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Pound steadies as markets expect Bank of England action to prop up UK currency

The collapse of the value of the pound in the wake of Friday’s mini-budget appears to have stalled, for now, but only thanks to market expectations that the Bank of…

Bank of England ‘will not hesitate to change interest rates as necessary’ after pound’s fall

The Bank of England says it “will not hesitate to change interest rates as necessary” after markets reacted badly to the chancellor’s tax-cutting mini-budget. In a statement, the Bank said…

Pound sinks to record low against the dollar and UK economy predicted to flatline next year – as PM and chancellor defend mini-budget

The pound has fallen to a record low against the dollar, sparking market speculation that the Bank of England may be forced to intervene. A statement from the Bank was…

Briton held in Ukraine used as ‘punching bag’ over days of torture

A freed British prisoner of war who was held by Russian-backed separatists has told Sky News how he was tortured over several days. John Harding said he was used as…

Keir Starmer says he will reverse tax cut for top earners if he wins next election

Labour will reverse the cut in the higher rate of income tax if it wins power at the next election, Sir Keir Starmer has said. Around 660,000 of the highest…

Chancellor denies gambling with economy as pound sinks to near historic lows

The chancellor has denied suggestions he is gambling with the economy as his raft of tax cuts were met with a hostile reception – and sent the pound plummeting to…

First picture released of Queen’s ledger stone marking her final resting place

Buckingham Palace has released the first image of the new ledger stone marking the Queen’s final resting place. The late monarch was laid to rest on Monday evening in the…

Not yet a crisis, but it doesn’t look especially good as sterling slumps | Ed Conway

This article was supposed to be a considered look at whether or not this mini-budget will generate the growth it was promising. It was supposed to be about whether it…

Stamp duty, energy bills and alcohol duty: The key mini-budget announcements

Here are the key points from Chancellor Kwasi Kwarteng’s mini-budget statement to MPs: • The basic rate of income tax will be cut to 19p in the pound from April…

Chancellor to promise ‘new era for Britain’ with plan for growth in mini-budget

Kwasi Kwarteng will promise a “new era for Britain” with a major package of measures to “turn the vicious cycle of stagnation into a virtuous cycle of growth”. The chancellor…

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