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Latest updates: James Heappey, defence minister, also claims that Truss deserves credit for admitting she made mistake Labour says James Heappey’s admission that no one in the cabinet realised the mini-budget was flawed (see 9.30am) shows the Tories have lost all economic credibility. In a statement Pat McFadden, the shadow chief secretary to the Treasury, said: The frank admission that they all approved the disastrous mini-budget shows the Conservatives have lost all economic credibility. They couldn’t run a bath let alone a major G7 economy. They have put a Tory premium on people’s mortgages and reduced the UK to nervously…

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  Emmanuel Macron is facing a barrage of mass walkouts today after his government forced striking staff to work to ensure fuel distribution for emergency services at gas stations. ​Emmanuel Macron is facing a barrage of mass walkouts today after his government forced striking staff to work to ensure fuel distribution for emergency services at gas stations. 

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  Treasury chief has signalled he will have a ‘clean slate’ when it comes to re-examining Kwasi Kwarteng’s disastrous mini-Budget, which spooked global financial markets and piled pressure on Liz Truss Treasury chief has signalled he will have a ‘clean slate’ when it comes to re-examining Kwasi Kwarteng’s disastrous mini-Budget, which spooked global financial markets and piled pressure on Liz Truss 

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Company warns that next 12 months will be tougher, with economy likely to go into recession The UK housebuilder Bellway has said demand for houses has moderated since the summer and it expects the number of sales to be roughly flat over the next year against a backdrop of rising interest rates and a deteriorating economy. The company completed a record 11,198 homes in the year to 31 July, up 10.5% on the previous year, as a booming housing market drove £3.5bn of revenues, up 13% and also a record. Continue reading… ​Company warns that next 12 months will be…

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UK defence minister says government still plans to spend 3% of GDP on defence by 2030 UK politics live – latest news updates The UK’s armed forces minister, James Heappey, has suggested he would resign if the prime minister did not fulfil her leadership promise to raise defence spending, after the new chancellor, Jeremy Hunt, said no department would be immune to cuts. Hunt said the full reversal of Liz Truss’s economic plans meant “decisions of eye-watering difficulty”, and suggested nothing was off the table, including defence and health spending and the pensions triple-lock. Continue reading… ​UK defence minister says…

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