With Liz Truss only a few weeks in office, the mood in the party once again appears divided as MPs hit out at the tax-cutting plans announced on Friday by Kwasi Kwarteng, with one prominent backbencher calling the plan "inept madness."
It comes as the Bank of England was forced to launch an emergency bond-buying programme to prevent borrowing costs from spiralling out of control and to stave off a "material risk to UK financial stability" The International Monetary Fund, in a highly unusual move, has already flagged serious concerns about the mini-budget.
The crisis has prompted Labour and other opposition parties to call for a recall of Parliament, so MPs can hear from the Chancellor about his plans to restore market confidence.
This story is from the September 29, 2022 edition of Manchester Evening News.
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This story is from the September 29, 2022 edition of Manchester Evening News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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