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PM’s move to replace chancellor and commit to raising corporation tax fails to placate markets or Tory MPs Liz Truss is desperately clinging to her premiership after she sacked her chancellor and ripped up the mini-budget but failed to calm the financial markets or furious Conservative MPs. In a humiliating reversal, the prime minister backed down on plans to scrap an £18bn rise in corporation tax and replaced Kwasi Kwarteng as chancellor with Jeremy Hunt. Continue reading… ​PM’s move to replace chancellor and commit to raising corporation tax fails to placate markets or Tory MPsLiz Truss is desperately clinging to…

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Sterling fell, FTSE 100 lost its gains and bond yields rose after PM’s press conference failed to announce new direction Three weeks of chaos that cost more than Kwarteng’s jobJeremy Hunt appointed chancellor after sacking KwartengPM to raise corporation tax in another humiliating U-turn Liz Truss has failed to quell the turmoil in financial markets as investors attempted to assess the fallout from Kwasi Kwarteng’s sacking. Sterling fell 1.3% to $1.1188 on a rollercoaster day for the currency. The pound dropped sharply after Kwarteng’s exit from the cabinet was confirmed before recovering some lost ground as Jeremy Hunt was named…

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Former PM creates 13 Conservative peers but widely expected honour for former Mail editor goes missing Boris Johnson’s political honours list has seen peerages awarded to a string of former Tory MPs and other allies and party donors – although not to Paul Dacre, the former editor of the Daily Mail. Dacre had been widely tipped to be made a peer, but there had been calls for this to be delayed or suspended after legal action begun by a series of prominent people over alleged intrusion into privacy by the Mail’s publisher. Continue reading… ​Former PM creates 13 Conservative peers…

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 The Scottish star is best known for playing the beloved Hogwarts gamekeeper Hagrid and psychologist Dr Eddie ‘Fitz’ Fitzgerald in ITV’s crime drama. The Scottish star is best known for playing the beloved Hogwarts gamekeeper Hagrid and psychologist Dr Eddie ‘Fitz’ Fitzgerald in ITV’s crime drama. 

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  Jeremy Hunt – who backed Liz Truss’s rival Rishi Sunak during the Conservative leadership race – has been appointed as the new Chancellor of the Exchequer. ​Jeremy Hunt – who backed Liz Truss’s rival Rishi Sunak during the Conservative leadership race – has been appointed as the new Chancellor of the Exchequer. 

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CQC ‘reviewing evidence’ after footage shows 88-year-old Ann King’s treatment at Reigate Grange ‘I will always hear her screams’: family tell of heartbreak over care home abuse The provider of a luxury care home where an 88-year-old woman with dementia was abused is facing possible criminal action as a government minister said he was “shocked and saddened” at her mistreatment. After the Guardian published secret camera footage showing Ann King being abused at the £2,000-a-week Reigate Grange care home, the Care Quality Commission said on Friday it was “reviewing this evidence and working with other stakeholders to determine whether regulatory…

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