Kwasi Kwarteng to bring forward fiscal statement to later this month amid disquiet in party over spending cuts hitting poorest
Conservative MPs are plotting to avert a squeeze on welfare after Liz Truss was forced into two humiliating U-turns on plans to abolish the top rate of income tax and the date of a new mini-budget.
The Guardian understands Kwarteng will speed up plans for a new fiscal statement, expected to focus on spending and deregulation. It will now take place later this month, rather than on 23 November as previously scheduled, accompanied by new forecasts from the Office of Budget Responsibility, in another move designed to restore market stability.