Prime Minister Liz Truss is to hold a press conference later on Friday, Downing Street has said. The Times is reporting the press conference is being held as the Prime Minister prepares to 'sack' her Chancellor, Kwasi Kwarteng.
Downing Street have not commented. The Times political editor, Steven Swinford, tweeted: "I'm told that Kwasi Kwarteng is being sacked as Chancellor as Liz Truss prepares to reverse the mini-Budget.
Not clear who will be replacing him. Events moving very, very quickly this morning. No 10 not commenting." It comes after Mr Kwarteng flew back to London this morning for for crisis talks with Ms Truss amid turmoil in the Tory Party and intense speculation key elements of his controversial mini-budget will have to be dismantled.
The Chancellor cut short his visit to the annual meeting of the International Monetary Fund (IMF) in Washington DC as Conservative MPs questioned whether he and the Prime Minister can survive the coming days.
Read more on manchestereveningnews.co.uk
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