BREAKING: Kwasi Kwarteng has cut short a trip to the US to fly back to London where is widely expected to announce the mother of all U-turns.
Mr Kwarteng had been due to hold further meetings in Washington DC where he was attending a meeting of global finance ministers.
But after a day of rumours that the prime minister was in discussions about dropping key tax pledges amid fears her government could collapse, the late rush back to London will be widely seen as an attempt to avert a crisis. A pledge to scrap a planned increase in corporation tax from 19% to 25% is widely considered likely to be dropped altogether.
After weeks of insisting there would be no U-turn, he told The Telegraph ‘let’s see’ when asked if a dramatic change in policy is coming yesterday.
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