The announcement comes as Prime Minister and Chancellor Kwasi Kwarteng are expected to confirm a major U-turn on the mini-budget.
Mr Kwarteng flew back to London for crisis talks on Friday after cutting short a visit to the International Monetary Fund’s annual meeting in Washington.
Days of market turmoil followed amid concerns about the impact of his £43 billion tax gift on public finances.
When is Liz Truss speaking today?
The Prime Minister is expected to hold the press conference at 2 p.m. The guard reports.
Downing Street on Thursday did not dispute the potential for a reversal in corporate tax policy, one of Ms Truss’ landmark promises in her pitch to become Tory leader.
It came amid reports that talks were underway between No 10 and the Treasury to abandon elements of the £43bn tax cut plan.
Speculation was fueled further when, in an interview with the Telegraph, the Chancellor simply said “we’ll see” when asked about financial markets’ expectations that the government could drop its corporate tax promise.
I’m told that while Liz Truss prepares to roll back the mini-budget, Kwasi Kwarteng will be sacked as chancellor
It is unclear who will replace him
Events are moving very, very quickly this morning
— Steven Swinford (@Steven_Swinford) October 14, 2022
The Times’ Steven Swinford has been told that Liz Truss may be planning a major reshuffle.
Reports even suggest that Kwasi Kwarteng could be sacked as Chancellor, although Downing Street is yet to comment on the reports.
https://www.theargus.co.uk/news/23048390.liz-truss-announcement-today-time-liz-truss-speaking-today/?ref=rss Announcement from Liz Truss Today: When is Liz Truss speaking today?