the economic journey that they are

taking the country on. clearly there is that tension when the mini budget was announced between the markets and between the political direction, and between the political direction, and that is what has led us to this turbulence in the markets. also, the market set the economic weather in this country. when we hear about the turmoil in the markets we get a sense, even if we don't quite necessarily understand bonds and gilts and all the technical terminology going around, we understand that something is afoot and it makes us feel level of uncertainty, and i think that is the influence of the markets and something the government needs to address. it something the government needs to address. ., , , something the government needs to address. . , , ., , address. it has been really interesting _ address. it has been really interesting to _ address. it has been really interesting to have - address. it has been really interesting to have your. address. it has been really - interesting to have your thoughts with us this morning, in what will be very busy day, but we are grateful for insight. be very busy day, but we are gratefulfor insight. we be very busy day, but we are grateful for insight. we are just getting another couple of lines from our political editor, chris mason, who is in westminster, and this relates to the future of the

chancellor. we know he has arrived backin chancellor. we know he has arrived back in the uk from being in washington, dc, buta numberten source has been speaking to chris saying that they are not commenting on reports that the chancellor is due to be sacked. chris goes on to saveit due to be sacked. chris goes on to save it when i was put to the source they would normally instantly deny any inaccurate report of such significance, the significance of sacking a chancellor so soon into their newjob, i was told i could read into what they were saying. the source that they have not heard any information when it was suggested that the chancellor would be removed, and we are also clear that kwasi kwarteng is not answering his phone. we saw him back and he threw a little earlier today, he has quite a little earlier today, he has quite a lot on his plate right now as he makes his way back from heathrow to the treasury in westminster. he is not answering his phone, but our political editor saying there that number ten are not commenting on the future of the chancellor, but when it was put to that source that they

would instantly deny any inaccurate report, i was told i couldn't read into what they were saying. stay tuned for what will be a very eventful afternoon. that press conference from the prime minister, liz truss, due to take place later today, and we were told that the chancellor will not be there. let's bring you up—to—date with some other stories. between 2000 and 2014, more than 700 post office branch managers in the uk were accused of theft, fraud and false accounting. but they say it was actually faulty accounting software, developed by a british subsidiary of japan's fujitsu, which made it look as though money was missing from their branches. later today, fujitsu will give evidence for the first time at a public inquiry that's taking place in london. we can speak now to janet skinner, who was falselyjailed for nine months after being accused of stealing £59,000 from her hull post office.

her conviction was quashed in 23 april 2021. thank you for being with us, i know this is so difficult to talk about, and i've been following the story for a long time. just remind people what you were put through as a result from this faulty accounting software. , , ., , result from this faulty accounting software. , , , . software. firstly, the post office are more interested _ software. firstly, the post office are more interested in _ software. firstly, the post office are more interested in how- software. firstly, the post office are more interested in how they| software. firstly, the post office i are more interested in how they are going to retain money back from you. theyjust going to retain money back from you. they just found everybody, going to retain money back from you. theyjust found everybody, they tour lives apart, people have died. it is nearly two decades on, and we are still having to go through the ordeal on a daily basis. mr; still having to go through the ordeal on a daily basis. my right in sa inc ordeal on a daily basis. my right in saying that — ordeal on a daily basis. my right in saying that you — ordeal on a daily basis. my right in saying that you were _ ordeal on a daily basis. my right in saying that you were imprisoned i ordeal on a daily basis. my right in l saying that you were imprisoned for nine months because of that £59,000 that was missing from the till. what was discovered later was that the

software didn't work, and it was the fault of the software that meant there was a lot of accounting inaccuracies, but the post office and the makers of the software were not prepared to listen, is that right? not prepared to listen, is that riaht? , , ., _ , ., right? yes. obviously, fu'itsu are the architects i right? yes. obviously, fu'itsu are the architects of i right? yes. obviously, fu'itsu are the architects of the i right? yes. obviously, fujitsu are the architects of the software, i right? yes. obviously, fujitsu are| the architects of the software, but it wasn't a system that put people in jail, it wasn't a system that put people injail, it was it wasn't a system that put people in jail, it was the post office themselves that put people in jail. although the system has a lot to do with it, ithink it is although the system has a lot to do with it, i think it is the cover—up of what fujitsu is aware of, and also what the post office is aware of, and rather than protecting their own staff, they went after them for the fact that the money they put into the system in the first place. am i right in saying that when they installed that system at the post office, you are still doing your accounts with a paper ledger to make sure that it was right, and it was

working on the way that you had been doing it before? that's how you discover that you are right and it was wrong?— was wrong? when it was first installed in _ was wrong? when it was first installed in one _ was wrong? when it was first installed in one of _ was wrong? when it was first installed in one of the - was wrong? when it was first installed in one of the officesj was wrong? when it was first i installed in one of the offices that i was working on, because i have worked in a number of offices in hull, and we did use the ledger, that was back in 2000, which i used on a daily basis. it was easy to... daily tallying on the ledgers was so much simpler than on the system, and unless you have a computer degree you don't automatically know that there is something wrong with that system. we only go by what the post office are telling us, and how they are saying that it's not the system, it is the user. are saying that it's not the system, it is the user-— it is the user. what has happened since, we know— it is the user. what has happened since, we know that _ it is the user. what has happened since, we know that there - it is the user. what has happened since, we know that there was i it is the user. what has happened since, we know that there was a l it is the user. what has happened i since, we know that there was a very high profile high court case last year, earlierthis

high profile high court case last year, earlier this year, your conviction was quashed in 2021 in april, what difference would that make for you? how important was it to be able to clear your name? hasn't made any difference in what you can day—to—day? it hasn't made any difference in what you can day-to-day?_ hasn't made any difference in what you can day-to-day? it has not made any difference _ you can day-to-day? it has not made any difference in _ you can day-to-day? it has not made any difference in what _ you can day-to-day? it has not made any difference in what i _ you can day-to-day? it has not made any difference in what i can _ you can day-to-day? it has not made any difference in what i can do - any difference in what i can do day—to—day. my life changed in 2006, 2007, 2008. physicallyl day—to—day. my life changed in 2006, 2007, 2008. physically i cannot work anyway, but the 23rd of april 2021 is just, anyway, but the 23rd of april 2021 isjust, if i could have plotted that up and kept that, it was an absolutely amazing day, but it was also very heart—wrenching to know that every person who was cleared on that every person who was cleared on that day had gone through a life changing situation through no fault of their own. changing situation through no fault of their own-— of their own. thank you for talking to us, i of their own. thank you for talking to us. i know _ of their own. thank you for talking to us, i know it's— of their own. thank you for talking to us, i know it's still— of their own. thank you for talking to us, i know it's still very - to us, i know it's still very difficult to talk about such a

seismic thing to have happened in your life. let's hope there are some more answers today. the british subsidiary of fujitsu is giving evidence later at that public inquiry. we wish you well, and hope that it does deliver at last. the most famous steam engine of all time in british history, is celebrating 100 years on the tracks. the flying scotsman has travelled 2.5 million miles and was the first locomotive to circumnavigate the globe. john maguire has this report on her story. the flying scotsman, one of the most famous of all steam locomotives, puffed impatiently, eager to be on her way to repeat history. the name that eclipses any other in the history of steam and the railways remains as emotive today as in any time during its century—long history. the flying scotsman. she broke records and set pulses racing.

the first to break the 100 mile per hour barrier in 1934 and to make the 400 mile journey from london to edinburgh without stopping. her speed saw her credited with delaying the inevitable takeover by diesel locomotives that was coming down the tracks. the flying scotsman, britain's best known express, gives passengers a sight they haven't seen since 1941. restaurant cars and railway kitchens are back again. and as britain adapted to post—war life, it was the scotsman chosen to highlight the return of on—board kitchens. welcomed by passengers, as this wholly unscripted exchange shows. have you enjoyed your lunch, sir? i've enjoyed it very much indeed, thank you. it's a very pleasant change after about, what is it, four years of sandwiches. she was taken around the world to showcase british engineering at its best, but often the business of running the scotsman ran into the buffers. her ownership changed

hands several times. an extensive ten year restoration, costing more than £4 million, was completed six years ago by the national railway museum to give the engine a new lease of life. these days, she tours the country's rail tracks, much to the delight of those who turn out in their droves to see her, if only for a few fleeting moments as the scotsman flies by. if you're just if you'rejustjoining us, welcome. there is a lot to bring up to date with, we are expecting a press conference from liz truss later, hot on the heels of the chancellor flying back from washington, dc. he was their meeting with other world finance leaders, but there is a lot

of speculation, a lot of pressure on downing street to perhaps reverse some of the announcements that were made and there may need budgets just a couple of weeks ago, that have caused so much financial turmoil since. to let you know what we are expecting, of course, that press conference from the prime minister. we know that kwasi kwarteng will not be part of that press conference, and what we are hearing throughout the morning and, if you have been with us, this is about downing street trying to present a united front, so read on to the fact that the chancellor will not be there as you will. we have also been hearing from various government ministers throughout the day, who are just saying, wait and see as to whether there will be any u—turns on those announcements. looking at some of the reaction to that, we are seeing that government bonds, which have been the source of so much problem for the government of late, thatis problem for the government of late, that is government debt, they need

to borrow money to fund their spending commitments. we have seen that the price of that has fallen, and the yield is soaring. what we are seeing is that a little bit of faith is returning to the financial markets, these were seen that the price of those bonds is now slowly rising. that could be a head of the speculation of what liz truss might announce later today. we have also heard from our political editor, chris mason, who says the number ten are not speculative on the future of the chancellor, but chris points out that normally, if he was putting it to a source at number ten that the chancellor was about to be sacked, they would refute that immediately. chris was telling us that he could read into what they were saying. amid all of this, lots of speculation, no realfacts right now. a treasury sources also say they have not heard any information when there was a suggestion that the chancellor is to be removed. we have not yet seen kwasi kwarteng return

to the treasury or downing street, but we understand he has been making his way back from heathrow, perhaps living in a side door. all eyes, as you can see, on downing street as we prepare to hear from the you can see, on downing street as we prepare to hearfrom the prime minister. let's talk about what we might expect. joining us from our studios in westminster is bloomberg's political editor, kitty donaldson. what are we expecting from the prime minister? this what are we expecting from the prime minister? , ., ., , , minister? this morning has been cra . we minister? this morning has been crazy- we are — minister? this morning has been crazy. we are expecting - minister? this morning has been crazy. we are expecting a - minister? this morning has been crazy. we are expecting a press. crazy. we are expecting a press conference on the prime minister this afternoon, not quite sure what time yet, probably early afternoon, and in it there are reports, although these are not confirmed that she is expected to say that the 28p rate of corporation tax is expected stay. we don't expect the chancellor kwasi kwarteng to appear beside her. as chris mason pointed

out, normally they would refute that he had been sacked, they are not doing that this morning, so draw your own conclusions. and doing that this morning, so draw your own conclusions.— doing that this morning, so draw your own conclusions. and there will be a lot of conclusions _ your own conclusions. and there will be a lot of conclusions drawn - be a lot of conclusions drawn between now and then, which is what makes all this so fascinating. let's talk about the issues, what everyone, what a lot of people are asking, is for changes to that many budgets, because the city is not convinced that it was costed and funded properly, and we know that a lot of backbench mps do not like the tone that the sets. downing street so far has been quite consistently saying that there will be no u—turns. they are bound to say that, aren't they? figs u-turns. they are bound to say that, aren't they?— aren't they? as always, there is no u-turn until _ aren't they? as always, there is no u-turn until there _ aren't they? as always, there is no u-turn until there is _ aren't they? as always, there is no u-turn until there is a _ aren't they? as always, there is no u-turn untilthere is a u-turn. i aren't they? as always, there is no | u-turn untilthere is a u-turn. that u—turn until there is a u—turn. that was true of the 45p rate as well, the top rate of income tax, there was no u—turn until there was a u—turn on the sunday night in a hotel room in birmingham at the tory conference, and the pattern has been quite similar here. the back benches of the party have been more in tune

of the party have been more in tune of where the markets are, and more in tune over the public are in the centre of government, number ten, and the treasury. the backbenchers are reading on this, the backbenchers effectively forced a u—turn on 45p, and therefore forced a u—turn that we are expecting this afternoon on corporation tax. probably they forced the sacking of kwasi kwarteng. i was talking to a tory mp yesterday who said the u—turn on corporation tax is the start of the reset. it is not the end. the reset needs to look at getting rid of key innerfigures in liz truss's cabinet stop they could also lose chris philp, who is kwasi kwarteng'sjunior at the also lose chris philp, who is kwasi kwarteng's junior at the treasury, and possibly even wendy morton, who is a chief whip. that is because the feedback between the backbenchers and number ten has broken, so they are calling for a new chief whip to

be installed, and also, slightly speculatively, other people are saying that jacob rees—mogg speculatively, other people are saying thatjacob rees—mogg has been the business secretary as one of the outliers of this government. if you remember he was quite rude about the bank of england, and some tories think this hasn't been helpful, and has added to the turmoil in the market. there's quite a lot of pressure on liz truss to change a top team, whether that looks like a call on the red phone to rishi sunak, we don't know yet, but it will be interesting to see.- will be interesting to see. would love to see _ will be interesting to see. would love to see and _ will be interesting to see. would love to see and hear— will be interesting to see. would love to see and hear the - will be interesting to see. would love to see and hear the phone i will be interesting to see. would i love to see and hear the phone calls that are going on right now. you have sort of outlined the challenge that liz truss has right now, it is a difficultjob, isn't it, because on the one hand she has to balance that political competency, the idea of coming up with a policy, sticking to it, doing what you think is best evenif to it, doing what you think is best even if it is unpopular, and she has been very clear, she says she is prepared to make unpopular

decisions. but the reality is, is there a limit to how unpopular you can be, because they also need to have the financial competency, they need to bring the city with them, they need to bring investors with them? the two at the moment are in such conflict, the political competency and financial competency? yes, and you can tell as i reported this morning there would be a u—turn. the pound jumps around and giltsjump around. any mention of what the prime minister or chancellor are going to do. going forward, that's interesting actually because whether the markets will settle down again, i think it depends largely on what liz truss does. i think they need to do more outreach to the bank of england and they also need to settle the tory party. you can't govern without a stable tory party, and she's in a difficult position at the moment, no

doubt about it. find difficult position at the moment, no doubt about it.— difficult position at the moment, no doubt about it. and we will wait and see what we — doubt about it. and we will wait and see what we hear _ doubt about it. and we will wait and see what we hear from _ doubt about it. and we will wait and see what we hear from her, - doubt about it. and we will wait and see what we hear from her, all- doubt about it. and we will wait and see what we hear from her, all eyes see what we hearfrom her, all eyes trained on the door at downing street. thank you, political editor at bloomberg. let's speak now to carstenjung, senior economist at the institute for public policy research which is a centre—left think tank. he's also a former economist at the bank of england. so today's the day we may get more detail about what happens. there will be plenty of speculation. what are you perhaps thinking or maybe hoping we might hearfrom the prime minister? and it appears he is frozen so we will try to re—establish that line and hopefully be able to speak with him. just to let you know what we are expecting over the next hour or so. we don't yet have timings on what time the

press conference from liz truss will take place, but it is worth saying as well there is plenty of rumour and speculation about the future of the chancellor kwasi kwarteng after that mini budget was announced, intended to lay out the new strategy for the new conservative government. it has caused chaos on financial markets ever since. let's return to kitty donaldson, who was just with us, bloomberg's political editor. thank you for sticking around because it will be one of those days where there is jumping around as we get new lines of information. you were saying earlier about who could potentially be in line if the chancellor was shown the door. we will not get any clarification of that quite clearly, but there are a number of names in the fray and i know the times this morning suggesting there could even be a rishi sunak penny mordaunt ticket. i think the times are suggesting that would be if liz truss were replaced altogether, because of course rishi

sunak came second to liz truss so he arguably has a mandate from the party, and penny mordaunt was the last one pushed out in the stages competition when the tory mps had a vote, so that's why they are in the frame, the two most senior ranking in terms of popularity in the party. it will be quite interesting to see who she chooses. i mean the whole reason rishi sunak didn't serve in liz truss's covenant is because they were so divergent in their views on the economy and what should be done. if she does ask rishi sunak to come back, that is another admittance that this whole project has been wrong. if that does happen, i imagine there will be some... he will attach some promises he wants from her. for instance, get rid of quite a few of the inner circle at number ten and install other people. we talk about this kind of gang of people from tufton street, the think

tank and they are the kind of people who are the harder tories, the low tax, low spending tories, the ones behind this budget. i imagine there's a feeling in the tory party right now that this philosophy has, evenif right now that this philosophy has, even if quite a lot of tories are supported in principle over a longer term, now is not the right time for it and i expect we will see a different kind of philosophical grouping appearing on number ten and the treasury. grouping appearing on number ten and the treasu . , ~' ., grouping appearing on number ten and the treasury-— the treasury. kitty, we know that all these workings _ the treasury. kitty, we know that all these workings are _ the treasury. kitty, we know that all these workings are now i the treasury. kitty, we know that all these workings are now going | the treasury. kitty, we know that i all these workings are now going on, there will be lots of horse trading going on, lots of negotiations and chat happening behind closed doors. we have an insight into downing street that we have never really had before, and yet it's at odds of a public image we should see of a government that is in control, that everything is smooth and in hand, that the government knows what it's doing. it's about the optics here. whatever liz truss announces today,

it is very difficult for them to regain the upper hand of saying we are on top of this, we know what we are on top of this, we know what we are doing. it feels like a lot of chaos for something that was supposed to be their big flagship policy. supposed to be their big flagship -oli . ., . supposed to be their big flagship poli . ., ., , policy. you are absolutely right. in some ways — policy. you are absolutely right. in some ways perhaps _ policy. you are absolutely right. in some ways perhaps the _ policy. you are absolutely right. in some ways perhaps the damage i policy. you are absolutely right. in i some ways perhaps the damage has already been done. you have only got to look at the opinion polls to see the tories are on course to lose the next election. i have been talking to people in the labour party about this, and while they are pleased by the polls, they don't regard them as locked in. they think the numbers are quite soft. even though they seem so far ahead, they still think the tories can catch up. but if you are a tory mp thinking my goodness, i'm going to lose my seat, that is another matter entirely. whether liz truss has done enough by reversing the mini budget, we will wait and see. i think herfuture is the mini budget, we will wait and see. i think her future is still under speculation, to be honest. kitty, thank you for now. it is

great to have your insight. kitty donaldson, bloomberg's political editor, who will stay with us. we have re—established the line to carstenjung, the senior economist carsten jung, the senior economist at carstenjung, the senior economist at the institute for public policy research, the centre—left think tank, also form a economist at the bank of england. good to have you. we were to you earlier so thank you for being back and persevering. we werejust for being back and persevering. we were just chatting about some of the optics of what is going on at downing street right now, and quite how difficult that will be to overcome because none of this really suggests the government has a handle on dealing with this crisis, and it feels a little chaotic to say the least. .,. , ., feels a little chaotic to say the least. .. , ., ., �* feels a little chaotic to say the least. , ., ., �* ., , least. exactly, and i don't really see how they — least. exactly, and i don't really see how they can _ least. exactly, and i don't really see how they can get _ least. exactly, and i don't really see how they can get around i least. exactly, and i don't really. see how they can get around that because they have just gone in the wrong direction with their economic strategy. we need well funded public services to get through the cost of living crisis and they have just

pulled the rug, they have pulled effectively the funding from a lot of public services through these tax cuts. even the u—turn that has been rumoured on corporation tax still leaves an £18 billion hole in what we need for public services, so they will need to go further to establish a sound footing for public services because they are creaking — the nhs, education — all areas we need funding to get through this crisis, and without further measures to raise funding and raise taxes, i think we are not going to get through this very well. i think we are not going to get through this very well.- through this very well. i was talkin: through this very well. i was talking a _ through this very well. i was talking a little _ through this very well. i was talking a little earlier - through this very well. i was talking a little earlier with i through this very well. i was talking a little earlier with a| talking a little earlier with a couple of guests about how it feels like this will be a chapter in an economic... probably even history textbook a few years from now of perhaps and how not to handle this.

i wonder about the source of this problem because the government has said we are in unprecedented times, we needed to do something radical, this was our solution. it was radical and we were going to shape up radical and we were going to shape up that —— shake up the way public services were funded and grow the economy as a result. very few i think would argue with the ambition. is thisjust about think would argue with the ambition. is this just about the execution of that idea? it is thisjust about the execution of that idea? , . ., , that idea? it is certainly right that idea? it is certainly right that we are _ that idea? it is certainly right that we are in _ that idea? it is certainly right that we are in a _ that idea? it is certainly right that we are in a very - that idea? it is certainly right that we are in a very severe i that idea? it is certainly right i that we are in a very severe crisis. our livelihoods are at risk in a way they haven't been in a generation, but the medicine ofjust cutting taxes and taking away funding from public services is the wrong kind of boldness. we should bolster public services. people will need more cost of in the new year as inflation

stays high. also we need to wean ourselves off gas in heating our homes. that will require big investment. and we also, i think this is a shocking statistic, public service workers are still earning less in real terms than they did 15 years ago. so if we want world—class public services in a growing economy, these are the things we need to invest in. this is where we need to invest in. this is where we need to invest in. this is where we need to be bold and not on agenda of just taking away the funding of these services.— just taking away the funding of these services. , . ., , , these services. yes, and that begs these services. yes, and that begs the question. _ these services. yes, and that begs the question, doesn't _ these services. yes, and that begs the question, doesn't it, _ these services. yes, and that begs the question, doesn't it, what i these services. yes, and that begs the question, doesn't it, what will| the question, doesn't it, what will it take for things to get back on an even keel? we know what the city once, we know what investors want, we know what some of the backbench mps want. the challenge is whether liz truss and the chancellor, whoever that may be, it may still be kwasi kwarteng, whether they can deliver that. kwasi kwarteng, whether they can deliver that-—

deliver that. even if this u-turn is done and all _ deliver that. even if this u-turn is done and all the _ deliver that. even if this u-turn is done and all the 43 _ deliver that. even if this u-turn is done and all the 43 billion - deliver that. even if this u-turn is done and all the 43 billion in i deliver that. even if this u-turn is done and all the 43 billion in tax i done and all the 43 billion in tax cuts are reversed, we are still, we still won't be in a good place. the situation wasn't exactly rosy before liz truss came in. there are still all these big challenges of how to make sure livelihoods are not destroyed by this cost of living crisis, and businesses have confidence to invest. none of this will be fixed by a u—turn, and it's only i would say a change in strategy that puts public services and cost of living support at its centre that can regain the credibility of markets. but then of course it's also important to come back to being transparent and getting the office for budget responsibility to look at the plans of the government rather than

evading scrutiny, as they have done so far. ., , �* , evading scrutiny, as they have done sofar. . , �*, ., , evading scrutiny, as they have done so far. . , �*, . , evading scrutiny, as they have done so far. ., , v ., , ., so far. carsten, it's really good to talk to you- _ so far. carsten, it's really good to talk to you. thank _ so far. carsten, it's really good to talk to you. thank you _ so far. carsten, it's really good to talk to you. thank you for - so far. carsten, it's really good to talk to you. thank you for being l talk to you. thank you for being with us this afternoon. if you are looking at some of those pictures, you will understand the world media is now moving to downing street so you will get a sense of some of the activity there. also in downing street, the chancellor returned. we can show you pictures of him arriving at number ten. that is kwasi kwarteng getting back in downing street to meet the prime minister, returning early from washington, dc. we've also been reporting this morning that number ten has declined to comment on those reports, the that kwasi kwarteng is due to be sacked. our political editor chris mason saying he put it to sources at number ten and they did not refute those allegations. let's quickly to leila nat —— leila nathoo at downing street. we let's quickly to leila nat -- leila

nathoo at downing street. we are workin: nathoo at downing street. we are working with _ nathoo at downing street. we are working with two _ nathoo at downing street. we are working with two bags _ nathoo at downing street. we are working with two bags at - nathoo at downing street. we are working with two bags at the i nathoo at downing street. we are i working with two bags at the moment, one is that kwasi kwarteng has returned to downing street, so he is now here, presumably talking to liz truss as we speak, and the second that liz truss will make a statement at a press conference later this afternoon. beyond that, everything else is rumour and speculation. a lot of talk about kwasi kwarteng's position and a lot of talk about what this press conference is expected to announce so we don't know anything beyond what we have been told just yet but we will wait and see what happens in the press conference later this afternoon. leila, thank you. you will be there with the latest for us. so just a quick reminder of what to expect. we are waiting for the press conference from the prime minister, liz truss. under all that pressure of course about plans to change some of the proposals in the mini budget. we know she is due to speak a little later. the chancellor a little earlier arriving back at number ten

for those meetings. we are told he will not be at that press conference. this is where we say goodbye to viewers on bbc two. coverage continuing of course on bbc news throughout the day. just to say if you are still with us we will be joining the team at politics live for what is shaping up to be a pretty eventful afternoon, so just a reminder as to be a pretty eventful afternoon, sojust a reminder as i was to be a pretty eventful afternoon, so just a reminder as i was saying that we are expecting to hear from the prime minister very shortly. but you will also know, lots of speculation now about the future of kwasi kwarteng as chancellor. in this job just a matter of weeks, announcing the flagship policy, the mini budget with those controversial plans for changes to the tax regime, income tax and also corporation tax. we have already had one u—turn, but speculation whether there will be further u—turns as far as those

announcements are concerned. what we have seen so far is that the city likes what they are expecting to hear. remember, no detailyet likes what they are expecting to hear. remember, no detail yet but we are seeing some pressure eased on bond prices that has been at the source of so many concerns right now. so let's as promised join my colleagues at politics live. as the chancellor, kwasi kwarteng, meets the prime minister inside downing street for urgent talks on their economic plans. liz truss will hold a press conference later today. joining me today — the daily telegraph's tony diver, times radio's charlotte ivers, daily mirror political editorjohn stevens.

the chancellor left washington dc in the middle of the night to fly home. his plane arrived at heathrow an hour and a half ago. as he made his way back to london, speculation is mounting about a major u—turn on his mini budget and about his own future. this morning ministers were insisting the economy is in safe hands. i've worked very closely with the prime minister before. when i was previously at trade, she was the trade secretary. i've worked very closely with kwasi kwarteng, and i see two people very determined, very determined to get the country growing again. but there's pressure from many tory mps for another u—turn. do it, do it now. make sure it's something significant, notjust- nibbling at the edges, _ but something that's going to be firm, bold and convincing. well, welcome to this politics live

special. events are developing really minute by minute. we now understand that kwasi kwarteng, the chancellor, is inside number ten downing street in discussions with liz truss about their economic plans and about his future. let's have a look at this tweet from stephen swinford at the times, political editor, i'm told kwasi kwarteng is being sacked as chancellor as liz truss prepares to reverse the mini budget, not clear who will be replacing him, events are moving very, very quickly. number ten not commenting and this is because of a u—turn we have been expecting over the last 24 hours to do with corporation tax. this is ben riley—smith at the telegraph, exclusive, corporation tax will rise to 25% from 19% this april. liz truss will announce that 2pm press conference today. we are expecting that to happen in the next couple of hours. a huge climb—down, sticking to rishi sunak�*s original plan,

remove central plank of her leadership bid. it's not the only u—turn that has happened, tony, but first of all about kwasi kwarteng and his position as chancellor. if this u—turn is announced this afternoon is untenable for him to remain as chancellor?— remain as chancellor? well, the chancellor _ remain as chancellor? well, the chancellor did _ remain as chancellor? well, the chancellor did an _ remain as chancellor? well, the chancellor did an interview i remain as chancellor? well, the chancellor did an interview with | remain as chancellor? well, the i chancellor did an interview with the telegraph this morning in which he said there wouldn't be any of these u—turns, that he would be remaining in post. he has spent the last few days at the imf in washington trying to convince the international markets and other world leaders that what he and liz truss are trying to do with that mini budget isn't going to cause a financial crisis and can continue. it seems that while he's been away there's been a bit of plotting going on in downing street, it seems the prime minister believes at this point she can't carry on with these measures, that tory party is too unhappy and therefore i think it's pretty difficult to see how he can continue given that up to this point he's been sticking to his guns. point he's been sticking to his nuns. �* , , point he's been sticking to his nuns. fl, ., ., . point he's been sticking to his tuns. �*, , ., ., . ., ., guns. it's been dramatic, charlotte, because we've _ guns. it's been dramatic, charlotte, because we've had _ guns. it's been dramatic, charlotte, because we've had kwasi _ guns. it's been dramatic, charlotte, because we've had kwasi kwartengl because we've had kwasi kwarteng getting the last flight out of

washington, dc and arriving here and going straight to downing street while all this speculation is continuing, but yesterday we were already hearing that perhaps corporation tax would rise after all and just to explain to viewers, there was this commitment it wouldn't, that they would cancel that rise. what does this say about liz truss's position? it is immensely _ liz truss's position? it is immensely tricky - liz truss's position? it is immensely tricky for i liz truss's position? it is immensely tricky for liz | liz truss's position? it is i immensely tricky for liz truss because — immensely tricky for liz truss because she's been moving hand in glove _ because she's been moving hand in glove with— because she's been moving hand in glove with kwasi kwarteng, she is repeatedly put her confidence in him and we _ repeatedly put her confidence in him and we know this project is her proiect — and we know this project is her proiect as— and we know this project is her project as well as his. my colleague steve _ project as well as his. my colleague steve swinford now reporting that kwasi _ steve swinford now reporting that kwasi kwarteng'sjob is on the line. the question is will that be enough to save _ the question is will that be enough to save liz— the question is will that be enough to save liz truss from two separate threats, _ to save liz truss from two separate threats, firstly the threat from the markets, — threats, firstly the threat from the markets, from the economic pressure she is_ markets, from the economic pressure she is under— markets, from the economic pressure she is under but also the threat from _ she is under but also the threat from her— she is under but also the threat from her own mps, who are deeply unhappy— from her own mps, who are deeply unhappy with what they are seeing, reports _ unhappy with what they are seeing, reports on — unhappy with what they are seeing, reports on the front page of the times— reports on the front page of the times today about the potential for overthrowing liz truss with weeks into her— overthrowing liz truss with weeks into her premierships and already those _ into her premierships and already those conversations are taking place

seriously _ those conversations are taking place seriously |t— those conversations are taking place seriousl . ., , , . , seriously. it does seem incredible, we are going _ seriously. it does seem incredible, we are going to — seriously. it does seem incredible, we are going to go _ seriously. it does seem incredible, we are going to go to _ seriously. it does seem incredible, we are going to go to downing i seriously. it does seem incredible, i we are going to go to downing street and speak to the bbc political correspondent leila nathoo who is outside number ten. it seems incredible that it was just over four weeks ago that liz truss became prime minister, that she appointed kwasi kwarteng as her chancellor, as we were just hearing there from charlotte, and they have reiterated they are in lockstep. what are you hearing? i they are in lockstep. what are you hearina ? .. �* , they are in lockstep. what are you hearinu? ~ �*, ., , , hearing? i think it's absolutely di inc, hearing? i think it's absolutely dizzying. the _ hearing? i think it's absolutely dizzying, the pace _ hearing? i think it's absolutely dizzying, the pace at - hearing? i think it's absolutely dizzying, the pace at which i hearing? i think it's absolutely i dizzying, the pace at which things are moving, jo. to be a fly on the wall behind those doors in downing street right now web kwasi kwarteng and liz truss are clearly holding discussions about what to do with that mini budget, i mean, if you just compare the words we were hearing from number ten this morning, the chancellor and the prime minister in you had greg hands, a minister, talking about absolutely no plans to change anything. the prime minister at prime minister's questions on wednesday defending not raising corporation tax, saying it would be the wrong thing at a time when we

are trying to attract investment. to think about the political humiliation if she has to row back on that which is widely what is expected at that press conference we are going to hear this afternoon. now, we know that the chancellor himself is not going to be at that press conference, the press conference is going to be led by the prime minister, so you can read into that what you will. at the moment number ten not commenting on all these reports that kwasi kwarteng is to lose his job, these reports that kwasi kwarteng is to lose hisjob, but of these reports that kwasi kwarteng is to lose his job, but of course as charlotte was saying his position is intimately connected with her own. she has been the one to campaign on this platform of tax cuts for her leadership of the conservative party. she has made that case so strongly, she has connected her whole government's purpose to cutting taxes as a way of trying to stimulate growth, something she has tried to differentiate her as she saw it from administrations, tory administrations, that came before, and now to be on the verge of actuallyjunking in after pressure from her own backbenchers is very difficult to see if she lets kwasi

kwarteng go how she can justify hanging on to her own position was white in terms of her authority, of course, this is another major u—turn after they decided to cancel the 45p tax rate policy can and there have been a number of other changes in government policy.— been a number of other changes in government policy. speaking to tory mps, and government policy. speaking to tory mps. and as — government policy. speaking to tory mps. and as l _ government policy. speaking to tory mps, and as i know _ government policy. speaking to tory mps, and as i know you _ government policy. speaking to tory mps, and as i know you do, - government policy. speaking to tory mps, and as i know you do, what i government policy. speaking to tory mps, and as i know you do, what is| mps, and as i know you do, what is the sense among them? yesterday people were saying we cannot have another leadership contest within weeks of having just appointed and elected liz truss as prime minister? i think this is the issue for tory mps as they too are boxed in. if you are talking about the prime minister and the chancellor being out of options in terms of where to go next on policy, tory mps too are struggling to see if any possible next step is a good outcome and i think the overriding sense among them is despondency and a sense of doom and gloom about the prospects going forward because as you say gay fourth anointing of another leader

within a term of government does not look like a potentially appetising prospect —— as you say, a fourth anointing of another leader. there are so many factions within the tory party it's going to be very difficult to agree on who might be that person and i think obviously looming in the distance is the spectre of a general election which most tory mps agree will go down pretty badly for them. leila nathoo at number ten, _ pretty badly for them. leila nathoo at number ten, thank _ pretty badly for them. leila nathoo at number ten, thank you. - pretty badly for them. leila nathoo at number ten, thank you. john, i at number ten, thank you. john, let's focus on conservative mps. at a practical level what can really happen? i have spoken to supporters of liz truss, senior supporters of liz truss this morning, who are saying people need to stop panicking within the party, that if there is a u—turn, although they don't support it on a key economic policy of the mini budget, if that comes everything down they should be able to carry on. it's that credible? i think we have to see what the reaction — think we have to see what the reaction of— think we have to see what the reaction of the _ think we have to see what the reaction of the markets - think we have to see what the reaction of the markets is i think we have to see what the reaction of the markets is to i think we have to see what the i reaction of the markets is to this u-turn_ reaction of the markets is to this u-turn tater _ reaction of the markets is to this u—turn later but _ reaction of the markets is to this u—turn later but clearly - reaction of the markets is to this u—turn later but clearly liz i reaction of the markets is to this u—turn later but clearly liz truss| u—turn later but clearly liz truss is desperately— u—turn later but clearly liz truss is desperately trying _ u—turn later but clearly liz truss is desperately trying to -

u—turn later but clearly liz truss is desperately trying to keep i u—turn later but clearly liz truss is desperately trying to keep a i is desperately trying to keep a preinter— is desperately trying to keep a premier ship— is desperately trying to keep a premier ship afloat, _ is desperately trying to keep a premier ship afloat, she i is desperately trying to keep a premier ship afloat, she is i is desperately trying to keep a i premier ship afloat, she is chucking kwasi _ premier ship afloat, she is chucking kwasi kwarteng _ premier ship afloat, she is chucking kwasi kwarteng over— premier ship afloat, she is chucking kwasi kwarteng over the _ premier ship afloat, she is chucking kwasi kwarteng over the side, - premier ship afloat, she is chucking kwasi kwarteng over the side, she. kwasi kwarteng over the side, she checking _ kwasi kwarteng over the side, she checking this — kwasi kwarteng over the side, she checking this corporation - kwasi kwarteng over the side, she checking this corporation tax - kwasi kwarteng over the side, she| checking this corporation tax policy over the _ checking this corporation tax policy over the side, _ checking this corporation tax policy over the side, but— checking this corporation tax policy over the side, but one _ checking this corporation tax policy over the side, but one of— checking this corporation tax policy over the side, but one of the - over the side, but one of the problems— over the side, but one of the problems is— over the side, but one of the problems is kwasi _ over the side, but one of the problems is kwasi kwartengl over the side, but one of the - problems is kwasi kwarteng didn't pluck— problems is kwasi kwarteng didn't pluck this— problems is kwasi kwarteng didn't pluck this policy— problems is kwasi kwarteng didn't pluck this policy from _ problems is kwasi kwarteng didn't pluck this policy from nowhere, i problems is kwasi kwarteng didn't pluck this policy from nowhere, it| pluck this policy from nowhere, it was an— pluck this policy from nowhere, it was an essential— pluck this policy from nowhere, it was an essential plank— pluck this policy from nowhere, it was an essential plank of- pluck this policy from nowhere, it was an essential plank of liz- was an essential plank of liz truss's— was an essential plank of liz truss's election _ was an essential plank of liz truss's election campaign i was an essential plank of lizi truss's election campaign as was an essential plank of liz- truss's election campaign as leader. her whole _ truss's election campaign as leader. her whole pitch _ truss's election campaign as leader. her whole pitch to _ truss's election campaign as leader. her whole pitch to the _ truss's election campaign as leader. her whole pitch to the tory- truss's election campaign as leader. her whole pitch to the tory party- her whole pitch to the tory party was i'm — her whole pitch to the tory party was i'm going _ her whole pitch to the tory party was i'm going to— her whole pitch to the tory party was i'm going to be _ her whole pitch to the tory party was i'm going to be a _ her whole pitch to the tory party- was i'm going to be a swashbuckling tax cutter~ _ was i'm going to be a swashbuckling tax cutter~ he — was i'm going to be a swashbuckling tax cutter. ., , was i'm going to be a swashbuckling tax cutter. , . ~ ., tax cutter. he has been sacked, i am interrunting. — tax cutter. he has been sacked, i am interrupting, kwasi _ tax cutter. he has been sacked, i am interrupting, kwasi kwarteng, - tax cutter. he has been sacked, i am interrupting, kwasi kwarteng, the i interrupting, kwasi kwarteng, the chancellor, he can only have been in with liz truss for a matter of ten or 15 minutes if we understood the timing correctly, he has gone. your reaction? i timing correctly, he has gone. your reaction? ~' , , , , reaction? i think liz truss is still in a really _ reaction? i think liz truss is still in a really difficult _ reaction? i think liz truss is still in a really difficult decision - reaction? i think liz truss is still in a really difficult decision and i in a really difficult decision and it witt— in a really difficult decision and it will be — in a really difficult decision and it will be interesting _ in a really difficult decision and it will be interesting to - in a really difficult decision and it will be interesting to see - in a really difficult decision and| it will be interesting to see who she brings _ it will be interesting to see who she brings in _ it will be interesting to see who she brings in as _ it will be interesting to see who she brings in as chancellor- it will be interesting to see who - she brings in as chancellor instead. obviously— she brings in as chancellor instead. obviously she — she brings in as chancellor instead. obviously she is _ she brings in as chancellor instead. obviously she is going _ she brings in as chancellor instead. obviously she is going to _ she brings in as chancellor instead. obviously she is going to make - she brings in as chancellor instead. obviously she is going to make this a moment— obviously she is going to make this a moment of— obviously she is going to make this a moment of trig _ obviously she is going to make this a moment of big change, _ obviously she is going to make this a moment of big change, she - obviously she is going to make this a moment of big change, she is- obviously she is going to make this. a moment of big change, she is going to say— a moment of big change, she is going to say that _ a moment of big change, she is going to say that she — a moment of big change, she is going to say that she has _ a moment of big change, she is going to say that she has learned _ a moment of big change, she is going to say that she has learned lessons, i to say that she has learned lessons, that she _ to say that she has learned lessons, that she is _ to say that she has learned lessons, that she is going _ to say that she has learned lessons, that she is going to _ to say that she has learned lessons, that she is going to change - to say that she has learned lessons, that she is going to change the - to say that she has learned lessons, that she is going to change the way| that she is going to change the way she is— that she is going to change the way she is running — that she is going to change the way she is running her— that she is going to change the way she is running her government, - that she is going to change the wayi she is running her government, but what _ she is running her government, but what does — she is running her government, but what does she _ she is running her government, but what does she do? _ she is running her government, but what does she do? does— she is running her government, but what does she do? does she - she is running her government, but what does she do? does she bring i she is running her government, but. what does she do? does she bring in one of— what does she do? does she bring in one of those — what does she do? does she bring in one of those rishi _ what does she do? does she bring in one of those rishi sunak— what does she do? does she bring in one of those rishi sunak supportersi one of those rishi sunak supporters who she _ one of those rishi sunak supporters who she vank— one of those rishi sunak supporters who she vank itched _ one of those rishi sunak supporters who she vank itched from _ one of those rishi sunak supporters who she vank itched from her - who she vank itched from her cabinet? _ who she vank itched from her cabinet? if— who she vank itched from her cabinet? if she _ who she vank itched from her cabinet? if she does - who she vank itched from her

cabinet? if she does that - who she vank itched from her cabinet? if she does that it'si who she vank itched from her. cabinet? if she does that it's still quite _ cabinet? if she does that it's still quite hard — cabinet? if she does that it's still quite hard because _ cabinet? if she does that it's still quite hard because a _ cabinet? if she does that it's still quite hard because a lot - cabinet? if she does that it's still quite hard because a lot of- quite hard because a lot of prominent _ quite hard because a lot of prominent rishi _ quite hard because a lot of prominent rishi sunak- quite hard because a lot of- prominent rishi sunak supporters, beobte _ prominent rishi sunak supporters, people like — prominent rishi sunak supporters, people like michael— prominent rishi sunak supporters, people like michael gove - prominent rishi sunak supporters, people like michael gove and - prominent rishi sunak supporters, | people like michael gove and grant shapps. _ people like michael gove and grant shapps. spent— people like michael gove and grant shapps. spent the— people like michael gove and grant shapps, spent the last _ people like michael gove and grant shapps, spent the last few- people like michael gove and grant shapps, spent the last few weeks i shapps, spent the last few weeks saying _ shapps, spent the last few weeks saying how— shapps, spent the last few weeks saying how awful— shapps, spent the last few weeks saying how awful liz _ shapps, spent the last few weeks saying how awful liz truss - shapps, spent the last few weeks saying how awful liz truss is - shapps, spent the last few weeks saying how awful liz truss is an . shapps, spent the last few weeks i saying how awful liz truss is an her poticies _ saying how awful liz truss is an her policies are — saying how awful liz truss is an her policies are terrible _ saying how awful liz truss is an her policies are terrible so _ saying how awful liz truss is an her policies are terrible so it's - policies are terrible so it's difficult _ policies are terrible so it's difficult to _ policies are terrible so it's difficult to see _ policies are terrible so it's difficult to see how- policies are terrible so it's difficult to see how they l policies are terrible so it's - difficult to see how they come into number— difficult to see how they come into number it — difficult to see how they come into number it and _ difficult to see how they come into number 11 and to— difficult to see how they come into number 11 and to be _ difficult to see how they come into number 11 and to be her— difficult to see how they come intoi number 11 and to be her chancellor. let's _ number 11 and to be her chancellor. let's return — number 11 and to be her chancellor. let's return to — number 11 and to be her chancellor. let's return to number— number 11 and to be her chancellor. let's return to number ten - number 11 and to be her chancellor. | let's return to number ten downing street where that sacking happened, leila nathoo is there, can you tell as anything else apart from the fact that kwasi kwarteng is out? he. as anything else apart from the fact that kwasi kwarteng is out? no, 'ust the confirmation �* that kwasi kwarteng is out? no, 'ust the confirmation he is i that kwasi kwarteng is out? no, 'ust the confirmation he is out i that kwasi kwarteng is out? no, 'ust the confirmation he is out offi that kwasi kwarteng is out? no, 'ust the confirmation he is out of the h the confirmation he is out of the job. he arrived back herejust before midday, it's now 12:25 p m, so a short conversation, probably clear to him as he flew back on the plane that the writing was on the wall but he has now been sacked as chancellor. we expected as much given that liz truss was going to leave that press conference on her own later this afternoon, presumably that's when she is also going to announce a new chancellor. i can't imagine the announcement will be that far behind because there needs to be someone in charge of the economy. so having this now gap as

to letting go the main ideological soulmate of liz truss, the person that she was implementing this project of tax cuts with, i think she is going to have to think very carefully about how she presents this when she stands up later at that press conference to try to distance herself from the mini budget, because of course this was very much a joint project. yes, he is the chancellor, yes, he was delivering it, but it in absolutely no way was she disconnected from it and absolutely no way was she in any way not behind or not campaigning for all of the measures that were coming in, sol for all of the measures that were coming in, so i think she is going to have to come up with a quite sophisticated justification for why she thinks letting the chancellor go is going to neutralise the discontent, because i think it throws her own position into one thatis throws her own position into one that is very precarious for slightly less so, thank you. charlotte, it's less so, thank you. charlotte, its extraordinary, just over half an hour ago and kwasi kwarteng were still chancellor. triage hour ago and kwasi kwarteng were still chancellor.— still chancellor. now he is out of a 'ob and still chancellor. now he is out of a job and liz — still chancellor. now he is out of a job and liz truss _ still chancellor. now he is out of a job and liz truss is _ still chancellor. now he is out of a job and liz truss is looking - still chancellor. now he is out of a job and liz truss is looking to - job and liz truss is looking to appoint somebody else. first of all,

your reaction and what about her position? will she be able to do that? will she be able to distance herself from the chancellor that she was attached at the hip with when it came to their economic policies? it's quite remarkable, isn't it? the thing _ it's quite remarkable, isn't it? the thing i've — it's quite remarkable, isn't it? the thing i've heard from conservative mps over— thing i've heard from conservative mps over the last couple of days after _ mps over the last couple of days after we — mps over the last couple of days after we started to get a few rumours _ after we started to get a few rumours the chancellor's job after we started to get a few rumours the chancellor'sjob might be on _ rumours the chancellor'sjob might be on the _ rumours the chancellor'sjob might be on the line was that she needs to bring _ be on the line was that she needs to bring in _ be on the line was that she needs to bring in someone who, asjohn was saying. _ bring in someone who, asjohn was saying, would unify the party, would be a unity— saying, would unify the party, would be a unity figure and the question is, who? — be a unity figure and the question is, who? speaking to a prominent supporter— is, who? speaking to a prominent supporter of rishi sunak yesterday who essentially said to me, nobody credibte _ who essentially said to me, nobody credible would do it. we spent all this time — credible would do it. we spent all this time trashing our policies, why would _ this time trashing our policies, why would we _ this time trashing our policies, why would we suddenly step out now and implement them. the question then is who is— implement them. the question then is who is going _ implement them. the question then is who is going to accept this? is there — who is going to accept this? is there someone who is willing to take it up and _ there someone who is willing to take it up and frankly i don't see them clamouring — it up and frankly i don't see them clamouring at this stage in the game — clamouring at this stage in the name. ., y clamouring at this stage in the game- the _ clamouring at this stage in the game.- the more - clamouring at this stage in the | game.- the more u-turns clamouring at this stage in the - game.- the more u-turns there game. tony? the more u-turns there are, the game. tony? the more u-turns there are. the more — game. tony? the more u-turns there are, the more similar _ game. tony? the more u-turns there are, the more similar her _ game. tony? the more u-turns there are, the more similar her policy - are, the more similar her policy becomes too rishi sunak. she didn't want to increase corporation tax to

25%, that's what we understand will be announced this afternoon, that was rishi sunak�*s policy and the labour party policy so it's possible that you have somebody who is more ideological aligned with number ten but frankly he would want to join the government at the moment? it doesn't feel hugely stable. you mentioned _ doesn't feel hugely stable. you mentioned labour _ doesn't feel hugely stable. you mentioned labour and i doesn't feel hugely stable. you mentioned labourand i am doesn't feel hugely stable. you mentioned labour and i am welcome emily thornberry, shadow attorney generalfrom labour's emily thornberry, shadow attorney general from labour's front bench. your reaction that kwasi kwarteng has gone? i your reaction that kwasi kwarteng has one? ~ �* . has gone? i think it's quite extraordinary _ has gone? i think it's quite extraordinary that - has gone? i think it's quite extraordinary that we - has gone? i think it's quite extraordinary that we have j has gone? i think it's quite i extraordinary that we have a has gone? i think it's quite - extraordinary that we have a most humiliating — extraordinary that we have a most humiliating u—turn _ extraordinary that we have a most humiliating u—turn happening - extraordinary that we have a most humiliating u—turn happening on i extraordinary that we have a most| humiliating u—turn happening on a policy— humiliating u—turn happening on a policy that— humiliating u—turn happening on a policy that has _ humiliating u—turn happening on a policy that has crashed _ humiliating u—turn happening on a policy that has crashed our- humiliating u—turn happening on a i policy that has crashed our economy, the most _ policy that has crashed our economy, the most extraordinary _ policy that has crashed our economy, the most extraordinary event - policy that has crashed our economy, the most extraordinary event that - policy that has crashed our economy, the most extraordinary event that wej the most extraordinary event that we have seen— the most extraordinary event that we have seen in— the most extraordinary event that we have seen in my— the most extraordinary event that we have seen in my lifetime _ the most extraordinary event that we have seen in my lifetime as - the most extraordinary event that we have seen in my lifetime as far- the most extraordinary event that we have seen in my lifetime as far as - the most extraordinary event that we have seen in my lifetime as far as i l have seen in my lifetime as far as i can see _ have seen in my lifetime as far as i can see they. _ have seen in my lifetime as far as i can see. they. by— have seen in my lifetime as far as i can see. they, by doing _ have seen in my lifetime as far as i can see. they, by doing this - have seen in my lifetime as far as i. can see. they, by doing this u—turn, accept _ can see. they, by doing this u—turn, accept that— can see. they, by doing this u—turn, accept that all— can see. they, by doing this u—turn, accept that all of— can see. they, by doing this u—turn, accept that all of this _ can see. they, by doing this u—turn, accept that all of this has _ can see. they, by doing this u—turn, accept that all of this has been - accept that all of this has been their— accept that all of this has been their fault— accept that all of this has been their fault and _ accept that all of this has been their fault and we _ accept that all of this has been their fault and we even - accept that all of this has been. their fault and we even debating that li2— their fault and we even debating that liz truss _ their fault and we even debating that liz truss should _ their fault and we even debating that liz truss should remain - their fault and we even debating that liz truss should remain in i their fault and we even debating . that liz truss should remain in her 'ob. �* , ., . . that liz truss should remain in her 'ob. �* i. ., . . job. are you calling for a general election? we _ job. are you calling for a general election? we need _ job. are you calling for a general election? we need to _ job. are you calling for a general election? we need to have - job. are you calling for a general election? we need to have a - election? we need to have a re5ponsible _ election? we need to have a responsible government, . election? we need to have a responsible government, a i election? we need to have a - responsible government, a grown-up responsible government, a grown—up government. — responsible government, a grown—up government. that _ responsible government, a grown—up government, that will— responsible government, a grown—up

government, that will look _ responsible government, a grown—up government, that will look after - responsible government, a grown—up government, that will look after our. government, that will look after our finances. _ government, that will look after our finances. that— government, that will look after our finances, that will— government, that will look after our finances, that will make _ government, that will look after our finances, that will make proper- finances, that will make proper decisions — finances, that will make proper decisions and, _ finances, that will make proper decisions and, yes, _ finances, that will make proper decisions and, yes, but- finances, that will make proper decisions and, yes, but we - finances, that will make proper decisions and, yes, but we will| finances, that will make proper- decisions and, yes, but we will only -et decisions and, yes, but we will only get a _ decisions and, yes, but we will only get a credible — decisions and, yes, but we will only get a credible government - decisions and, yes, but we will only get a credible government of - decisions and, yes, but we will only get a credible government of that l get a credible government of that sort with— get a credible government of that sort with a — get a credible government of that sort with a labour— get a credible government of that sort with a labour government. . get a credible government of that i sort with a labour government. hora? sort with a labour government. how are ou sort with a labour government. how are you going _ sort with a labour government. how are you going to _ sort with a labour government. are you going to make that sort with a labour government.- are you going to make that happen, emily thornberry? we've been told that labour party staff have been telling mps like yourself, be on an election war footing. you were obviously expecting something to happen. what are you going to do to make it happen? thea;r happen. what are you going to do to make it happen?— happen. what are you going to do to make it happen? they have an 80 seat ma'ori make it happen? they have an 80 seat majority and — make it happen? they have an 80 seat majority and that's _ make it happen? they have an 80 seat majority and that's always _ make it happen? they have an 80 seat majority and that's always been - make it happen? they have an 80 seat majority and that's always been our - majority and that's always been our problem _ majority and that's always been our problem so — majority and that's always been our problem so it— majority and that's always been our problem so it will— majority and that's always been our problem so it will be _ majority and that's always been our problem so it will be up— majority and that's always been our problem so it will be up to - majority and that's always been our problem so it will be up to them, . problem so it will be up to them, but that's— problem so it will be up to them, but that's what _ problem so it will be up to them, but that's what our— problem so it will be up to them, but that's what our country- problem so it will be up to them, i but that's what our country needs. leaving _ but that's what our country needs. leaving aside _ but that's what our country needs. leaving aside all— but that's what our country needs. leaving aside all the _ but that's what our country needs. leaving aside all the party - leaving aside all the party politics. _ leaving aside all the party politics, what _ leaving aside all the party politics, what our- leaving aside all the party politics, what our countryi leaving aside all the party - politics, what our country needs is it needs _ politics, what our country needs is it needs to— politics, what our country needs is it needs to have _ politics, what our country needs is it needs to have a _ politics, what our country needs is it needs to have a responsible, - it needs to have a responsible, grown-up— it needs to have a responsible, grown—up government - it needs to have a responsible, grown—up government that - it needs to have a responsible, j grown—up government that has it needs to have a responsible, - grown—up government that has some credibility. _ grown—up government that has some credibility. that — grown—up government that has some credibility, that the _ grown—up government that has some credibility, that the markets - grown—up government that has some credibility, that the markets and - credibility, that the markets and internationally _ credibility, that the markets and internationally people _ credibility, that the markets and internationally people can - credibility, that the markets and i internationally people can believe in. internationally people can believe in 0therwise _ internationally people can believe in. otherwise we _ internationally people can believe in. otherwise we will— internationally people can believe in. otherwise we will have - internationally people can believe in. otherwise we will have the - in. otherwise we will have the fourth — in. otherwise we will have the fourth chancellor _ in. otherwise we will have the fourth chancellor in _ in. otherwise we will have the fourth chancellor in a - in. otherwise we will have the fourth chancellor in a year - in. otherwise we will have the| fourth chancellor in a year and in. otherwise we will have the - fourth chancellor in a year and liz truss. _ fourth chancellor in a year and liz truss. who — fourth chancellor in a year and liz truss. who got _ fourth chancellor in a year and liz truss, who got us _ fourth chancellor in a year and liz truss, who got us into— fourth chancellor in a year and liz truss, who got us into all- fourth chancellor in a year and liz truss, who got us into all of- fourth chancellor in a year and liz truss, who got us into all of this. truss, who got us into all of this trouble, — truss, who got us into all of this trouble, you _ truss, who got us into all of this trouble, you know, _ truss, who got us into all of this trouble, you know, rowing - truss, who got us into all of this - trouble, you know, rowing backwards desperately. — trouble, you know, rowing backwards desperately. not— trouble, you know, rowing backwards desperately, not knowing _ trouble, you know, rowing backwards desperately, not knowing where - trouble, you know, rowing backwards desperately, not knowing where shei desperately, not knowing where she is going _ desperately, not knowing where she is going and — desperately, not knowing where she is going and floundering _ desperately, not knowing where she is going and floundering around, - is going and floundering around, what _ is going and floundering around, what good — is going and floundering around, what good would _ is going and floundering around, what good would that _ is going and floundering around, what good would that do - is going and floundering around, what good would that do for- is going and floundering around, - what good would that do for britain? except _ what good would that do for britain? except if— what good would that do for britain? except if the — what good would that do for britain? except if the markets _ what good would that do for britain? except if the markets are _ what good would that do for britain? except if the markets are calmed - what good would that do for britain? | except if the markets are calmed and

i accept we are speculating to some extent, but actually, as tony was saying, if they u—turn on any more of the mini budget it's going to looked very much like a mini budget you are fully behind because the 45p tax rate policy has gone, they are now going to increase corporation tax, which you wanted to see, you do support the reversal of rishi sunak�*s increase in national insurance contributions, there is a mini budget you can get behind? it does notjust it does not just the it does notjust the reckless it does not just the reckless way in which _ it does not just the reckless way in which they— it does not just the reckless way in which they did _ it does not just the reckless way in which they did the _ it does not just the reckless way in which they did the mini _ it does not just the reckless way in which they did the mini budget, i it does not just the reckless way in which they did the mini budget, it| which they did the mini budget, it is the _ which they did the mini budget, it is the way— which they did the mini budget, it is the way they— which they did the mini budget, it is the way they have _ which they did the mini budget, it is the way they have been - is the way they have been undermining— is the way they have been undermining britain's's. is the way they have been - undermining britain's's reputation. there _ undermining britain's's reputation. there has— undermining britain's's reputation. there has been— undermining britain's's reputation. there has been no— undermining britain's's reputation. there has been no long—term - undermining britain's's reputation. | there has been no long—term plan. undermining britain's's reputation. - there has been no long—term plan. we have just _ there has been no long—term plan. we have just come — there has been no long—term plan. we have just come out _ there has been no long—term plan. we have just come out of _ there has been no long—term plan. we have just come out of a _ there has been no long—term plan. we have just come out of a burrows - have just come out of a burrows johnson — have just come out of a burrows johnson government— have just come out of a burrows johnson government where - have just come out of a burrowsj johnson government where they have just come out of a burrows - johnson government where they were floundering _ johnson government where they were floundering around _ johnson government where they were floundering around and _ johnson government where they were floundering around and no _ johnson government where they were floundering around and no one - johnson government where they were floundering around and no one knew. floundering around and no one knew where _ floundering around and no one knew where the _ floundering around and no one knew where the government _ floundering around and no one knew where the government was - floundering around and no one knew where the government was going i floundering around and no one knew where the government was going or| where the government was going or what the _ where the government was going or what the economic— where the government was going or what the economic policy— where the government was going or what the economic policy was. - where the government was going orj what the economic policy was. what would ou what the economic policy was. what would you do _ what the economic policy was. would you do differently? what the economic policy was. what would you do differently? we - what the economic policy was. what would you do differently? we would| would you do differently? we would not have sacked _ would you do differently? we would not have sacked the _ would you do differently? we would not have sacked the person - would you do differently? we would not have sacked the person in - would you do differently? we would. not have sacked the person in charge of the _ not have sacked the person in charge of the treasury — not have sacked the person in charge of the treasury or— not have sacked the person in charge of the treasury or briefed _ not have sacked the person in charge of the treasury or briefed there - of the treasury or briefed there would _ of the treasury or briefed there would be — of the treasury or briefed there would be more _ of the treasury or briefed there would be more tax _ of the treasury or briefed there would be more tax changes - of the treasury or briefed there would be more tax changes in. of the treasury or briefed there . would be more tax changes in the future _ would be more tax changes in the future it— would be more tax changes in the future it is— would be more tax changes in the future. it is how— would be more tax changes in the future. it is how they— would be more tax changes in the future. it is how they did - would be more tax changes in the future. it is how they did it- would be more tax changes in the future. it is how they did it but. would be more tax changes in the| future. it is how they did it but we would _

future. it is how they did it but we would never— future. it is how they did it but we would never have _ future. it is how they did it but we would never have a _ future. it is how they did it but we would never have a budget - future. it is how they did it but wei would never have a budget without being _ would never have a budget without being some — would never have a budget without being some sort _ would never have a budget without being some sort of— would never have a budget without being some sort of independent i being some sort of independent analysis — being some sort of independent analysis. they— being some sort of independent analysis. they did _ being some sort of independent analysis. they did the _ being some sort of independent analysis. they did the mini - being some sort of independent. analysis. they did the mini budget without— analysis. they did the mini budget without the — analysis. they did the mini budget without the ob— analysis. they did the mini budget without the ob are. _ analysis. they did the mini budget without the ob are.— without the 0b are. presentation oll ? without the 0b are. presentation olly? more _ without the 0b are. presentation olly? more than _ without the 0b are. presentation olly? more than presentation - without the 0b are. presentation l olly? more than presentation olly. without the 0b are. presentation i olly? more than presentation olly. i reckless arrogant _ olly? more than presentation olly. i reckless arrogant way _ olly? more than presentation olly. i reckless arrogant way of _ olly? more than presentation olly. i reckless arrogant way of managing i reckless arrogant way of managing our economy — reckless arrogant way of managing our economy and _ reckless arrogant way of managing our economy and people _ reckless arrogant way of managing our economy and people are - our economy and people are suffering _ our economy and people are suffering. mortgage - our economy and people are suffering. mortgage rates i our economy and people are . suffering. mortgage rates have our economy and people are - suffering. mortgage rates have gone up suffering. mortgage rates have gone up and _ suffering. mortgage rates have gone up and people — suffering. mortgage rates have gone up and people are _ suffering. mortgage rates have gone up and people are frightened. - suffering. mortgage rates have gone up and people are frightened. just. up and people are frightened. just to clari , up and people are frightened. just to clarify. we _ up and people are frightened. to clarify, we know kwasi up and people are frightened.- to clarify, we know kwasi kwarteng is out as chancellor, we haven't absolutely confirmed whether he was sacked or whether this was some sort of mutual agreement. let's get more market reaction with our economics correspondent. any reaction so far to the fact kwasi kwarteng is no longer chancellor? this to the fact kwasi kwarteng is no longer chancellor?— longer chancellor? this is a sentence — longer chancellor? this is a sentence l _ longer chancellor? this is a sentence i have _ longer chancellor? this is a sentence i have got - longer chancellor? this is a sentence i have got used i longer chancellor? this is a j sentence i have got used to longer chancellor? this is a - sentence i have got used to altering but the reaction has been very muted, because it is not so much the man the markets are concerned about but the policies. we haven't seen

what is going to happen yet there. we saw some reaction earlier on the bond markets. they were looking a bit more relaxed, the kind of movement which on a normal day would look quite drastic but in the current scheme of things doesn't look major because of the wild swings of recent weeks but they are increasingly hopeful we will see a partial reversal of the tax cuts but those fundamental questions about the credibility of the government and their policies remain. they want to know how these policies, if we do see a reversal of tax cuts, what it means for growth and will receive that coming down in a few years and how does the new chancellor go about it? and what tax cuts remain and let's not forget the energy support package. how will all that funded because don't forget even if we do see some reversals there is still likely to be a bit of a hole for the government to fill. this idea the prime minister was touting that you could do all of this, so increase

spending and bring debt down in that still is something many economists think is impossible. i still is something many economists think is impossible.— think is impossible. i spoke to a coule of think is impossible. i spoke to a couple of senior _ think is impossible. i spoke to a couple of senior conservative i think is impossible. i spoke to a l couple of senior conservative mps pay back the tax—cutting agenda and saying the markets are reacting to all sorts of countries' economic policies, compared to high levels of inflation in holland and i interest rates in the us, are you hearing the same? it rates in the us, are you hearing the same? . rates in the us, are you hearing the same? , . , . . rates in the us, are you hearing the same? , . ,, same? it is fascinating because when ou look at same? it is fascinating because when you look at what _ same? it is fascinating because when you look at what the _ same? it is fascinating because when you look at what the markets - same? it is fascinating because when you look at what the markets have i you look at what the markets have been doing this is an unsettling time across many economies, so it is particularly liberal times for the markets but when you talk about what we have seen in the uk markets, there has been a more emphatic reaction here and the bank of england economists, the imf are all pointing towards domestic policy in particular. chancellor's job pointing towards domestic policy in particular. chancellor'sjob is to think how policies land when you already have markets in a very excitable state, it is always very

risky when you unveil major drastic plans like what we saw the former chancellor kwasi kwarteng doing. thank you. we are showing pictures of kwasi kwarteng arriving back in the uk earlier this morning and we now now he is out as chancellor and we will try to find out the nature of his departure but let's get some reaction from our panel. emily, you heard there from dharshini that the bond markets are, then i have been in recent weeks, the reaction generally is muted, it is about the policy. if there are and there is a u—turn on corporation tax things might come down, you accept that? brow seems to only be a word used in westminster— brow seems to only be a word used in westminster in — brow seems to only be a word used in westminster in relation _ brow seems to only be a word used in westminster in relation to _ brow seems to only be a word used in westminster in relation to the - westminster in relation to the economy— westminster in relation to the economy and _ westminster in relation to the economy and how _ westminster in relation to the economy and how have - westminster in relation to the economy and how have we - westminster in relation to the | economy and how have we got westminster in relation to the - economy and how have we got here —— for braille _ economy and how have we got here —— for braille. markets _ economy and how have we got here —— for braille. markets are _ economy and how have we got here —— for braille. markets are pricing - economy and how have we got here —— for braille. markets are pricing in- for braille. markets are pricing in there _ for braille. markets are pricing in there will— for braille. markets are pricing in there will be _ for braille. markets are pricing in there will be a _ for braille. markets are pricing in there will be a change _ for braille. markets are pricing in there will be a change but - for braille. markets are pricing in there will be a change but that i for braille. markets are pricing in there will be a change but that isj there will be a change but that is why it _ there will be a change but that is why it makes _ there will be a change but that is why it makes it— there will be a change but that is why it makes it even _ there will be a change but that is why it makes it even more - why it makes it even more important that there _ why it makes it even more important that there is — why it makes it even more important that there is a — why it makes it even more important that there is a change _ why it makes it even more important that there is a change because - why it makes it even more important that there is a change because they. that there is a change because they are holding — that there is a change because they

are holding their— that there is a change because they are holding their breath— that there is a change because they are holding their breath and - that there is a change because theyj are holding their breath and waiting to see _ are holding their breath and waiting to see what — are holding their breath and waiting to see what happens _ are holding their breath and waiting to see what happens next _ are holding their breath and waiting to see what happens next but - are holding their breath and waiting to see what happens next but is - to see what happens next but is presuming — to see what happens next but is presuming there _ to see what happens next but is presuming there will— to see what happens next but is presuming there will be - to see what happens next but is presuming there will be a - to see what happens next but isl presuming there will be a u—turn to see what happens next but is - presuming there will be a u—turn and it is the _ presuming there will be a u—turn and it is the policies _ presuming there will be a u—turn and it is the policies that _ presuming there will be a u—turn and it is the policies that are _ it is the policies that are pertinent _ it is the policies that are pertinent but _ it is the policies that are pertinent but there - it is the policies that are pertinent but there hasi it is the policies that are i pertinent but there has to it is the policies that are - pertinent but there has to be it is the policies that are _ pertinent but there has to be some form _ pertinent but there has to be some form of— pertinent but there has to be some form of accountability— pertinent but there has to be some form of accountability and - pertinent but there has to be some form of accountability and that - form of accountability and that credibility. _ form of accountability and that credibility, so— form of accountability and that credibility, so if— form of accountability and that credibility, so if liz— form of accountability and that credibility, so if liz truss - form of accountability and that credibility, so if liz truss does| credibility, so if liz truss does make — credibility, so if liz truss does make a — credibility, so if liz truss does make a u—turn _ credibility, so if liz truss does make a u—turn on _ credibility, so if liz truss does make a u—turn on all- credibility, so if liz truss does make a u—turn on all her- credibility, so if liz truss does i make a u—turn on all her policies and every— make a u—turn on all her policies and every thing _ make a u—turn on all her policies and every thing she _ make a u—turn on all her policies and every thing she stood - make a u—turn on all her policies and every thing she stood for- make a u—turn on all her policies and every thing she stood for the leadership, — and every thing she stood for the leadership. why— and every thing she stood for the leadership, why on _ and every thing she stood for the leadership, why on earth - and every thing she stood for the leadership, why on earth is - and every thing she stood for the leadership, why on earth is she l leadership, why on earth is she still remaining _ leadership, why on earth is she still remaining as— leadership, why on earth is she still remaining as prime - leadership, why on earth is she i still remaining as prime minister? that is— still remaining as prime minister? that is an — still remaining as prime minister? that is an issue, _ still remaining as prime minister? that is an issue, isn't— still remaining as prime minister? that is an issue, isn't it, - still remaining as prime minister? that is an issue, isn't it, john, - that is an issue, isn't it, john, because herfull that is an issue, isn't it, john, because her full leadership campaign was about cutting taxes and this plan for growth on the back of the taxes, we are supposed to be having an economic statement no longer from kwasi kwarteng on the 31st of october, does that all go? it kwasi kwarteng on the 31st of october, does that all go? it looks like it but the — october, does that all go? it looks like it but the whole _ october, does that all go? it looks like it but the whole point - october, does that all go? it looks like it but the whole point of- october, does that all go? it looks like it but the whole point of a - like it but the whole point of a prime minister is to be a leader and set a direction for the country. he said a direction for the country which has ended up in a total mess. it is only a couple of weeks ago liz truss was saying all of these policies in the mini budget were

essential for growth policies in the mini budget were essentialfor growth and policies in the mini budget were essential for growth and saying anyone who didn't back them was part of the anti—growth coalition and now she is permitting the policies she said was awful, it is hard to see how to patch things back together again. how to patch things back together aaain. ., f how to patch things back together again-- does— how to patch things back together again.- does she _ how to patch things back together again.- does she now- how to patch things back together again. tang? does she now think again. tony? does she now think kwasi kwarteng _ again. tony? does she now think kwasi kwarteng was _ again. tony? does she now think kwasi kwarteng was part - again. tony? does she now think kwasi kwarteng was part of - again. tony? does she now think kwasi kwarteng was part of the l kwasi kwarteng was part of the anti—growth coalition, sleeper agent all along _ anti—growth coalition, sleeper agent all along. another problem for her is what _ all along. another problem for her is what her— all along. another problem for her is what her mandate is now, she doesn't — is what her mandate is now, she doesn't have a mandate from the country _ doesn't have a mandate from the country to — doesn't have a mandate from the country to be prime minister, the way it— country to be prime minister, the way it works in this country for the conservative party chooses its own leader— conservative party chooses its own leader so _ conservative party chooses its own leader so a — conservative party chooses its own leader so a number of people elected her is _ leader so a number of people elected her is very— leader so a number of people elected her is very small but on the set of policies _ her is very small but on the set of policies she — her is very small but on the set of policies she has in some cases now abandoned — policies she has in some cases now abandoned so it is hard to see... the polling — abandoned so it is hard to see... the polling we saw yesterday showed that more _ the polling we saw yesterday showed that more than— the polling we saw yesterday showed that more than 60% _ the polling we saw yesterday showed that more than 60% of _ the polling we saw yesterday showed that more than 60% of conservative i that more than 60% of conservative voters _ that more than 60% of conservative voters believe — that more than 60% of conservative voters believe the _ that more than 60% of conservative voters believe the conservative - voters believe the conservative party— voters believe the conservative party made _ voters believe the conservative party made a _ voters believe the conservative party made a mistake - voters believe the conservative party made a mistake in - voters believe the conservative i party made a mistake in selecting part~ _ party made a mistake in selecting art. , party made a mistake in selecting art, , ., , , , part. they might have buyers in words in that _ part. they might have buyers in words in that sense, _ part. they might have buyers in words in that sense, the - part. they might have buyers in - words in that sense, the expression of lame—duck minister, would you use that phrase for liz truss, charlotte? it that phrase for liz truss, charlotte?— that phrase for liz truss, charlotte? , . , , , charlotte? it is remarkable because in theory she _ charlotte? it is remarkable because in theory she has _ charlotte? it is remarkable because

in theory she has a _ charlotte? it is remarkable because in theory she has a majority - charlotte? it is remarkable because in theory she has a majority of- in theory she has a majority of about— in theory she has a majority of about 80 _ in theory she has a majority of about 80 and that doesn't seem to be working _ about 80 and that doesn't seem to be working in— about 80 and that doesn't seem to be working in practice. i rubberwaking up working in practice. i rubberwaking up in _ working in practice. i rubberwaking up in the _ working in practice. i rubberwaking up in the morning at tory conference seeing _ up in the morning at tory conference seeing the _ up in the morning at tory conference seeing the u—turn on the 45p rate of tax and _ seeing the u—turn on the 45p rate of tax and pass— seeing the u—turn on the 45p rate of tax and pass myself outside the conference centre tapping away on my laptop— conference centre tapping away on my laptop writing and past comes a government minister who was looking distressed _ government minister who was looking distressed about old thing and said the problem with this budget or this mini budget is it made us look incompetent but we have doubled stamp _ incompetent but we have doubled stamp on — incompetent but we have doubled stamp on competence by you turning so we _ stamp on competence by you turning so we have _ stamp on competence by you turning so we have to fix the problem, then a backbencher had glee in their eyes saying _ a backbencher had glee in their eyes saying fantastic, we know we can force _ saying fantastic, we know we can force a _ saying fantastic, we know we can force a u—turn when we want to and we will— force a u—turn when we want to and we will do _ force a u—turn when we want to and we will do it— force a u—turn when we want to and we will do it again and he pointed towards _ we will do it again and he pointed towards the universal credit uplift but also _ towards the universal credit uplift but also we are seeing it didn't have _ but also we are seeing it didn't have to — but also we are seeing it didn't have to wait that long. we have other policies _ have to wait that long. we have other policies like _ have to wait that long. we have other policies like increasing i other policies like increasing benefits in line with inflation rather than earnings, there have also been discussions with conservative mps in the studio saying that perhaps there should be a delay to a cut in the basic rate of income tax, another key policy and perhaps easily won that might remain would be the reversal of the national insurance contributions

increase, do you think that is a possibility? brute increase, do you think that is a possibility?— increase, do you think that is a ossibili ? ~ . , . possibility? we are expecting the income tax _ possibility? we are expecting the income tax cut _ possibility? we are expecting the income tax cut to _ possibility? we are expecting the income tax cut to still _ possibility? we are expecting the income tax cut to still be - income tax cut to still be government policy this afternoon. it is possible it could be delayed but these aren't the only policies some tory mps are cross about, there are also tory mps working with labour to try to stop the government bringing back fracking, another issue that could come to the commons in the next couple weeks, the issue with the benefits uplift, will it write inflation or with earnings, one source was crowded to me as poor or five different pressure points to the government they think they can drive a wedge between the party and government and they say liz truss has a majority of 80 seats but it only takes 35 tory mps to vote against the government and they have against the government and they have a defeat in the commons and then it starts to look dangerous. he a defeat in the commons and then it starts to look dangerous.— starts to look dangerous. he looked back to the — starts to look dangerous. he looked back to the results _ starts to look dangerous. he looked back to the results of _ starts to look dangerous. he looked back to the results of the _ starts to look dangerous. he looked back to the results of the tory - back to the results of the tory leadership contest, in the last round — leadership contest, in the last round of— leadership contest, in the last round of voting tory mps she only scraped _ round of voting tory mps she only scraped into the final two by a few votes. _ scraped into the final two by a few votes. she — scraped into the final two by a few votes, she got less than a third of the pulse — votes, she got less than a third of the pulse of tory mps, so lots of

tory _ the pulse of tory mps, so lots of tory mps — the pulse of tory mps, so lots of tory mps who aren't national liz truss— tory mps who aren't national liz truss backers and you really struggle _ truss backers and you really struggle to see how she manages to brin- struggle to see how she manages to bring them on now, a lot of them will take, — bring them on now, a lot of them will take, a — bring them on now, a lot of them will take, a lot of people got sacked — will take, a lot of people got sacked in the reshuffle, a lot of foreign— sacked in the reshuffle, a lot of foreign minister is on the backbenches who whether they are i’i l ht backbenches who whether they are right or _ backbenches who whether they are right or wrong think they would be better— right or wrong think they would be better in— right or wrong think they would be better in cabinet and they are now thinking _ better in cabinet and they are now thinking the only way they managed to withstand my career and get back on ministerial department is to get rid of— on ministerial department is to get rid of liz— on ministerial department is to get rid of liz truss and they will keep going _ rid of liz truss and they will keep going and — rid of liz truss and they will keep going and going until they managed to get— going and going until they managed to get rid _ going and going until they managed to get rid of her. if going and going until they managed to get rid of her.— to get rid of her. if there is a cominu to get rid of her. if there is a coming of — to get rid of her. if there is a coming of the _ to get rid of her. if there is a coming of the markets - to get rid of her. if there is a coming of the markets which to get rid of her. if there is a - coming of the markets which has been one of the major or the major issues that has destabilised the party and to some extent the economy, if that does, down, tory mps are thinking about the next election whenever thatis about the next election whenever that is going to be, probably in 2024, maybe they willjust that is going to be, probably in 2024, maybe they will just stick with liz truss, depending on who she brings in as chancellor, particularly if she proceeds

somebody from the rishi sunak wing of the party, can you see a period of the party, can you see a period of calm and stability? i of the party, can you see a period of calm and stability?— of the party, can you see a period of calm and stability? i wouldn't go for callum and _ of calm and stability? i wouldn't go for callum and stability, _ of calm and stability? i wouldn't go for callum and stability, may - of calm and stability? i wouldn't go for callum and stability, may a - of calm and stability? i wouldn't go for callum and stability, may a war| for callum and stability, may a war of attrition there you have issues byissue of attrition there you have issues by issue defeat from its own mps. i would add to that is another font size sorry for liz truss to content with comic you heard from john and tony about the various discontents we didn't agree with her initial policies, actually there are still some true believers who did agree with her mini budget and they were telling me that they would be furious if she did a u—turn so she has another thing to content with. let's talk to our political editor chris mason. we are respecting this press conference from prime minister liz truss, having agreed with her chancellor that he is gone, what we expecting her to say? brute chancellor that he is gone, what we expecting her to say?— expecting her to say? we are expecting _ expecting her to say? we are expecting her _ expecting her to say? we are expecting her to _ expecting her to say? we are expecting her to junk - expecting her to say? we are expecting her to junk some i expecting her to say? we are | expecting her to junk some of expecting her to say? we are - expecting her to junk some of that mini budget, that is the reality of what will happen. no suggestion it will be anything other than that. it

seems to me what is intriguing, a lot is intriguing, one of the things particular intriguing is the choreography of today if what is happening deserves that particular word, the description, is when this news conference happens in the coming hours at some point this afternoon, clearly the first question if this question isn't answered already by then is is the new chancellor? that is a big question the prime minister has the answer, where you would assume that absolutely central to that appointment would be somebody who is seen to be credible because this is about a battle of credibility with her own party, with the electorate, of course, and with those markets in the city. there are a couple of people in parliament who are former chancellors you might look at the cds and think i have done the job which would be a contributor to that sense of credibility, one of them is rishi sunak, so we can probably

suspect that is a job he is not particularly keen on in the current circumstances, and the other is sajid javid. then there is the thought that liz truss might have which is you bring in somebody close to you politically you get on with and all the rest of it, someone perhaps like to rest coffee, the health secretary and deputy prime minister, but one assumes they will want to answer that question before the likes of me and others ask it and if you are going to do a news conference on a friday afternoon to try and save the markets presumably you don't want to headline from that news conference to be that you haven't got a chancellor. absolutely. as we know vacuums and politics are very dangerous places to be even if it is only a matter of hours because of speculation as we now started yesterday. certainly with the u—turn on corporation tax policy and then with the fight of kwasi kwarteng. you will know there has been speculation over the last 24—hour is about what could come in

kwasi kwarteng's place, you mentioned rishi sunak, whether they would be some sort of unity ticket, is all of that just fevered speculation? is all of that 'ust fevered speculation?_ is all of that 'ust fevered speculation? is all of that 'ust fevered seculation? , . ., ., speculation? there is a lot of fevered speculation. - speculation? there is a lot of fevered speculation. this - speculation? there is a lot of fevered speculation. this is l speculation? there is a lot of fevered speculation. this is a postcode for love that even in the most serene times but what is different about it at the moment is the depth and breadth of it. if you speak to people at every level of the conservative party from the cabinet down, they're a very serious conversations going on about how the next few weeks and months might pan out, yesterday there were serious conversations about the career longevity in the treasury of kwasi kwarteng, also about the prime minister next door, and there are conservatives who are thinking how do we prop ourselves up in government? some make the argument, and we should make this point, they absolutely don't want to see a contest or coronation and liz truss

has won an election to be conservative leader and she should carry on, even if there is some reformulation on her outlook of how she does thejob, reformulation on her outlook of how she does the job, perhaps an acceptance that she has a brand of politics within conservatism but it hasn't worked or appealed to a sufficient number of people so she will attack to a different place and build a team that reflects that. also there is the argument that she is so short through credibility wise and the polls are tanking and pound, therefore someone else will have to comment but among the contingent that are openly talking about an alternative prime minister, the vast majority say what you cannot have a situation where there is a contest like over the summer in conservative party members because itjust takes forever and that would be literally incredible. getting to a point even if this prime minister were to want to go or was forced out, where there was that single unity candidate in a party that isn't screaming unity at

the moment, it is a pretty difficult place to get to even for those who would want to get to it. the place to get to even for those who would want to get to it.— would want to get to it. the issue of a mandate _ would want to get to it. the issue of a mandate is _ would want to get to it. the issue of a mandate is important, - of a mandate is important, particularly so over the last few weeks, and today liz truss has got to try and pull almost an impossible trick to calm the markets and her party, and voters. is it possible for her to divorce herself from the economic prospectus that was set out by kwasi kwarteng when it was the very basis of the leadership campaign that she ran in the summer and many of her supporters say we shouldn't be surprised by what was unveiled, maybe the way it was unveiled, maybe the way it was unveiled but not what was unveiled. in the mini budget ill—fated as it turns out to be on the 23rd of september. there is no doubt what the prime minister will have to do this afternoon will be humiliating. that is just baked afternoon will be humiliating. that isjust baked in, a baked in reality, of having to hold a press conference on a day that you've lost

your chancellor and you are junking another element, however big or small what is coming is, another element of your prospectus for government, because it wasn'tjust a mini budget, this was the roll—out of liz truss's prospectus for government that she had campaigned on. yes, there were elements that were a surprise, but certainly those big tax cuts were preannounced and whether central dividing line between her and rishi sunak over the summer so that will be deeply, deeply uncomfortable. the question for her politically will be if she chunks a lot of that stuff economically and that can contribute to calming the markets, is she willing to tack to a different place politically, perhaps make an argument that says i'm a pragmatist, i have to govern from a different place from the one where it is my home but i respect there isn't an overwhelming desire for that at the moment and you build a team to reflect that and try and carry on, i guess that's one option, if you carry on you have to be pragmatic

and try and build a team that can ensure your party, the markets and more broad of the country will allow that to happen. more broad of the country will allow that to happen-— that to happen. chris mason, the bbc's political — that to happen. chris mason, the bbc's political editor, _ that to happen. chris mason, the bbc's political editor, thank - that to happen. chris mason, the bbc's political editor, thank you. j bbc's political editor, thank you. in just over bbc's political editor, thank you. injust over an bbc's political editor, thank you. in just over an hour's time we are expecting liz truss to speak at that press conference. she will be asked all the sorts of questions. let's go back to the moment at the beginning of the programme to remind you it's just over four weeks of the programme to remind you it's just overfour weeks ago of the programme to remind you it's just over four weeks ago that liz truss did become prime minister. she is going to have an awful lot to do and say up 2pm. you remember, charlotte, at the tory party conference, both kwasi kwarteng as chancellor and liz truss saying, i get it, i get it, i've heard, i've listened and we are changing things, we are going to be pragmatic. is that going to wash, do you think, this afternoon? i that going to wash, do you think, this afternoon?— that going to wash, do you think, this afternoon? i think there's the ruestion this afternoon? i think there's the question of _ this afternoon? i think there's the question of whether _ this afternoon? i think there's the question of whether it _ this afternoon? i think there's the question of whether it will - this afternoon? i think there's the question of whether it will wash i question of whether it will wash with the — question of whether it will wash with the markets. we've heard the markets _ with the markets. we've heard the markets are somewhat stable today relative _ markets are somewhat stable today relative to _ markets are somewhat stable today relative to where they have been, there _ relative to where they have been, there is— relative to where they have been, there is the question of whether it will wash— there is the question of whether it will wash with voters. the

conservatives are struggling in the polls. _ conservatives are struggling in the polls. 19%— conservatives are struggling in the polls, 19% last night, that's a remarkable number and this is meant to be the _ remarkable number and this is meant to be the honeymoon period. i think it will— to be the honeymoon period. i think it will be _ to be the honeymoon period. i think it will be very tricky for liz truss to come — it will be very tricky for liz truss to come back on that front. john curtis, _ to come back on that front. john curtis, the — to come back on that front. john curtis, the polling expert, talking about— curtis, the polling expert, talking about this — curtis, the polling expert, talking about this is essentially a situation that is impossible to come back from _ situation that is impossible to come back from yesterday. then there is the question of whether this washes with conservative mps and i think that is— with conservative mps and i think that is probably the most immediate threat _ that is probably the most immediate threat we _ that is probably the most immediate threat. we are not going to get a general— threat. we are not going to get a general election tomorrow. conservatives mps will i think be watching — conservatives mps will i think be watching this afternoon like a hawk. there _ watching this afternoon like a hawk. there is _ watching this afternoon like a hawk. there is a _ watching this afternoon like a hawk. there is a real sense they need liz truss— there is a real sense they need liz truss to _ there is a real sense they need liz truss to get — there is a real sense they need liz truss to get a grip and to present a full agenda — truss to get a grip and to present a full agenda for government. i don't think— full agenda for government. i don't think this _ full agenda for government. i don't think this u—turn by itself will cut the mustard. what is saving her is the mustard. what is saving her is the fact— the mustard. what is saving her is the fact that conservative mps at the fact that conservative mps at the moment do not seem to be able to find someone else they all want to unite _ find someone else they all want to unite behind.— unite behind. that's always the issue, unite behind. that's always the issue. isn't _ unite behind. that's always the issue, isn't it, _ unite behind. that's always the issue, isn't it, finding - unite behind. that's always the i issue, isn't it, finding consensus around a replacement, if it were to come to that in the way that perhaps borisjohnson was when theresa may ran into difficulties and that is still very much the case now? yes.

still very much the case now? yes, that is the — still very much the case now? yes, that is the case _ still very much the case now? yes, that is the case now _ still very much the case now? yes, that is the case now and _ still very much the case now? yes, that is the case now and if - still very much the case now? yes, that is the case now and if you - still very much the case now? is: that is the case now and if you were approached by a group of conservative backbenchers who said to you, do you fancy being prime minister at the moment, you may well say, no, idon't, because it's minister at the moment, you may well say, no, i don't, because it's going to be difficult to turn it around. the thing that tory mps are trying to avoid is a general election because there is a feeling with the current position in the polls if there was to be a general election now it will be a complete landslide for labour so the game plan for tory mps' point of view is to hold out for as long as possible, hope the markets recover, hope their polling position recovers and i was talking to one senior minister this week said they felt that if liz truss was able to calm the markets this week that perhaps by christmas the party could be in a better position, perhaps six months after that they might be safe enough to go to the country but it's a race to find someone. it country but it's a race to find someone-— country but it's a race to find someone. , , , . someone. it must be so frustrating for ou, someone. it must be so frustrating for you. emily _ someone. it must be so frustrating for you, emily thornberry, - someone. it must be so frustrating for you, emily thornberry, to - someone. it must be so frustrating for you, emily thornberry, to be i someone. it must be so frustrating for you, emily thornberry, to be in | for you, emily thornberry, to be in opposition at a time when you can't affect a general election easily, you would need conservative mps to join you in some sort of no

confidence motion. you are said to be across a spread of polls anything between 17 and 30 points ahead. is any of it down to what labour is doing, or is it all in reaction to what's happening within the conservatives? i what's happening within the conservatives?— what's happening within the conservatives? , ~ conservatives? i genuinely think what's most _ conservatives? i genuinely think what's most frustrating - conservatives? i genuinely think what's most frustrating is - conservatives? i genuinely think what's most frustrating is that l conservatives? i genuinely thinkl what's most frustrating is that we can't _ what's most frustrating is that we can't influence _ what's most frustrating is that we can't influence policy. _ what's most frustrating is that we can't influence policy. we - what's most frustrating is that we can't influence policy. we try, - what's most frustrating is that we| can't influence policy. we try, and we do _ can't influence policy. we try, and we do ©— can't influence policy. we try, and we do 6 , ., ., can't influence policy. we try, and wedoc ., can't influence policy. we try, and wedo gr ., ., we do @ you do, you got your freeze on the energy. _ we do @ you do, you got your freeze on the energy. you _ we do @ you do, you got your freeze on the energy, you got _ we do @ you do, you got your freeze on the energy, you got your- we do @ you do, you got your freeze on the energy, you got your energy i on the energy, you got your energy tax... �* ., ., ., ., tax... but not enough, not as if we were in charge _ tax... but not enough, not as if we were in charge now, _ tax... but not enough, not as if we were in charge now, that's - tax... but not enough, not as if we were in charge now, that's the - tax... but not enough, not as if we l were in charge now, that's the point and do _ were in charge now, that's the point and do you — were in charge now, that's the point and do you remember, _ were in charge now, that's the point and do you remember, listening - were in charge now, that's the point and do you remember, listening to. and do you remember, listening to the conversation, _ and do you remember, listening to the conversation, i— and do you remember, listening to the conversation, i remember- and do you remember, listening to the conversation, i remember a i and do you remember, listening tol the conversation, i remember a few months _ the conversation, i remember a few months back— the conversation, i remember a few months back when— the conversation, i remember a few months back when boris _ the conversation, i remember a few months back when boris johnson i the conversation, i remember a few. months back when boris johnson was found _ months back when boris johnson was found guilty— months back when boris johnson was found guilty of— months back when boris johnson was found guilty of breaking _ months back when boris johnson was found guilty of breaking the - months back when boris johnson was found guilty of breaking the law- months back when boris johnson was found guilty of breaking the law and. found guilty of breaking the law and tory mps _ found guilty of breaking the law and tory mps were _ found guilty of breaking the law and tory mps were telling _ found guilty of breaking the law and tory mps were telling us _ found guilty of breaking the law and tory mps were telling us now - found guilty of breaking the law and| tory mps were telling us now wasn't the time _ tory mps were telling us now wasn't the time to— tory mps were telling us now wasn't the time to get— tory mps were telling us now wasn't the time to get rid _ tory mps were telling us now wasn't the time to get rid of— tory mps were telling us now wasn't the time to get rid of the _ tory mps were telling us now wasn't the time to get rid of the prime - the time to get rid of the prime minister— the time to get rid of the prime minister and _ the time to get rid of the prime ministerand get— the time to get rid of the prime minister and get another- the time to get rid of the prime minister and get another one i the time to get rid of the prime - minister and get another one because we were _ minister and get another one because we were at— minister and get another one because we were at war. — minister and get another one because we were at war. do— minister and get another one because we were at war, do you _ minister and get another one because we were at war, do you remember- we were at war, do you remember that? _ we were at war, do you remember that? now— we were at war, do you remember that? now these _ we were at war, do you remember that? now these are _ we were at war, do you remember that? now these are the _ we were at war, do you remember that? now these are the same - we were at war, do you rememberl that? now these are the same tory mps who— that? now these are the same tory mps who are — that? now these are the same tory mps who are rushing _ that? now these are the same tory mps who are rushing around - that? now these are the same tory mps who are rushing around trying | that? now these are the same tory. mps who are rushing around trying to find someone — mps who are rushing around trying to find someone to— mps who are rushing around trying to find someone to replace _ mps who are rushing around trying to find someone to replace the - mps who are rushing around trying to find someone to replace the prime i find someone to replace the prime minister— find someone to replace the prime minister and — find someone to replace the prime minister and that— find someone to replace the prime minister and that will— find someone to replace the prime minister and that will be _ find someone to replace the prime minister and that will be the - find someone to replace the prime minister and that will be the third i minister and that will be the third prime _ minister and that will be the third prime minister— minister and that will be the third prime minister in _ minister and that will be the third prime minister in two _ minister and that will be the third prime minister in two months. i minister and that will be the third . prime minister in two months. john? prime minister in two months. john? i think the problem _

prime minister in two months. john? i think the problem tory _ prime minister in two months. john? i think the problem tory mps - prime minister in two months. john? i think the problem tory mps have i i think the problem tory mps have got, they've got loads of problems, but one of the main one is as if they try and replace the prime minister we end up with a tory leadership election, that would lead a massive vacuum, it would be like the summer when nothing was happening with energy bills, it went on and on forever. if they try and avoid that and do some sort of combination, number one, it's hard forthem combination, number one, it's hard for them to agree on who to pick, they all hate each other, they have different factions, i struggle to see who they can see they can coalesce around but if they do that there will be questions from the public about who exactly has voted for this. we've seen that with liz truss, people kept saying, who has voted for this? that is the lip line labour has repeatedly used, who has voted for this? the answer for liz truss was about 80,000 tory members. if you get another pm who has just been appointed, hasn't even been appointed through a vote of tory members or mps, they've literally just been hand picked and pushed in, i think that will increase pressure for a general election and i think a

lot of people around the country will think what on earth, when did we have our say about these policies that have been picked by the government?— that have been picked by the government? that have been picked by the covernment? ., �* . , , , government? you've raised the issue of a general — government? you've raised the issue of a general election. _ government? you've raised the issue of a general election. now— government? you've raised the issue of a general election. now is - government? you've raised the issue of a general election. now is the - of a general election. now is the time for labour to be setting out concrete plans, emily thornberry, beyond what we've heard at party conference. what would you do, let's say labour is in power next week, to calm the markets? what would you do about the level of borrowing? give us some of the policies that labour would take right now and change the country? x�*t�*ou would take right now and change the count ? ., , . country? you see, here we are, we don't know— country? you see, here we are, we don't know what _ country? you see, here we are, we don't know what the _ country? you see, here we are, we don't know what the government i country? you see, here we are, we don't know what the government is about— don't know what the government is about to _ don't know what the government is about to do. — don't know what the government is about to do. they— don't know what the government is about to do, they have _ don't know what the government is about to do, they have no - don't know what the government is about to do, they have no idea - don't know what the government is about to do, they have no idea as i about to do, they have no idea as far as _ about to do, they have no idea as far as i _ about to do, they have no idea as far as i can— about to do, they have no idea as far as i can tell, _ about to do, they have no idea as far as i can tell, you _ about to do, they have no idea as far as i can tell, you can't- about to do, they have no idea as far as i can tell, you can't even. far as i can tell, you can't even -et far as i can tell, you can't even get a _ far as i can tell, you can't even get a conservative _ far as i can tell, you can't even get a conservative mp - far as i can tell, you can't even get a conservative mp to - far as i can tell, you can't evenj get a conservative mp to come far as i can tell, you can't even. get a conservative mp to come on far as i can tell, you can't even- get a conservative mp to come on now to tell— get a conservative mp to come on now to tell you — get a conservative mp to come on now to tell you what _ get a conservative mp to come on now to tell you what their _ get a conservative mp to come on now to tell you what their policy _ get a conservative mp to come on now to tell you what their policy is. - to tell you what their policy is. i'm to tell you what their policy is. im glad — to tell you what their policy is. im glad you _ to tell you what their policy is. i'm glad you reminded - to tell you what their policy is. i'm glad you reminded me - to tell you what their policy is. i'm glad you reminded me of. to tell you what their policy is. - i'm glad you reminded me of that, we did ask the government foreign but none was available. so did ask the government foreign but none was available.— did ask the government foreign but none was available. so we don't even know what it — none was available. so we don't even know what it is _ none was available. so we don't even know what it is we _ none was available. so we don't even know what it is we are _ none was available. so we don't even know what it is we are responding i know what it is we are responding to, we _ know what it is we are responding to, we don't— know what it is we are responding to, we don't know— know what it is we are responding to, we don't know what _ know what it is we are responding to, we don't know what the - know what it is we are responding to, we don't know what the statei know what it is we are responding i to, we don't know what the state of the economy— to, we don't know what the state of the economy will— to, we don't know what the state of the economy will be, _ to, we don't know what the state of the economy will be, we _ to, we don't know what the state of

the economy will be, we haven't . to, we don't know what the state ofl the economy will be, we haven't had the economy will be, we haven't had the 0br~ _ the economy will be, we haven't had the obr. ., , , the obr. that sounds very reactive, the obr. that sounds very reactive, the labour party _ the obr. that sounds very reactive, the labour party can _ the obr. that sounds very reactive, the labour party can still _ the obr. that sounds very reactive, the labour party can still have - the obr. that sounds very reactive, the labour party can still have a - the labour party can still have a firm narrative when it comes to the economy and instead of reacting to what has been set out by what you see as a sort of defunct conservative government, surely there must be no more concrete policies for the public to look at to give you a hearing and to say, yes, we'd like you in. what would they be? yes, we'd like you in. what would the be? . yes, we'd like you in. what would the be? , , ., they be? the first thing is we do need to see _ they be? the first thing is we do need to see what _ they be? the first thing is we do need to see what the _ they be? the first thing is we do need to see what the obr - they be? the first thing is we do need to see what the obr says i they be? the first thing is we do - need to see what the obr says about the state _ need to see what the obr says about the state of _ need to see what the obr says about the state of the — need to see what the obr says about the state of the country _ need to see what the obr says about the state of the country thus - need to see what the obr says about the state of the country thus like - the state of the country thus like the state of the country thus like the office — the state of the country thus like the office for— the state of the country thus like the office for budget _ the office for budget responsibility. - the office for budget responsibility. theyi the office for budget i responsibility. they are the office for budget _ responsibility. they are independent and we _ responsibility. they are independent and we can— responsibility. they are independent and we can get— responsibility. they are independent and we can get to— responsibility. they are independent and we can get to the _ responsibility. they are independent and we can get to the truth - responsibility. they are independent and we can get to the truth of - responsibility. they are independent and we can get to the truth of how. and we can get to the truth of how bad the _ and we can get to the truth of how bad the situation _ and we can get to the truth of how bad the situation is. _ and we can get to the truth of how bad the situation is. we _ and we can get to the truth of how bad the situation is. we have - and we can get to the truth of how bad the situation is. we have set i bad the situation is. we have set out some — bad the situation is. we have set out some very _ bad the situation is. we have set out some very radical _ bad the situation is. we have set out some very radical and - bad the situation is. we have set out some very radical and very. out some very radical and very important _ out some very radical and very important policies _ out some very radical and very important policies looking - out some very radical and very important policies looking to i out some very radical and very. important policies looking to the future, _ important policies looking to the future, particularly _ important policies looking to the future, particularly around - important policies looking to the i future, particularly around keeping energy— future, particularly around keeping energy and — future, particularly around keeping energyand the— future, particularly around keeping energy and the way— future, particularly around keeping energy and the way in— future, particularly around keeping energy and the way in which - future, particularly around keeping energy and the way in which we - future, particularly around keeping. energy and the way in which we would ensure _ energy and the way in which we would ensure that _ energy and the way in which we would ensure that we — energy and the way in which we would ensure that we can _ energy and the way in which we would ensure that we can cut _ energy and the way in which we would ensure that we can cut our— energy and the way in which we would ensure that we can cut our energy- ensure that we can cut our energy bills. — ensure that we can cut our energy bills. we _ ensure that we can cut our energy bills. we can — ensure that we can cut our energy bills, we can become _ ensure that we can cut our energy bills, we can become self... - bills, we can become self... including _ bills, we can become self... including £28 _ bills, we can become self... including £28 billion- bills, we can become self... including £28 billion a - bills, we can become self... including £28 billion a year. bills, we can become self... i including £28 billion a year on bills, we can become self... - including £28 billion a year on your climate policies, adding to borrowing, which would probably still in the next few years in the

region of around £100 billion. band region of around £100 billion. and that would be within real fiscal rules— that would be within real fiscal rules that _ that would be within real fiscal rules that we _ that would be within real fiscal rules that we stick _ that would be within real fiscal rules that we stick to, - that would be within real fiscal rules that we stick to, so - that would be within real fiscal rules that we stick to, so you i rules that we stick to, so you borrow — rules that we stick to, so you borrow in _ rules that we stick to, so you borrow in order— rules that we stick to, so you borrow in order to _ rules that we stick to, so you borrow in order to invest. - rules that we stick to, so you i borrow in order to invest. you rules that we stick to, so you - borrow in order to invest. you never borrow _ borrow in order to invest. you never borrow in _ borrow in order to invest. you never borrow in order— borrow in order to invest. you never borrow in order to _ borrow in order to invest. you never borrow in order to cut _ borrow in order to invest. you never borrow in order to cut taxes, - borrow in order to invest. you never borrow in order to cut taxes, that i borrow in order to cut taxes, that is not _ borrow in order to cut taxes, that is not the — borrow in order to cut taxes, that is not the way— borrow in order to cut taxes, that is not the way you _ borrow in order to cut taxes, that is not the way you do _ borrow in order to cut taxes, that is not the way you do it, - borrow in order to cut taxes, that is not the way you do it, and - borrow in order to cut taxes, that is not the way you do it, and you| is not the way you do it, and you would _ is not the way you do it, and you would get — is not the way you do it, and you would get another— is not the way you do it, and you would get another government i is not the way you do it, and you i would get another government that the people — would get another government that the people would _ would get another government that the people would have _ would get another government that the people would have some - would get another government that the people would have some faith i would get another government that i the people would have some faith in. we need _ the people would have some faith in. we need to— the people would have some faith in. we need to have _ the people would have some faith in. we need to have a _ the people would have some faith in. we need to have a change. _ the people would have some faith in. we need to have a change. you - the people would have some faith in. i we need to have a change. you cannot io we need to have a change. you cannot go on _ we need to have a change. you cannot go on like _ we need to have a change. you cannot go on like this — we need to have a change. you cannot go on like this we _ we need to have a change. you cannot go on like this. we need _ we need to have a change. you cannot go on like this. we need to— we need to have a change. you cannot go on like this. we need to have - go on like this. we need to have responsible _ go on like this. we need to have responsible finances, _ go on like this. we need to have responsible finances, strong - go on like this. we need to have i responsible finances, strong fiscal rules— responsible finances, strong fiscal rules and — responsible finances, strong fiscal rules and we — responsible finances, strong fiscal rules and we need _ responsible finances, strong fiscal rules and we need to _ responsible finances, strong fiscal rules and we need to have - responsible finances, strong fiscal rules and we need to have fair, i responsible finances, strong fiscal l rules and we need to have fair, long term _ rules and we need to have fair, long term growth— rules and we need to have fair, long term growth with _ rules and we need to have fair, long term growth with a _ rules and we need to have fair, long term growth with a real— rules and we need to have fair, long term growth with a real plan - rules and we need to have fair, long term growth with a real plan for- rules and we need to have fair, long term growth with a real plan for it. i term growth with a real plan for it. let's _ term growth with a real plan for it. let's have — term growth with a real plan for it. let's have a — term growth with a real plan for it. let's have a look— term growth with a real plan for it. let's have a look at _ term growth with a real plan for it. let's have a look at this _ term growth with a real plan for it. let's have a look at this tweet - term growth with a real plan for it. | let's have a look at this tweet from the political editor at newsnight, nicholas watt, a group of senior tories have been holding discussions and have decided the following. the sacking of kwasi kwarteng will prompt them to come out publicly next week and call on liz truss to resign. my source, these are serious people, the pm will find it difficult to survive. charlotte ivers, what do you make of that? well, it depends what nick means by senior tories because there are any number of different groups of people who are currently plotting so it

could be any number of different groups that he is speaking about there. i think it will be immensely tricky for liz truss over the next few days. all eyes will be on that press conference and there are a lot of mps frankly who just want all of this to go away. they are crying out for her to say something tonight this afternoon i should say, to reassure them because they hope that might stabilise the markets, that they can slope on through while they get their act together, while they work out what's next, whereas if she cannot assuage those people who are a bit more moderate on her as an issue then we may see something rather chaotic happening. but issue then we may see something rather chaotic happening.- rather chaotic happening. but it's also the people _ rather chaotic happening. but it's also the people outside - rather chaotic happening. but it's also the people outside the - also the people outside the westminster bubble. it’s also the people outside the westminster bubble. �* , . westminster bubble. it's also those eo - le who westminster bubble. it's also those people who are _ westminster bubble. it's also those people who are really _ westminster bubble. it's also those people who are really worried - westminster bubble. it's also those j people who are really worried about what the _ people who are really worried about what the next — people who are really worried about what the next mortgage _ people who are really worried about what the next mortgage demand i people who are really worried about what the next mortgage demand is| what the next mortgage demand is going _ what the next mortgage demand is going to _ what the next mortgage demand is going to be — what the next mortgage demand is going to be. whilst— what the next mortgage demand is going to be. whilst all— what the next mortgage demand is going to be. whilst all this - what the next mortgage demand is going to be. whilst all this chaos i going to be. whilst all this chaos goes _ going to be. whilst all this chaos goes on — going to be. whilst all this chaos goes on and _ going to be. whilst all this chaos goes on and we _ going to be. whilst all this chaos goes on and we talk _ going to be. whilst all this chaos goes on and we talk about - going to be. whilst all this chaos goes on and we talk about who i going to be. whilst all this chaos| goes on and we talk about who is going _ goes on and we talk about who is going to — goes on and we talk about who is going to be — goes on and we talk about who is going to be prime _ goes on and we talk about who is going to be prime minister, - goes on and we talk about who is going to be prime minister, whoi going to be prime minister, who isn't _ going to be prime minister, who isn't going — going to be prime minister, who isn't going to _ going to be prime minister, who isn't going to be _ going to be prime minister, who isn't going to be prime - going to be prime minister, who| isn't going to be prime minister, it's the _ isn't going to be prime minister, it's the reality _ isn't going to be prime minister, it's the reality of _ isn't going to be prime minister, it's the reality of people's - isn't going to be prime minister, it's the reality of people's lives i it's the reality of people's lives who have — it's the reality of people's lives who have already— it's the reality of people's lives who have already had - it's the reality of people's lives who have already had such - it's the reality of people's lives who have already had such a i it's the reality of people's lives i who have already had such a hard time _ who have already had such a hard time in _ who have already had such a hard time in this— who have already had such a hard time in this crisis _ who have already had such a hard time in this crisis is— who have already had such a hard time in this crisis is made - who have already had such a hard time in this crisis is made in- time in this crisis is made in downing _ time in this crisis is made in downing street, _ time in this crisis is made in downing street, what - time in this crisis is made in downing street, what are i time in this crisis is made in. downing street, what are they time in this crisis is made in- downing street, what are they going to do to _ downing street, what are they going to do to get — downing street, what are they going to do to get out _ downing street, what are they going to do to get out of _ downing street, what are they going to do to get out of it? _ downing street, what are they going to do to get out of it? i— downing street, what are they going to do to get out of it? i spoke -

downing street, what are they going to do to get out of it? i spoke to - to do to get out of it? i spoke to john— to do to get out of it? i spoke to john redwood _ to do to get out of it? i spoke to john redwood earlier— to do to get out of it? i spoke to john redwood earlier today. - to do to get out of it? i spoke to john redwood earlier today. hei to do to get out of it? i spoke to - john redwood earlier today. he was a supporter— john redwood earlier today. he was a sopporter of _ john redwood earlier today. he was a sopporter of liz — john redwood earlier today. he was a supporter of liz truss, _ john redwood earlier today. he was a supporter of liz truss, he _ john redwood earlier today. he was a supporter of liz truss, he said - john redwood earlier today. he was a supporter of liz truss, he said he - supporter of liz truss, he said he thought— supporter of liz truss, he said he thought it — supporter of liz truss, he said he thought it would _ supporter of liz truss, he said he thought it would be _ supporter of liz truss, he said he thought it would be a _ supporter of liz truss, he said he thought it would be a mistake - supporter of liz truss, he said he thought it would be a mistake to| thought it would be a mistake to reverse — thought it would be a mistake to reverse the _ thought it would be a mistake to reverse the corporation - thought it would be a mistake to reverse the corporation tax - thought it would be a mistake toi reverse the corporation tax policy and he _ reverse the corporation tax policy and he said — reverse the corporation tax policy and he said people _ reverse the corporation tax policy and he said people need - reverse the corporation tax policy and he said people need to- reverse the corporation tax policy and he said people need to calmi reverse the corporation tax policy- and he said people need to calm down and he said people need to calm down and stop— and he said people need to calm down and stop panicking _ and he said people need to calm down and stop panicking. is— and he said people need to calm down and stop panicking. is he _ and he said people need to calm down and stop panicking. is he a _ and stop panicking. is he a lone voice? — and stop panicking. is he a lone voice? ~ . . , ., , voice? well, there are a few people in the conservative _ voice? well, there are a few people in the conservative party _ voice? well, there are a few people in the conservative party who - voice? well, there are a few people in the conservative party who still l in the conservative party who still think that, who think these u—turns are a mistake, who still think that liz truss should have cut the additional rate of tax, the 45p rate, but those people clearly aren't, the markets aren't in agreement with those people. the markets find these policies to be worrying so the thing you have to remember aboutjohn redwood as he was tipped to be a treasury minister under liz truss in the administration, it was written he was close to the economic discussions that were happening between her and kwasi kwarteng, jacob rees—mogg, but thatjob never materialised and he does remain a backbencher so you have to wonder quite how closejohn redwood necessarily as to these discussions, but he does represent the constituency of the conservative party and he is probably one of those who has actually got the

backbone and come out and say it because a lot of mps who are of that you are knowing it's a popular and wouldn't say it at the moment. ads, iat wouldn't say it at the moment. a lot of mps are in _ wouldn't say it at the moment. a lot of mps are in their _ wouldn't say it at the moment. a lot of mps are in their constituencies today and over the weekend, many may be talking to their constituency parties and their chairman? yes and that's rather— parties and their chairman? yes and that's rather interesting _ parties and their chairman? yes and that's rather interesting because - parties and their chairman? yes and that's rather interesting because a l that's rather interesting because a lot that's rather interesting because a tot of— that's rather interesting because a lot of conservative members of course — lot of conservative members of course backed liz truss very recently _ course backed liz truss very recently and they still support her, actually— recently and they still support her, actually i've heard from some mps who have — actually i've heard from some mps who have been publicly or privately critical _ who have been publicly or privately critical of _ who have been publicly or privately critical of liz truss who have been told by— critical of liz truss who have been told by their members to put a sock in it frahktv — told by their members to put a sock in it frankly because they said we only voted — in it frankly because they said we only voted for this about a month ago. _ only voted for this about a month ago. give — only voted for this about a month ago, give hera chance, so those pressures— ago, give hera chance, so those pressures will be going in both directions from the party members this weekend.— directions from the party members this weekend. we've only got a few minutes left _ this weekend. we've only got a few minutes left on _ this weekend. we've only got a few minutes left on the _ this weekend. we've only got a few minutes left on the programme - this weekend. we've only got a few| minutes left on the programme and then we are expecting this afternoon perhaps not precise timings for that press conference of liz truss. there is going to be a lot more scrutiny on labour, isn't there, john? a lot more than that has been perhaps over the last year or so, because emily thornberry has said that actually

it's up to the government to sort out the current sort of predicament and turmoil in the economy, but there will be a lot more scrutiny on their plans too?— their plans too? there will be definitely _ their plans too? there will be definitely a — their plans too? there will be definitely a lot _ their plans too? there will be definitely a lot more - their plans too? there will be definitely a lot more scrutiny| their plans too? there will be i definitely a lot more scrutiny on labour— definitely a lot more scrutiny on labour and we've already seen that, there _ labour and we've already seen that, there was_ labour and we've already seen that, there was a — labour and we've already seen that, there was a lot more attention at labour— there was a lot more attention at labour party conference this year on what labour— labour party conference this year on what labour was announcing rather than the _ what labour was announcing rather than the fights we've heard in the past _ than the fights we've heard in the past. there were a lot of journalists in westminster who were suddenly— journalists in westminster who were suddenly trying to improve their cohtacts— suddenly trying to improve their contacts with people like emily and her colleagues because they think the labour party could be in power and they— the labour party could be in power and they want to know what exactly they would do differently in power, in government, but i think this afternoon _ in government, but i think this afternoon the main thing is going to be for— afternoon the main thing is going to be for lil— afternoon the main thing is going to be for liz truss to set her agenda for the _ be for liz truss to set her agenda for the country. there were a lot of mps out _ for the country. there were a lot of mps out there, which one is she going _ mps out there, which one is she going to — mps out there, which one is she going to bring instead? i�*m mps out there, which one is she going to bring instead? i'm going to re ort going to bring instead? i'm going to report before _ going to bring instead? i'm going to report before we _ going to bring instead? i'm going to report before we go _ going to bring instead? i'm going to report before we go that _ going to bring instead? i'm going to report before we go that steve - report before we go that steve swinford from the times is reporting thatjeremy hunt could well be the next chancellor, but it's only speculation at the moment. that's all we have time for, from all of our guests, thank you, and goodbye.

internationally people can believe in. . . �* �* . internationally people can believe in. this is bbc news broadcasting live from london. _ in. this is bbc news broadcasting live from london. welcome - in. this is bbc news broadcasting live from london. welcome if - in. this is bbc news broadcasting live from london. welcome if you in. this is bbc news broadcasting - live from london. welcome if you are watching in the uk or around the world. kwasi kwarteng is no longer chancellor of the exchequer, the bbc has learned. it is not yet clear whether he was sacked by liz truss or chose to resign. the chancellor rushed back to london overnight after cutting short a trip to washington for the meeting of the imf. after days of turmoil, indeed weeks on the financial market following the mini budget, the prime minister is about to hold a downing street conference to explain what's going on with herfinancial street conference to explain what's going on with her financial policy. some mps have called for a u—turn. my some mps have called for a u—turn. my advice to