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Kwarteng dismisses row generated by 45% tax plan as ‘a little turbulence’
Kwarteng says the plan put forward 10 days ago has caused “a little turbulence”. He goes on: “I get it,” he says. The government listened.
I can be frank. I know the plan put forward only 10 days ago has caused a little turbulence.
I get it. I get it. We are listening and have listened, and now I want to focus on delivering the major parts of our growth package.
He was probably being ironic when he talked of “a little turbulence”, but this line makes him sound like Jacob Rees-Mogg. (See 3.57pm.)
Key events
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UK’s first prototype nuclear fusion power station to be built by 2040
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Government announces it will replace GDPR rules
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Rees-Mogg: ‘if people want to call me Tory scum, I don’t mind’.
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Badenoch urges Tories to unite behind Truss, and to express concerns in private, not through media
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Lockdown at Tory conference lifted after security alert lasting around 90 minutes
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Kwarteng’s speech – verdict from Twitter commentariat
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Kwasi Kwarteng’s speech – snap verdict
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Kwarteng pledges to review, replace or repeal retained EU law ‘holding our country back’
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Kwarteng dismisses row generated by 45% tax plan as ‘a little turbulence’
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Kwarteng starts his speech to Tory conference
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Rees-Mogg claims 45% tax rate U-turn not significant
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Truss picked ‘cronies off backbenches’ for cabinet, says Heseltine
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Irish PM Micheál Martin says Steve Baker’s Brexit apology to EU and Ireland ‘very, very helpful’
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Why Tory rebels could find it harder to defeat PM over benefits or spending cuts
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Schools minister confirms intention to lift ban on new grammar schools in England before election
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Kwarteng set to address Tory conference with his authority on the line after 45% tax rate U-turn
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UK and EU to resume technical talks on Northern Ireland protocol this week
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Even with tax U-turn, richest families still gain 40 times as much as poorest ones from mini-budget, says thinktank
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Labour says it would be ‘grotesque’ not to increase benefits in line with inflation
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Former DWP secretary Esther McVey says it would be ‘huge mistake’ not to raise benefits in line with cost of living
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Former culture secretary Nadine Dorries says Truss should call election if she wants mandate for new agenda
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Tory mayor Ben Houchen says U-turn on 45% tax rate does not wholly solve problem because ‘damage is already done’
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No 10 says Truss still has confidence in chancellor
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Gove says he’s now willing to vote for mini-budget – but still unhappy about prospect of benefits not rising with inflation
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Fracking ‘not going to happen’ because communities don’t support it, says Damian Green
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Liz Truss needs six to 12 months of hard work ‘to persuade public she’s competent’, says Damian Green
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TUC accuses Truss of breaking promise not to return to austerity
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45% tax rate U-turn will have ‘essentially no effect on fiscal sustainability’ of mini-budget, says IFS
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Tory donor criticises tax U-turn, saying it’s wrong being governed by media reaction ‘which is not necessarily rational’
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UK government bonds strengthen after tax U-turn
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Kwarteng claims he feels ‘humility and contrition’ over 45% top rate of tax U-turn
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Kwarteng rules out giving departments £18bn needed to compensate for higher than expected inflation
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Kwarteng dismisses suggestion that Truss was blaming him for 45p plan in her BBC interview yesterday
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Labour says the U-turn is too late, because the mini-budget is already leading to higher mortgates
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Kwarteng says it was mistake attending champagne reception for Tory donors on day of mini-budget
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Kwarteng rejects claims that it was plan to abolish 45% rate that triggered need for £65bn Bank of England intervention
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Kwarteng suggests Truss took decision to perform U-turn
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‘Not at all’ – Kwarteng says he has not considered resigning over 45% top rate tax policy
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Kwarteng tells BBC Breakfast that 45p plan a ‘distraction’ from ‘good set of policies’
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Kwarteng confirms U-turn on abolition of 45% top rate of tax, saying plan was ‘distraction’ and ‘we get it’
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How Liz Truss said she was absolutely committed to abolishing 45% top rate of tax yesterday
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Truss expected to abandon plan to abolish 45% top rate of income tax
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UK’s first prototype nuclear fusion power station to be built by 2040
Jacob Rees-Mogg has announced the UK’s first prototype nuclear fusion power station will be built in Nottinghamshire by 2040.
He told the Conservative Party conference: “Over the decades we have established ourselves as pioneers in fusion science and as a country our capabilities to surmount these obstacles is unparalleled, and I am delighted to make an announcement of a vital step in that mission.
“We will build the UK’s first prototype fusion energy plant in Nottinghamshire, replacing the West Burton coal-fired power station with a beacon of bountiful green energy.”
Rees-Mogg added: “The plant will be the first of its kind, built by 2040 and capable of putting energy on the grid, and in doing so will prove the commercial viability of fusion energy to the world.”
Iran’s most senior diplomat in the UK was summoned to the Foreign Office on Monday, over the country’s crackdown on the wave of protests.
Thousands of Iranians have taken to the streets in protest at the death of 22-year-old Mahsa Amini, who had been detained by police in the capital Tehran for allegedly not adhering to Iran’s Islamic dress code.
The foreign secretary said he had instructed the Foreign Office to summon Mehdi Hosseini Matin.
James Cleverly said: “The violence levelled at protesters in Iran by the security forces is truly shocking.
“Today we have made our view clear to the Iranian authorities – instead of blaming external actors for the unrest, they should take responsibility for their actions and listen to the concerns of their people.
“We will continue to work with our partners to hold the Iranian authorities to account for their flagrant human rights violations.”
Government announces it will replace GDPR rules
The government “will be replacing GDPR (general data protection regulation) with our own business and consumer friendly British data protection system,” culture secretary Michelle Donelan announced.
Making her speech at the ICC in Birmingham, she said the “bureaucratic nature” of EU GDPR “is still limiting the potential of our businesses”.
She added: “That is why today, conference, I am announcing that we will be replacing GDPR with our own business and consumer friendly British data protection system.”
Rees-Mogg, whose residence is the 17th-century Gournay Court in the parish of West Harptree, Somerset, earlier welcomed fracking on his land.
“Yes, of course I would. I would be delighted, particularly if I get these royalties,” he said.
“If we do what I’m suggesting on shale gas you would be doing a public service by doing it in your back garden but you’d also get paid for it.”
Rees-Mogg has claimed “the Prime Minister since she took office has completed about a year’s Government business in a fortnight”.
The business secretary added: “I am glad to say, the Prime Minister, and I say this as minister for energy, is a genuine dynamo and is producing electric fields that are making sure things get done.
“She knows how urgent the challenges we face are. And the challenges are particularly in energy. First of all, affordability this winter, second, securing energy supplies. And third, what I’d like to call intelligent net zero. And how are we tackling those challenges? Well, rapidly is the answer.”
Rees-Mogg pointed to the energy price guarantee for households and the energy bill relief scheme for businesses, before adding: “There may be some people who think it’s not Conservative to intervene in this way.
“But I would say that there was no question that we had to come to the British people’s aid.”
Jacob Rees-Mogg said Boris Johnson’s plans for a new royal yacht are not in the “realms of reality” as he suggested it should be scrapped.
The business secretary described it as a “ship that has sailed”, as he said the “glorious distraction” set to cost 250 million could not go ahead in a cost-of-living crisis.
When prime minister, Johnson had described a new national flagship as a chance for the UK to “show itself off to the world” and “revive the shipbuilding industry”.
Labour said the plan for a ship to succeed the Royal Yacht Britannia should be scrapped. The money had been set to come from the Ministry of Defence (MoD) budget.
Rees-Mogg told a recording of the Chopper’s Politics for the Telegraph: “I think it’s a glorious distraction I’m afraid.
“It’s too late, it was wonderful whilst it lasted but there are lots of things that Tories have a sentimental attachment to but once they’ve gone it’s impossible to bring back.
“I think the royal yacht is in that category and we are facing a cost-of-living problem, I just don’t think it’s in the realms of reality to have a royal yacht when you’re facing a cost-of-living problem.
“Dare I say I think it is a ship that has sailed.”
An MoD spokeswoman said: “The design phase for the national flagship is due to be completed soon and an announcement will be made in due course.”
Rees-Mogg: ‘if people want to call me Tory scum, I don’t mind’.
Jacob Rees-Mogg has declared “if people want to call me Tory scum, I don’t mind”.
Speaking at the Conservative Party conference in Birmingham, the business secretary said: “Well, ladies and gentlemen, thank you and congratulations for coming to the conference in spite of the best efforts of Mr Mick Lynch, who seemed to wish to get in the way.”
He added: “You make sure we have Conservative governments and you getting here was proof of that. Some of you may think that I should be going around the trains, putting out little calling cards saying how much I look forward to seeing people back at work soon.
“Because, actually, we have a tireless quest for productivity in this country and we need to make sure that everybody is working efficiently, and we want them obviously to be working in their proper places of work.
“Also I wanted to thank you for giving me almost a warmer welcome as I got outside the hall.
“But I think that’s rather marvelous, I happen to think that having a democracy where you can actually walk through the streets and people can exercise their right to peaceful protest shows the strength of our society.
“And if people really want to call me Tory scum, I don’t mind.”
Sally Weale
Education minister Andrea Jenkyns has been mocked on social media after she told a fringe event at the Conservative party conference that the current education system would rather young people get a degree in “Harry Potter studies” than in construction.
Jenkyns, minister for skills, further and higher education, told her audience that students were being fed a diet of “critical race theory, anti-British history and sociological Marxism” in universities, and she promised a government clear out of low quality courses.
Jenkyns, who was memorably photographed sticking up her middle finger at protestors after Boris Johnson’s resignation speech, told the Bruges Group event: “A skilled modern economy competing on the global stage requires technical skills just as much as it needs graduates.
“Yet the current system would rather our young people get a degree in Harry Potter studies than the apprenticeships shaping construction. It doesn’t take magic powers to work out that this is wrong, which is why the government is committed to putting the broomstick to good use and carrying out a spring clean of low quality courses.”
Sam Freedman, former senior policy adviser at the Department for Education, responded on Twitter: “Number of students currently studying architecture, building, planning and engineering = 245,395. Number currently studying ‘Harry Potter Studies’ = 0.”
Badenoch urges Tories to unite behind Truss, and to express concerns in private, not through media
Andrew Sparrow
Kemi Badenoch, the new international trade secretary, got a tremendous round of applause when she arrived for her session on stage. Some surveys suggested that, if she had been on the final ballot, she would have won the Tory leadership. She was taking part in a Q&A, rather than delivering a speech, and she used it to appeal for unity. She also urged MPs with concerns about policy to express them in private, not through the media. She said:
As a party, we need to get behind the prime minister because if you don’t do that, then none of that …
We need unity. And we need to be able to have dissent in a grown-up fashion. I think, when other people have problems with policy, I think there is a way of communicating it and not necessarily rushing to the first TV studio to let everybody know how angry you are.
Some of the people who have done this are my friends, but it is not helpful for the whole party. So, the party needs to come together. But we also need to remember who our real opponents are and that’s the Labour party.
That’s all from me for today. My colleague Nadeem Badshah is taking over now.
Ranil Jayawardena, the new environment secretary, used his speech to the party conference to say that, under Liz Truss, the Department for Environment, Food and Rural Affairs would stop being a “regulatory department” and become an economic growth department. He said:
I can assure you all today that my department should no longer be seen as one that follows the EU, imposes rules and impedes innovation.
Instead of being a regulatory department, we are now an economic growth department.
Food and drink is our largest manufacturing sector.
It is bigger than automotive and aerospace put together, with a presence in every constituency in this country.
The opportunity for growth in the sector is enormous – and it will bring jobs, skills and prosperity across the nation.
Michelle Donelan, the culture secretary, used her speech to the conference to confirm that the online safety bill – temporary shelved after Liz Truss became PM – will return to the Commons. She said:
Last week there was the inquest into Molly Russell. It further highlighted the horrific failure of social media companies in terms of their ability to put children and young people, and their welfare, first.
I think we owe it to Molly Russell and all of Molly’s family to ensure that we do everything in our power to stop this from happening again.
Our online safety bill must be the answer and I will make sure the bill’s key objective really is ensuring that social media companies protect children online.
I can confirm here today that the bill will be returning to parliament and my dedicated team of ministers and I are working flat out to ensure that the bill is delivered.
Rachel Reeves, the shadow chancellor, says Kwasi Kwarteng’s speech shows he is “completely out of touch”. In a statement she says:
This speech showed us a chancellor and a Tory government completely out of touch, with no understanding on its own appalling record on growth.
What the chancellor called a little financial disturbance is a huge economic body-blow to working people that will mean higher prices and soaring mortgages. That’s the Tory economic premium.
This is an economic crisis made in Downing Street, paid for by working people.
Lockdown at Tory conference lifted after security alert lasting around 90 minutes
Rajeev Syal
The Conservative party conference centre was locked down for about an hour and a half due to a security scare.
Police locked all entrances and exits at about 3.30pm with ministers among those forced to wait outside. The lockdown caused widespread disruption to events inside and outside the conference venue, which is being held at Birmingham’s International Convention Centre.
The type of the security scare is unknown.
West Midlands Police tweeted this to alert people.
And just after 5pm the police said the lockdown had been lifted.
While it is routine at party conferences for police to temporarily restrict access for security reasons, it is unusual for a lockdown to be imposed for more than half an hour.
Conservative ministers have become increasingly exasperated by the policing of the event. Police have allowed noisy protestors to continue to approach delegates as they enter the complex.
Kwarteng’s speech – verdict from Twitter commentariat
Ben Quinn
While much of the response inside the hall where Kwasi Kwarteng was delivering his speech appeared muted – with one of the loudest cheers reserved for repealing EU laws – media commentators were left underwhelmed by one of the shortest conference speeches delivered by a chancellor in modern times.
My colleague Rafael Behr says Kwarteng should have kept the speech to under five minutes.
James Forsyth from the Spectator says not announcing new policy was sensible.
George Eaton from the New Statesman says the speech was empty.
Tom Newton Dunn from Talk TV says he does not think the speech will impress Tories.
Hatty Collier from the i says Kwarteng was using understatement.
Freddie Hayward from the New Statesman says the speech was contradictory.
My colleague Jessica Elgot makes the same point.
Kevin Schofield from Huffpost UK points out what’s missing.
My colleague John Crace says it was vacuous.
Duncan Weldon, the economist and former BBC journalist, decided that the speech’s narrative was a confused one.
The broadcaster Sangita Myska says most of the speech sounded like rehash.
Sam Coates, deputy political editor at Sky News, picks up on how the chancellor’s words were an implicit criticism of Boris Johnson and Rishi Sunak, the former chancellor.
My colleague Gaby Hinsliff says Kwarteng mostly ignored the problems with the mini-budget.
Kevin Maguire of the Daily Mirror was particularly scathing.
And Christopher Hope had picked up on the initial reaction in the room as Kwarteng arrived.
New polling from Savanta ComRes suggests Labour has a 25-point lead over the Conservatives
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