Jeremy Hunt is facing pressure to explain the Government’s U-turns as he signalled a further change of economic direction.
The new Chancellor was preparing to delay Liz Truss’s 1p cut to income tax as Andrew Bailey, the Governor of the Bank of England, praised his decision to tear up her economic plans.
Following a series of interviews in which Mr Hunt declared he would slow down tax cuts and that some “will go up”, he began working on plans to push back one of the key announcements of Ms Truss and Kwasi Kwarteng’s mini-Budget.
Mr Hunt shortly will appear on Sunday with Laura Kuenssberg, the BBC’s flagship political programme.
Follow the latest updates below.
08:49 AM
Good morning
Dominic Penna here, the Telegraph’s Political Reporter guiding you through what looks set to be another eventful day.
Jeremy Hunt, the new Chancellor, will appear on the BBC’s Sunday with Laura Kuenssberg show this morning as he comes under pressure to defend a series of screeching U-turns.
Mr Hunt, who was not in the job 48 hours ago, was preparing to delay Liz Truss’s 1p cut to income tax last night.
