tory party, notjust liz truss but the entire tory party, is in crisis —— so it feels like... i tory you look— feels like... i was going to say, when you look at _ feels like... i was going to say, when you look at the _ feels like... i was going to say, when you look at the years - feels like... i was going to say, j when you look at the years that feels like... i was going to say, - when you look at the years that the conservatives have been leading the country, a lot of people would say, you do lose your way somewhat. let's turn to the front page of the independent. while we now have in the last few minutes the statements or comments coming from president joe biden, saying he was not the only one, it does make you wonder, doesn't it, if there were any other leaders? as you said, kate, the imf have also commented on that and the front of the independent, that word mistake, used also by her new chancellorjeremy hunt, but one of the, i think, chancellorjeremy hunt, but one of the, ithink, most chancellorjeremy hunt, but one of the, i think, most concerning chancellorjeremy hunt, but

as a whole _ but the demise of the tory party as a whole i— but the demise of the tory party as a wholetive party is one of the most _ conservative party is one of the most ruthless in the world, they do throw— most ruthless in the world, they do throw dead — most ruthless in the world, they do throw dead birds out of the nest very quickly as boris johnson discovered. the picture on the front of the _ discovered. the picture on the front of the guardian, it tells a thousand words _ of the guardian, it tells a thousand words. these two, kwasi kwarteng and liz words. these two, kwasi kwarteng and liz truss— words. these two, kwasi kwarteng and liz truss looking confident but increasingly isolated. we had liz truss— increasingly isolated. we had liz truss simply throwing her chancellor under the bus. the legs were under the bus— under the bus. the legs were under the bus it— under the bus. the legs were under the bus if not the whole body when it had _ the bus if not the whole body when it had been— the bus if not the whole body when it had been a decision taken by him not by, _ it had bee

i don't think the tory party will once and i told you _ think the tory party will once and i told youho is more of a unifier, somebody who is more of a unifier, sojeremy_ somebody who is more of a unifier, sojeremy hunt himself... can somebody who is more of a unifier, so jeremy hunt himself. . ._ somebody who is more of a unifier, so jeremy hunt himself... can i 'ust “um in so jeremy hunt himself... can i 'ust jump in there? fl so jeremy hunt himself... can i 'ust jump in there? that i so jeremy hunt himself... can i 'ust jump in there? that willi so jeremy hunt himself... can i 'ust jump in there? that will take h so jeremy hunt himself... can ijust jump in there? that will take us - jump in there? that will take us nicely to the front page of the metro. i want to introduce the next front page, which has got three plots on its front page and plot number three has exactly what you're saying, which is that it is the chancellor who is being tipped for the top job. chancellor who is being tipped for the tap job-— chancellor who is being tipped for the to “ob. . �*, the top 'ob. that's ri

within the tory party.— managing the very real restrictions within the tory party.within the tory party. what are you hearing? there _ within the tory party. what are you hearing? there are _ within the tory party. what are you hearing? there are a _ within the tory party. what are you hearing? there are a host - within the tory party. what are you hearing? there are a host of - hearing? there are a host of european this month that liz truss attended and how will this news be received? i attended and how will this news be received? ~ , , attended and how will this news be received? ~' , , , ., , received? i think liz truss is only there for the _ received? i think liz truss is only there for the blink _ received? i think liz truss is only there for the blink of _ received? i think liz truss is only there for the blink of an - received? i think liz truss is only there for the blink of an ipo in i received? i think liz truss is only. there for the blink of an ipo in the short time she was there, she did attempt, the first went quite well and also the negotiations on t

clearly, it is better for the tory party they don't, if they have _ the tory party they don't, if theyeed as the person who is— have one person agreed as the person who is going _ have one person agreed as the person who is going to take over and as many— who is going to take over and as many people in the party as possible cantel— many people in the party as possible cancel that— many people in the party as possible cancel that person. the trouble i would _ cancel that person. the trouble i would say, — cancel that person. the trouble i would say, if it is boris, there are quite _ would say, if it is boris, there are quite a _ would say, if it is boris, there are quite a few— would say, if it is boris, there are quite a few people, in particular in the tory— quite a few people, in particular in the tory party and indeed in the country. — the tory party and indeed in the country, who are going to react quite _ country, who are going to react quite badly to that for all sorts of reasons — quite badly to that for all sorts of reasons. and that is why some of the people _ reasons. and tha

— of the tory party is the way out of— of the tory party is the way out of this _ of the tory party of the tory party is the way out of this. there is an i out of this. there is an alternative. _ out of this. there is an alternative. a- out of this. there is an alternative. a stable i out of this. there is an i alternative. a stable labour government. _ alternative. a stable labour government. the _ alternative. a stable labour government. the public- alternative. a stable labour government. the public arei government. the public are entitled _ government. the public are entitled to _ government. the public are entitled to a _ government. the public are entitled to a say _ government. the public are entitled to a say in - government. the public are entitled to a say in this i government. the public are| entitled to a say in this than vou've — entitled to a say in this than you've been _ entitled to a say in this than you've been out _ entitled to a say in this than you've been out and - entitled to a say in this than you've been out and about, | entitled to a say in this thanl you'v

tory party after what has been very fractious _ tory party after what has been very fractious and — torybeen very fractious and unless _ tory party after what has been very fractious and unless you _ tory party after what has been very fractious and unless you are - tory party after what has been veryl fractious and unless you are united, you cant— fractious and unless you are united, you can't get— fractious and unless you are united, you can't get anything _ fractious and unless you are united, you can't get anything done. - fractious and unless you are united, you can't get anything done. he - fractious and unless you are united, you can't get anything done. he has a huge _ you can't get anything done. he has a huge challenge _ you can't get anything done. he has a huge challenge in— you can't get anything done. he has a huge challenge in relation- you can't get anything done. he has a huge challenge in relation to - you can't get anything done. he has a huge challenge in relation to the i a huge challenge in relation to the economy — a huge challenge in relation to the economy he _ a

disunity~ — the fire that was put tory party disunity. — disunity. now remarkablyjust a few weeks into herjob there are tory mps, _ weeks into herjob there are tory mps. her— weeks into herjob there are tory mps, her most severe critics that her time — mps, her most severe critics that her time could be up in the next few weeks _ her time could be up in the next few weeks. perhaps a warning a that she hasiust_ weeks. perhaps a warning a that she hasiust ten— weeks. perhaps a warning a that she hasjust ten days weeks. perhaps a warning a that she has just ten days to save her partnership. and the rebels that have _ partnership. and the rebels that have been described this evening don't _ have been described this evening don't like — have been described this evening don't like liz truss. and feel that her policy— don't like liz truss. and feel that her policy direction from one end believe _ her policy direction from one end believe the tory party into el toro bruin _ believe the tory party into el toro bruin they— believe the tory party int

we are live for the tory party conference. crude prices jump as opec wages -- waiters cutting -- wagers cutting output. the fourth-quarter kicks in amid ongoing concern about stuttering economic growth. you go away for two weeks, you arrive in london, what have you done? broken everything. the gilt market, the currency. dani: i tried to steer the ship as much as i could. manus: where are we in the evolution of a cross asset are shock? are we done with liquidating and conserving our power in markets? dani: it starts with liquidity and skills into equities, at least that from bank of america. bank of america out over the weekend morning that we could -- that we are indeed having the issue where the risks are spilling over. there are now mass liquidations. a really ugly day on friday for wall street, the third straight quarter of losses, the worst since the gse. euro stoxx, ftse futures, cash markets closed in the green, they have to play catch up. s&p tumbled again. mastec futures worse off at the moment. tesla over the weekend,

the bottom line is, the tory party is still at war with - tory party is still at war with itself?y. she wasn't the choice of the tory mps for the leader, she was, in the way they see it, imposed on them by the party members and a lot of mps are determined the next leader shouldn't be chosen by the party members. but that will cause a huge fuss in the country among the party members if they try to edge them out of the process. you can see the reasons why she might stay, is the inability to resolve these problems. but it is hard to see that lasting until the next general election.— hard to see that lasting until the next general election. what is the mechanism _ next general election. what is the mechanism if— next general election. what is the mechanism if tory _ next general election. what is the mechanism if tory mps _ next general election. what is the mechanism if tory mps are - next general election. what is the mechanism if tory mps are going | next general election. what is the i mechanism if tory mps are going to depose her in favour of whoever else might be the replacement

the tory party can unify— is not clear the tory party can unify around _ is not clear the tory partylike rishi sunak's tax rises, but you have to have them - like rishi sunak's tax rises, but you have to have them if - like rishi sunak's tax rises, but you have to have them if you i like rishi sunak's tax rises, but. you have to have them if you don't want _ you have to have them if you don't want these — you have to have them if you don't want these tax _ you have to have them if you don't want these tax cuts. _ you have to have them if you don't want these tax cuts. it _ you have to have them if you don't want these tax cuts. it is - you have to have them if you don't want these tax cuts. it is not - you have to have them if you don't want these tax cuts. it is not clear| want these tax cuts. it is not clear to me _ want these tax cuts. it is not clear to me if— want these tax cuts. it is not clear to me if there _ want these tax cuts. it is not clear to me if there is— want these tax cuts. it is not clear to me if there is something - want these tax cuts. it is not clear to me if

way, and rishi sunak�*sjob is to kind of unified way, and rishi sunak�*s job is to unite the party, but also toryard earlier the conservatives have a paper majority of some 80 odd but that is only a paper majority. to make a real majority, conservative mps need to actually now and then poke with the government. crazy idea, i know, but thatis government. crazy idea, i know, but that is what will be required. [30 that is what will be required. do ou that is what will be required. do you believe that the borisjohnson backers will unite and there will be stability? this morning on the radio ones sing respect to see mutual thing and people artists wanting respect and seeking a mandate, the best way to win is through the people and that's why a general election would be the only answer otherwise we will go from bad to worse. it basically a choice of tory mps as to whether there will be stability or not miss i mps as to whether there will be stability or not miss— stability or not miss i think it is u . stability or not miss i think it is u- to stability or not miss i think it is up to tory _ stability

it's early evening and liz truss is making her pitch to tory party members. making her pitch to tory who is reared members. i'm somebody who is prepared to _ members. i'm somebody who is prepared to take _ members. i'm somebody who is prepared to take action - members. i'm somebody who is prepared to take action to - members. i'm somebody who is prepared to take action to do i prepared to take action to do what it takes to fix the issues our country has.— what it takes to fix the issues our country has. the members were persuaded, _ our country has. the members were persuaded, her- our country has. the members| were persuaded, her campaign led to downing street. she was prime minister. two days later, the queen died. politics paused. but it would return with a vengeance. a mini budget, the u—turned, the resignations, the files and confusion, the humiliation of seeing her own government dismantling her ideas. it was all too much. liz truss had lost control. and just like that, she was gone. goodbye. hello there. temperatures on saturday rose to a high of 19 degrees in essex and it's go

-— truss is making her pitch the tory party members. omeone who is reared party members. i am someone who is prepared to — party members. i am someone who is prepared to take _ party members. i am someone who is prepared to take action _ party members. i am someone who is prepared to take action to _ party members. i am someone who is prepared to take action to do - party members. i am someone who is prepared to take action to do what - prepared to take action to do what it takes, to fix the issues our country has. it takes, to fix the issues our country hae— it takes, to fix the issues our country has. the memos were persuaded. — country has. the memos were persuaded, her— country has. the memos were persuaded, her campaign - country has. the memos were persuaded, her campaign led | country has. the memos were i persuaded, her campaign led to downing street, she was promised. two days later, the queen died. it was all too much. liz truss had lost control and just like that, she was gone. goodbye. wherever you are across the uk, you will

change of personnel- at the top of the tory party.overnment functions can actually operate _ because the personnel. are changing so quickly. and, you know, we really are seeing damage done to the economy. - in end it boils down to this, doesn't it? | for tory mps, do they put their party first or do - they put the country first? and if they sit there and say, "well, we've got a majority. were going to do this _ in the interest of the conservative party" than i'm afraid they're putting party first and not. the country first. the wrong way round as far as i'm concerned. i where were you when you heard she was resigning? i was four minutes away from victoria coming upj and having just spoken. i did a speech this morning in brighton for the tuc. - we finished in brighton, . did various bits of meetings and interviews there and then came up and the news came _ through as we were travelling that there was going to be . a statement and then we arrived sort of coming into victoria at 1.30 - and that is where was. were you watching on a phone

what do we learn from the tory party and how it has shifted, | tory party and how it has shifted, in good question, the _ truss? i think that is a good question, the conservative. truss? i think that is a good i question, the conservative party is a broad and tense but it's does seem to be squeezing many strands of thought. that does feed into what people are saying that they need to be in opposition to thrash those issues out. is it a low tax, socially conservative or socially liberal party? i don't know people have very different ways of thinking about so i don't think it it remains to be seen who comes out on top and what happens to those people who are unhappy with the choices over the next few months. will they break away and go off to a another party. this is an interesting question. thank you very much. there has been a lot happening this morning, in terms of whether support is landing. very much landing behind rishi sunak. he now has the support of half of tory mps. what do people outside think? our correspondent has been speaking to people near heathrow airport. here we have

— the tory party? i was talking to some tory _ the tory party? some tory mps _ the tory party? i was talking to some tory mstust _ the tory party? i was talking to some tory mstust after - the tory party? i was talking to some tory mstust after he i the tory party? i was talking to i some tory mstust after he made some tory mps just after he made that speech to them and then his first televised address, and i have to say that there was a sense from those mps of real relief, and a belief they thought the party was more united than they had seen it for a long time. one of them said at last we have grown up in charge, another one said to me i can now look my constituents in the eye and tell them back what my leader says. the question i put to them are that borisjohnson supporters thought he had brought down orjohnson earlier in the year, how will they respond? but we will have to see. it will depend a bit i think on how rishi sunak responds to borisjohnson's supporters and liz truss supporters. could there be a role for boris johnson? i could there

there is a lot for tory party members to get their heads around. clearly a lot of concern within the parliamentary party about what is happening. michael gove, the first and clearly the most prominent conservative mp to break cover today and says that parts of that plan are in his view completely misguided. and there is clearly pressure liz truss and kwasi kwarteng at least to rethink their decision to abolish the top rate of income tax. that is where a lot of the discontent will focus. we will hear from kwasi kwarteng tomorrow, a big event in birmingham on monday. but the economy is not the only thing that the tory party members and mps are talking about. there was an interesting intervention this evening from steve baker, who've causes a prominent brexiteer, a leading member of the european research group of tory mps, now a minister in northern ireland and he said this about the uk's relationship with ireland and the eu early on. as one of the people who perhaps acted with the most ferocious determination to get the uk out of the eu, i think we h

it comes as the tory party prepares for its party conference in birmingham, just over a week after theth the usual economic assessment of the plans. the prime minister liz truss arrived for the party conference in the last hour and reporters shouted questions. 0ur political correspondent ben wright is in birmingham. she was asked if her mps are behind, and she shrugged off the question and smiled and walked into the conference hotel, where she will be in residence now until wednesday afternoon. that is a long time to be questions about why the government's economic plans seem to have gone so awry in her first days and weeks in office. i think normally a new leader of the tory party, in office forjust a month, heading to their first party conference, should be feeling pretty buoyant, and it would be a fairly celebrate every gathering. not so this time. the chancellor's fiscal statement clearly caused deep disquiet within the conservative party, let alone, of course, on the financial markets, prompting an intervention by the bank of england to shore up pension funds. i think the governme

budget, to have left lots of senior tories really disgruntled and clearly not frightened to speak out because they feel the _ frightened to speak out because they feel the partya lack of spending — enormous threat from a lack of spending discipline. and that's what the tories _ spending discipline. and that's what the tories have, as she rightly says. — the tories have, as she rightly says. and _ the tories have, as she rightly says. and i_ the tories have, as she rightly says, and i agree withjames that i agree _ says, and i agree withjames that i agree with — says, and i agree withjames that i agree with priti patel, that the tories have lived or died by that. james. _ tories have lived or died by that. james, what kwasi kwarteng has done to his steady nerves, he quickens debt cut plans, he had insisted he would wait until 23 november to announce his fiscal plans, he said basically that would bring that forward, and then the u—turn on his plan to cut the 45p top rate of income tax. the big question is, will this work? will this calm people down and reassure the markets? ., �* , ., , people down and reassure the markets? . �*, ., , markets? that's a very goo

i think it is significant, the tory party is a l is significant, the tory party is a series of delicatetions, and whoever ends up leading them will not be alone able to unite the party. it is how they will be able to unite a cabinet that reflects the different factions of the party. it is a significant get for rishi sunak, i don't make it means he is over the line, because as i understand it, a lot of mps are privately backing boris, but waiting to see if he officially declares, because some of them are fearful of the 2016 situation, where he marched everyone to the top of a hill, but didn't actually declare again. conventional wisdom says there will be our soon ack— johnson run off of the membership. johnson will properly still win. someone saying that they need to get boris out of the system, but they haven't quite done that yet. i think it is all to play for. done that yet. i think it is all to -la for. , ,~ done that yet. i think it is all to -la for. , , done that yet. i think it is all to .la for. , done that yet. i think it is all to -la for. , ., play for. just picking up on wha

we've had these experiments at the top of the tory party. next candidate in the middle of this chaos. there is a choice. there's a labour party that's capable of stabilising. the economy, has a clear plan and the public are entitled to choose between that stable labour government and this utter chaos of the conservatives. are you ready for government? this is not the context you would have wanted to take over. we are ready to form a government, to stabilise the economy and implement a real plan for growth, for living standards to help people through a cost of living crisis. and that's the choice now. a stable labour government or this utter chaos from the conservatives? that was the labour leader sir keir starmer. our chief political correspondent nick eardley is in downing street. he was there as the prime minister came up with what will go down in history as one of the most extraordinary resignation statement is of a british prime minister. and of course, all eyes now on who might succeed her, and intriguing reports that borisjohnson could

you don�*t usually have the same swell of party members and tory mps turning up party members and toryt as i said, they are here for a long time, until wednesday afternoon, and they will have to feel that i�*m somehow! it certainly gives us plenty of opportunities to try to speak to ministers and mps, activists and donors, to get a sense of what they think about the government�*s new economic strategy, which does mark a very big break to the one that boris johnson was pursuing just a month or two ago. johnson was pursuing “ust a month or two auo. , ., two ago. yes, the government will obviously want _ two ago. yes, the government will obviously want to _ two ago. yes, the government will obviously want to move _ two ago. yes, the government will obviously want to move all - two ago. yes, the government will obviously want to move all the - two ago. yes, the government will| obviously want to move all the talk away from that. what else will be top of their agenda? well, i mean, it is not really a forum... certainly not a forum for creating policy here, or even debating it. again, like l

i don't think another revolving door of chaos and another experiment at the top of the tory party is s. what party is the way out of this. what needs to happen _ party is the way out of this. what needs to happen now? _ party is the way out of this. what needs to happen now? on - party is the way out of this. what needs to happen now? on a - party is the way out of this. what needs to happen now? on a uk level they must_ needs to happen now? on a uk level they must be a general election, it is a democratic necessity. the idea the tories — is a democratic necessity. the idea the tories can unite behind a prime minister now, any prime minister, let alone — minister now, any prime minister, let alone one that is for the birds. the tories — let alone one that is for the birds. the tories have shown they are incapable — the tories have shown they are incapable of— the tories have shown they are incapable of providing - the tories have shown they are incapable of providing the - incapable of providing the leadership, _ incapable of providing the leadership, they- incapable of providing the

it is not a complicated process, but the tory party beall —— seems _ process, but the tory party beallteresting, my concern is how are people going to get— my concern is how are people going to get through this winter.- to get through this winter. delivery is a word we _ to get through this winter. delivery is a word we have _ to get through this winter. delivery is a word we have heard _ to get through this winter. delivery is a word we have heard a - to get through this winter. delivery is a word we have heard a lot - to get through this winter. delivery is a word we have heard a lot of. to get through this winter. delivery | is a word we have heard a lot of and now we need to see what they are going to do. let's finish with this story, uk wants russia against escalating war against

— within the public perception of the tory party as a whole or liz truss personally?z truss personally? what i find fascinating about _ personally? what i find fascinating about this, i have left—wing friends realty— about this, i have left—wing friends really quite left—wing people coming up really quite left—wing people coming up to me _ really quite left—wing people coming up to me and saying, at least margaret— up to me and saying, at least margaret thatcher... sentences i never _ margaret thatcher... sentences i never thought i would hear and one of the _ never thought i would hear and one of the problems is the novelty value — of the problems is the novelty value. premiers all talk about the honeymoon period, if in doubt do nothing — honeymoon period, if in doubt do nothing liz— honeymoon period, if in doubt do nothing. liz truss was thrown a bag of spanners — nothing. liz truss was thrown a bag of spanners politically but also she was given— of spanners politically but also she was given a wild platform, she spoke at the _ was given a wild platform, she spoke a

party. i think it is something like 25% or maybe a third of the tory mps actually supported her in the leadershiprs of the conservative party. if you cannot get your mps on board and behind you, then you are not going to carry your policies through because you have an in—built rebellion. interestingly, the second part of the headline in the telegraph is tory rebels plot to oust the prime minister within days. it is quite possible, quite likely that there will be a knock on her door in the early part of next week. i think people will wait to see what happens with the markets, particularly over the weekend and what the papers are saying but they won't make pleasant reading for the prime minister over breakfast tomorrow morning. it is when, breakfast tomorrow morning. it is when. not — breakfast tomorrow morning. it is when. not if _ breakfast tomorrow morning. it is when, not if the _ breakfast tomorrow morning. it is when, not if the sense you get from this front page, kevin. how and when, they say within days, but how are they going to do it? that when, they say within days, but how are they goin

that is from the tory party which has been through so much turmoil over the last couple of months.y a couple of months ago, liz truss was speaking to the late queen when she took over from boris johnson. now just within two months, rishi sunak will be addressing the country again from the same lectern she used just a few days ago, trying to outline his vision which will be one of stability. if early indications are correct, it seems the markets are looking at rishi sunak as a man who can stabilize things in terms of economic policy. as i say, those challenges are huge. if you look at the polls for example, when you look at the people in those seats that boris johnson helped win over for the tories in 2019 to give them that majority, there is this sense of frustration. a sense of sheer disbelief that the tory party which had this record for financial, economic responsibility, h allowed a crisis like this, a catastrophe on world markets to have taken place. and rishi sunak will be trying to tell the country that he is that voice of stability. but of course, as before, this is a conat

he was anointed by the tory party, but it still says a lot for the efforts david cameron made to diversify the party. labor has not yet had a female prime minister, let alone a nonwhite one, but it also has practical implications. there's been a congratulatory tweet from narendra modi already. perhaps this will help the u.k. get a trade deal with india. but one polled, the word associated with rishi sunak is not that he is the youngest or nonwhite. it is that he is rich. it seems that that is still working against him. the image of him and his loafers and his ax hedge fund. in the u.s., that seem to work so well for donald trump, the dish people playing on his business credentials to getting into the white house. kriti: you spoken that free-trade trade agreement but there is also another intentionally when it comes to frexit relationships. walk me through -- brexit relationships. walk me through the intricacies. i believe there is a law that rishi sunak is starting to get past that could help veto the power of the house of lords when it comes to the post exit agreement. -- post-brexit agre

so what we're looking at is a tory party in desperation. but actually, you know, all of this focus on the tory party, obscure some very, very important issues. we got more food banks in this country than branches of mcdonalds. today, the post office workers were on strike energy bills going through the roof. so british people are finding themselves staring down the barrel of a very grim winter, and what we have is the tory party that's indulging itself whilst people are on their knees. it's unforgivable and boris johnson, if they revert back to him, it'll tell the electorate everything they need to know about how much contempt the tory parties have for the voting people of this country. right. and whoever takes over still has a huge list of challenges, a huge pile of challenges in the, in tray from day one in the job monday rate leader of the u. k. women's equality party. thank you. thank you. or trust this resignation has sparked jubilation for one british tabloid, which set up a live stream last week showing a photo of trust next to a hea

once _ this conversation as the tory party once again — this conversation as the tory party once againther brand as who _ once again enters into another brand as who can— once again enters into another brand as who can pick week? frankly, i'm scared _ as who can pick week? frankly, i'm scared for— as who can pick week? frankly, i'm scared for people, disgusted at the conduct _ scared for people, disgusted at the conduct of— scared for people, disgusted at the conduct of some conservative mps. this is— conduct of some conservative mps. this is what— conduct of some conservative mps. this is what they expect from boris johnson _ this is what they expect from boris johnson. misdirection, not quite telling _ johnson. misdirection, not quite telling the truth, getting people's hopes— telling the truth, getting people's hopes up— telling the truth, getting people's hopes up and dashing them at the last minute. it's typical of him, but the — last minute. it's typical of him, but the point is whoever becomes prime _ but the point is whoever becomes prime minister still faces all these years— p

there was the chancellor speaking at the tory party conference.rday morning we heard the prime minister who we saw in the audience they're saying that she was committed to scrapping the 45p tax rate. kwasi kwarten: scrapping the 45p tax rate. kwasi kwarteng summed _ scrapping the 45p tax rate. kwasi kwarteng summed it _ scrapping the 45p tax rate. kwasi kwarteng summed it up - scrapping the 45p tax rate. kwasi kwarteng summed it up at - scrapping the 45p tax rate. kwasi kwarteng summed it up at the i kwarteng summed it up at the beginning of his speech. he worked on and said what a day and it has been, you could tell by the substance of his speech reflecting the turmoil there has been at the tory party conference so far by being pretty anodyne. there were no new policy announcements, it was a short speech or about 20 minutes, and not to what had happened saying he wanted to drop a line under it with no more distractions and getting on with delivering the growth plan, focus on the energy bill support package and other measures they want to trumpet

lizzy burden is at the tory party conference in birmingham. dani: australia's dollar tumble as much as 1%, after the rba delivered a smaller than expected 25 basis point rate hike. expectations had been for a fifth straight half a point increase. joining us now is swathi, in sydney, what prompted the rba to go slow? when we look at the rest of the world to was delivering just a few weeks ago more than 500 basis point of tightening? >> it was a surprise decision. a small group of economists were expecting a 25 basis point increase, even though he had signaled he would slow down the rate of interest rate hikes. his argument is the rba has delivered a essential increase over a short period of time. this started with the 25 basis point increase, and after four 50 basis point hikes. the interest rate is above the neutral rate where policy is neither expansionary nor contractionary. so, it was a good time for them to signal a slowdown in the pace of hike and assess the economic situation, and how effective the rate hikes have been. manus: we have se

s tory party.is bloomberg. ♪ manus: it's a with me -- daybreak europe with me in dubai and dani burger at london hk. at 12:00 p.m. we will get the latest rates decision from ukraine's central bank, then turkey at noon with a decision on rates. 1:30 p.m. we will get hard data from the states, jobless claims, and by 3:00 p.m. existing home sales figures. later today, eu leaders gather for the two-day summit in brussels. unity, that's what we are going to look for. dani: and we will also look for any twists and turns in the chaotic world of u.k. politics. it's been a day and evening, and weeks of political turmoil with liz truss' premiership looking on the edge. let's bring in lizzy burden. it seems like things continue to reach new lows. lizzy: never mind but humiliation liz truss suffered at prime minister's questions over how much of her policy and her chancellor had gone. the tory party did a lot more humiliation to itself in the hours afterwards. you had the home secretary suella braverman going,

the — scene trillions faction of the tory party. the first thing that rishi sunak— party.its home secretary. you sunak has to do is getting rid of its home secretary.— sunak has to do is getting rid of its home secretary. you think he has to do that? — its home secretary. you think he has to do that? even _ its home secretary. you think he has to do that? even after _ its home secretary. you think he has to do that? even after the _ its home secretary. you think he has to do that? even after the amount i its home secretary. you think he has} to do that? even after the amount he was defending her, saying second chances, getting majorfigures in the conservative party to back that position? i the conservative party to back that osition? ., ~' the conservative party to back that osition? ., ,, , position? i do. ithink his misjudgment _ position? i do. ithink his misjudgment was - position? i do. ithink his misjudgment was not - position? i do. i think his| misjudgment was not that position? i do. i think his i misjudgment was not that it position? i do. i think his - misjudgme

mrjohnson left offersjust over six tory party leader. ced out after series of crises and scandals. whoever becomes the next conservative leader also becomes the next prime minister. but opposition parties are calling for a general election. 0ur political correspondence genital by because greatest details. —— jonathan blake. the rishi sunak campaign are claiming to have the support of 100 conservative mps. that's an important number because the bar has been set very high for people to formally enter this contest. they will need 100 nominations from conservative mps to get on the ballot in the first place. although rishi sunak who finished behind liz truss in the race against boris johnson replacement has not formally declared his candidacy it seems to be a case of when, not if. and he seems to be the front runner among conservative mps. borisjohnson the other big name who resigned as prime ministerjust a few months ago and is now being talked up by his supporters to make a possible comeback. we can report tonight that he has boarded a flig

it is behold the future of the tory party at stake here or is not overstating a?erstating a? i think it is. that poll is completely - not overstating a? i think it is. i that poll is completely atrocious. just the _ that poll is completely atrocious. just the lib dems are something out for p _ just the lib dems are something out for p there — just the lib dems are something out for p. there is this risk. liz truss has _ for p. there is this risk. liz truss has done — for p. there is this risk. liz truss has done such spectacular damage in her 44 _ has done such spectacular damage in her 44 days— has done such spectacular damage in her 44 days as prime minister. also, thev've _ her 44 days as prime minister. also, they've trashed britain's reputation overseas _ they've trashed britain's reputation overseas while they were added. yes, ithink— overseas while they were added. yes, i think this _ overseas while they were added. yes, i think this death spiral comment from _ i think this death spiral comment from lord — i think this death spiral comment from lord hague i

to remain _ the future success of the tory party to remain in — the future success of the tory partyere seems to be propagating meeting, and there seems to he a _ propagating meeting, and there seems to be a vacuum of morality. as michael— to be a vacuum of morality. as michael gove has said, it is immoral to he _ michael gove has said, it is immoral to be making this benefits for the highest _ to be making this benefits for the highest earners. the ones who need it least, _ highest earners. the ones who need it least, and — highest earners. the ones who need it least, and crankshafts rating in the times— it least, and crankshafts rating in the times about when pain is around, pain must— the times about when pain is around, pain must he — the times about when pain is around, pain must be shared. this isn't being — pain must be shared. this isn't being shared. this is not a pie cut into equal— being shared. this is not a pie cut into equal parts. so whether or not this boat— into equal parts. so whether or not this boat happens, i think you mentioned earlier that downing street— menti

maybe we are going to see unity in the tory party but i suspected not.ts are sitting on knife edge is not knowing is coming. are the tory party going to fight like rats and a stack going forward? who is the new chancellor going to be? are we're going to see attempt to have big spending cuts and what in the end other people going to say? that seems to be pretty important. they are headed to a really tough winter struggling to pay their bills and here we have the second prime minister in what, 47 days, but nobody is elected. so i think the markets are sitting on a knife edge, we will see what happens but the suspicion is fighting and dissent within the tory party is likely to be treated badly by the markets. what will the new promise to do in terms of appointing the chancellor, what will the relationship be with the bank of england and what happens to the data? on friday we had very bad data on retail sales so i am sitting watching, hoping that things will now calm down, may have a couple of days where they do but my bet is that we are going to be back to

it is not a complicated process, but the tory party beall —— seems _ process, but the tory party beall but the tory party beall —— seems to have forgotten that. my concern _ seems to have forgotten that. my concern isn't really about the psychodrama at westminster, although it is something i find interesting, my it is something i find interesting, nry concern— it is something i find interesting, my concern is how are people going to get— my concern is how are people going to get through this winter.- to get through this winter. delivery is a word we _ to get through this winter. delivery is a word we have _ to get through this winter. delivery is a word we have heard _ to get through this winter. delivery is a word we have heard a - to get through this winter. delivery is a word we have heard a lot - to get through this winter. delivery is a word we have heard a lot of. to get through this winter. delivery | is a word we have heard a lot of and now we need to see what they are going to do. let's finish with this story, uk wants russia against escalating war against dirty bomb claims. c

but i'll tell you what, i think that she came in as prime minister, i mean, elected by the tory partyr. that was the case for tony blair and gordon brown, it was the case for david cameron with george osborne. and i think as she does that, bearing in mind i heard john curtice on the radio earlier today, the polling guy, and he was saying that, uniquely for somebody particularly so young in her premiership, she is not liked, and she's not seen as competent. that is toxic. and when you suddenly say, i'm going to get rid of the guy that i appointed to do what i want to do on the economy, because i've become this sort of mad libertarian, right out on the right of the conservative party, and you fire him and then pretend that because you bring in a new face, something's going to be better, i think it will make even worse for her. if they do get rid of her, which i think they will eventually, by the way, but if they do get rid of her, the one thing they are going to have to avoid at all costs is putting it back to the tory party members, because they will then, i suspect, do something as cr

the tory party is a brexit party now. i think that's that's clear.h that in the party now. but i think you've got to you've got two wings, you've got, you know, if you like, a sort of free market liberal wing to the party that is in inverted commas, "globalist," if you like, looks out of britain, you know, is not so invested in things like immigration. stopping... yeah, exactly. and then you've got another wing, which puts emphasis on, you know, strength of the state law and order, migration, borders, defence spending and pushing back, i hate the word, but pushing back against sort of "woke opinions," to use shorthand. and those i think can co—exist within a party. but if one or the other becomes too strong, as has happened in the past, is happening now, you get this rubbing up against each other in a very robust way. you're a commentator now and quite an influential one within the conservative party. and people listening to you will hear a kind of thoughtful man, quite philosophical man, a man who stresses that he's a bit uncomfortable with some of

he stood down after a series of scandals, remains a popular figure amongst some in the tory party. also the colonies mayor of london and the former m. p with the opposition labor party. he says that rather than a switch in tory leaders, a general election should now be called as possible, a parliamentary democracy to change the leader of your party, the incumbent, and stays prime minister without corridor election. margaret fletcher handed over to john major without general election. no, tony blair had that i would go to brow without a general election or david comment, hangovers to resume without general election. you can do once so brochures, broad strokes, how to list trust me once you can do twice other knees. now security forces in charge have opened fire an anti government protested killing at least 60 people. violence broke out off the demonstrators barricaded roads and torture ruling parties. headquarters in the capital, indiana, child that has been tense since, since it was that he was shot dead in a gun battle while visiting the front line last year. there's been anger eve

when she was in baby cameron's cabinet, of course, she oppose is going to leave the thousands of tory party members, also wider supporters of the conservative party who backs truss and wanted to see her agenda go forward, feeling enormously betrayed, and you can see this interaction on social media, especially with a lot of people accusing the british civil service. and the bank of england, of, in a gauging in a state shop to remove less trust, to destroy her agenda. and so really what we're looking at here, rory is british democracy itself being more, more damaged as time goes on. as the british political establishment tries to clamp down on what they see as the virus of populism which got into the system with the 2016 wrecks referendum. but every time they try and impose control on the system again, they just alienate small. busy people and drives more and more people into opposition to them. so this, this chaos in britain's political system is not going to end any time soon. alexander, people haven't quite started throwing eggs yet, but i trust is a shelf life is now being compared to th

and secondly, politically brexit still hangs over the tory party, a party that's tired over whether brexit -- or whether it's a means to allowing a clamp down on immigration and much more sort of little england view that much of the tory party has. >> is there a new age where interest rates matter, you know. reaganism and it could work in a world of declining interest rates, deficits sort of didn't matter, and what the market seems to be saying, and maybe we all need to be listening, is interest rates do matter. you know, reaganism and thatcherism would work in a world of declining interest rates. deficits didn't matter because you were borrowing at almost zero. >> absolutely. interest rates do matter. we're in a world where 9 macro environment is very different. it's also true that britain could never do a warmed over reaganism. he had the dollar and the dollar surged. bring is a smaller, open economy, so it's a much riskier bet and relies much more on market confidence. >> your cover this week is brilliant. the idea is that britain as italy. i suppose what one thinks of when one thinks o

her gun ships, who's been home secretary for just one day champs is in the center right of the tory party and has previously criticized trust is economic plans. and there are media reports that former prime minister boris johnson will also run. he stood down after a series of scandals involving parties held at downing street during lockdown, but remains a popular figure amongst some of his party. okay, well as cross to andrew simmons who sly for us are here in london, andrew, as we heard in sonya's report there only a day ago trust described herself as a fighter, not a quitter today. of course, she's a quitter. does this mean an end to all of this crisis and turbulence, or is more political driver on the way? well, you'd be very brave to predict one way or the other on that one. because conservative m p 's acknowledge that this has been an absolute massive mess from every level possible. not just of the whole story of las trust being a prime minister of broken promises and not reacting quickly enough to the situation. blaming her finance minister sacking him then finding a her position al