We must move on: Blow for Boris Johnson as leading Brexiteer Lord Frost backs Rishi Sunak October 22, 2022 Leading Brexiteer David Frost has put his support behind Rishi Sunak for the Tory leadership, claiming that the country must “move on.” Frost said the party must back a “capable leader”, pointing to Rishi Sunak, who was expected to announce his bid on Saturday afternoon. Lord Frost was a big player in negotiating the UK’s [...]
Sunak set to make Tory leadership bid as Boris claims to have 100 MPs’ support October 22, 2022 Downing St leadership hopefuls are shoring up the support of MPs this weekend, ahead of a key Monday deadline, with Rishi Sunak passing to the next stage of the contest and Boris Johnson’s allies claiming he has also received enough support. Potential candidates have until next week to secure the backing of 100 MPs, before [...]
Confirmed: Penny Mordaunt is running for the top job October 21, 2022 Several Tory MPs declared their support for Penny Mordaunt moments after the Commons Leader announced she was running for the top job. Neil Hudson, MP for Penrith and The Border, tweeted: “I am backing @PennyMordaunt to be Prime Minister as I believe she has the leadership attributes, experience, empathy and compassion to unite our country [...]
Heads of nine key energy firms warn bill ‘threatens to undermine’ regulation in sector October 21, 2022 The heads of nine major energy companies have voiced “increasing concern” about a bill which “threatens to undermine strong, independent” regulation of the sector. In a strongly-worded letter to Jacob Rees-Mogg MP Secretary of State for Business, Energy and Industrial Strategy (BEIS), they urge the government to rethink measures Energy Prices Bill. The bill is [...]
Labour MP Christian Matheson QUITS after panel upholds two sexual misconduct claims October 21, 2022 Former Labour MP Christian Matheson has quit after a Parliamentary watchdog upheld two claims of sexual misconduct. The Independent Expert Panel told Matheson to take leave from Westminster after complaints from a junior member of staff, breaching policies of Parliament’s Independent Complaints and Grievance Scheme. Labour branded it an “incredibly serious case” and that chief [...]
Truss’ diagnosis of Britain’s growth riddle should be remembered October 21, 2022 The Italian Ambassador to Britain is this week a very grumpy man. The source of his angst is the cover of The Economist newspaper, which this week reads “welcome to Britaly,” alongside a mock-up of Liz Truss as a kind of Milanese Boudicca, branding spaghetti atop her spear and protected by a shield made of [...]
UK borrowing costs cool after Truss quits as shortest serving PM ever October 20, 2022 UK borrowing costs scaled lower today after Liz Truss exited as the shortest serving prime minister on record at 44 days. Yields on the 10-year gilt dropped around 27 basis points to 3.8 per cent after Truss resigned in the early afternoon. They had been trending higher during early trading. Rates on the 30-year gilt, [...]
Doubts cast over 31 October fiscal statement after Truss resignation October 20, 2022 There are growing doubts over whether the fiscal statement will be delivered on 31 October following Liz Truss’s resignation as prime minister today after just 44 days in office, City A.M. understands. Truss’s exit has triggered a second Tory leadership race this year that is expected to yield a new prime minister on 28 October, [...]
Boris Johnson expected to run in the Tory leadership contest October 20, 2022 Boris Johnson is expected to stand in the Tory leadership contest next week, with sources close to him saying he thinks it’s in the “national interest” for him to run. The Times is reporting that Johnson’s allies are taking soundings within the Tory parliamentary party and that he will likely put himself forward as a [...]
It’s done: Liz Truss resigns as UK Prime Minister October 20, 2022 Liz Truss has announced her resignation as UK Prime Minister and will become this country’s shortest-ever serving leader. It comes after a sensational collapse of confidence in her premiership from within the Tory party, after her mini-Budget tanked financial markets, she sacked two senior cabinet ministers and she U-turned on her entire economic platform. Truss [...]