LIZ TRUSS

LONDON — (AP) — Britain's Treasury chief said Friday that taming inflation is more important than cutting taxes, resisting calls from some in the governing Conservative Party for immediate tax breaks for businesses and voters. It has since eased but still reached a painful 10.5% in December and is the highest since the 1980s. Prime Minister Rishi Sunak has promised to halve the inflation rate from those levels by the end of the year. The U.K. economy, like others around the world, has been rattled by pandemic restrictions and the shockwaves from Russia's invasion of Ukraine. Most economists agree that Brexit has weighed down the economy by making it harder for U.K.-based businesses to trade with the 27-nation EU.

Britain’s Treasury chief says taming inflation is more important than cutting taxes.

Internal Tory dissatisfaction is always an opportunity for renegades on the Right. Boris Johnson and Liz Truss haven’t gone too far.

In the past decade, conspiratorial thinking has shifted from a worrying factor in Republican politics to a defining feature.

U.K. house prices will fall by up to 10% this year, as higher mortgage rates and the broader cost of living crisis curtail home buying, Lloyds Bank CEO Charlie Nunn told CNBC on Tuesday.

U.K. Prime Minister Rishi Sunak is expected to highlight the benefits of remaining in the U.K. when he meets with the Scottish leader during his first visit to Scotland since taking office.

Cambridge-based Arm is a major force in the semiconductor market, licensing its designs to some of the world's largest consumer tech manufacturers.

2022 was the year in which Great Britain lost its queen of seven decades, gained a new king and saw three prime ministers take office. The year concluded with multiple strikes and inflation near 11%.

Three prime ministers and two monarchs make 2022 the year of greatest change for the United Kingdom as energy and economic crises continue to loom through the winter.

Britain broke all the wrong records in 2022, with its currency tumbling to an all-time low, the biggest-ever spike in government bond yields and the shortest-serving leader in history. The blowup was triggered in September by Prime Minister Liz Truss’s unorthodox plan to cut taxes and increase borrowing in an effort to boost economic growth. But this was a crisis years in the making, and it didn’t end with her downfall after six weeks in office. Government instability and trade disruption due to

Clowns contribute positively to politics and society, from healthcare to education to humanitarianism. Politicians? Not so much.

Rishi Sunak appoints boss of Historic England to the role, which has been vacant for six months.

Wide swathes of British workers in the public sector are in open revolt against 12 years of conservative “austerity budgets” and the soaring costs of living

Britain’s opposition Labour Party says it will replace Parliament’s unelected upper house with an elected chamber if it wins government.

Mr Burns, who was fired over allegations he touched a man's thigh, will be readmitted to Tory party.

LONDON — (AP) — Britain's opposition Labour Party has handily won a special election for a northwest England seat in Parliament, the first test of voter sentiment since Conservative Prime Minister Rishi Sunak took office in October. Labour held onto the City of Chester constituency with an increased vote share of 61%, according to results announced Friday. Labour won 50% of the votes in Chester at the last national election in 2019. Thursday’s election was called after Labour lawmaker Christian Matheson stepped down over allegations that he made inappropriate sexual advances to a member of his staff. “There are some indications that there are opportunities there for the Tory party,” he told Sky News.

Britain’s opposition Labour Party has handily won a special election for a northwest England seat in Parliament.

Britain broke all the wrong records in 2022, with its currency tumbling to an all-time low, the biggest-ever spike in government bond yields and the shortest-serving leader in history. The blowup was triggered in September by Prime Minister Liz Truss’s unorthodox plan to cut taxes and increase borrowing in an effort to boost economic growth. But this was a crisis years in the making, and it didn’t end with her downfall after six weeks in office. Government instability and trade disruption due to

LONDON — (AP) — Rishi Sunak has been Britain's prime minister for a month. He is facing a slowing economy, a cost-of-living crisis — and a governing Conservative Party that is fractious and increasingly unpopular after 12 years in power. But he said Sunak’s popularity “is not showing signs of rubbing off onto the Conservative Party brand.”In the same survey the Conservative Party was liked by just 26%, and disliked by 62% — the worst figures for the party in 15 years. Britain’s economy is being weighed down by the pandemic, by Brexit and especially by Russia’s invasion of Ukraine, which has driven global energy prices sky-high. Johnson and Truss both seemed to delight in riling the bloc to placate the powerful euroskeptic wing of the Conservative Party.

In his first month as Britain's prime minister, Rishi Sunak has stabilized the economy, reassured allies from Washington to Kyiv and even soothed the European Union after years of sparring between Britain and the bloc.

Any potential hits to the U.K. economy can complicate matters for the U.S., making its new prime minister's plan globally important.

“The truth is, we just got a lot poorer,” Paul Johnson, director of the Institute for Fiscal Studies think tank, said. Hunt also renounced the central principle touted by Kwarteng and Truss: that lower taxes are the key to economic growth. “Sound money matters more than low taxes,” he said. But some Conservatives grumbled that Hunt was abandoning the right-of-center party’s longstanding commitment to low taxes. “Next spring, we are going to have this perfect storm of energy bills going up, cost of living continuing to rise and energy bills at their peak,” Lewis told radio station LBC.

Britain’s Conservative government is defending its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation.

Treasury chief Jeremy Hunt will deliver the government’s plan for tackling a sputtering economy in a speech to the House of Commons on Thursday. Hunt is expected to announce 30 billion pounds in spending cuts and 24 billion in tax increases, the BBC and other British media reported. Welfare recipients and pensioners also are looking for higher payments, and low-income families are calling for an expansion of the free school lunch program. But resources are limited, with Sunak facing a budget shortfall of at least 40 billion pounds ($47 billion) that he says will require both tax increases and spending cuts to close. For 5 pounds, people can buy 20 items of fresh fruit, vegetables and essential items like tinned beans and pasta.

Millions of people across Britain are facing higher taxes and energy bills after the government announced an emergency budget focused on restoring the country’s financial credibility and bolstering an economy battered by soaring inflation.

The boom in market-based finance has taken risks away from regulated lenders, but recent crises show they’re still exposed.

Most papers focus on Chancellor Jeremy Hunt's spending plans in the Autumn Statement, where he is expected to set out "difficult decisions".

LONDON — (AP) — Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans on Thursday. Consumer prices rose 11.1% in the 12 months through October, compared with 10.1% in September, the Office for National Statistics said Wednesday. Higher prices for food and energy drove October’s inflation rate to the highest since October 1981, the ONS said. The U.S. inflation rate fell to 7.7% in October from 8.2% in September. This material may not be published, broadcast, rewritten or redistributed without permission.

Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday.

Millions are hoping British Prime Minister Rishi Sunak finds money to help them survive a cost-of-living crisis when the government releases its spending plans Thursday.

Leaders of the world's largest economies appear ready to send a strong message to Russia condemning its invasion of Ukraine.

Britain’s Treasury chief, Jeremy Hunt, has warned that a spending crunch and tax increases are on their way as he bids to fill the “black hole” in the country’s finances.

The impact of the "disastrous" mini-budget and the spending cut plus tax rises plans to fix it lead the Sunday papers.

LONDON — (AP) — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. GDP shrank by 0.6% in September, and by 0.1% in August, the statistics office said. It said the U.K. economy is now 0.2% smaller than in February 2020, just before the COVID-19 pandemic shut down big chunks of the economy for months. The U.K.'s finances worsened when then-Prime Minister Liz Truss announced a huge package of unfunded tax cuts on Sept. 23. Hunt is due to make an emergency budget statement next week that is expected to include both tax increases and public spending cuts.

Statistics show that Britain’s economy shrank in the three months to September, and forecasters are warning of many months of contraction to come.

An interview with ex-chancellor Kwasi Kwarteng and leaked remarks from TV's David Walliams lead the papers.

It’s the first time since 2007 that a U.K. leader has gone to the British Irish Council, which brings together government representatives from the U.K., Ireland and semi-autonomous administrations in Scotland, Wales and Northern Ireland. The checks are designed to keep an open border between Northern Ireland and neighboring Ireland, an EU member. In the absence of a government, civil servants will represent Northern Ireland at the council's meeting. At the summit in northwest England, Sunak will meet with Irish Prime Minister Micheál Martin and the leaders of Scotland and Wales, Nicola Sturgeon and Mark Drakeford. ___Follow the AP's coverage of U.K. politics and Rishi Sunak at https://apnews.com/hub/rishi-sunakCopyright 2022 The Associated Press.

Prime Minister Rishi Sunak is aiming to repair frayed relations with Britain’s European Union neighbors and with skeptical leaders in Scotland and Wales.

The populist revolution may end up reshaping Britain more dramatically than America.

A senior member of British Prime Minister Rishi Sunak’s government has resigned after mounting allegations that he bullied colleagues.

President Joe Biden will aim to assert America’s global leadership during his upcoming visit to Southeast Asia for meetings with world leaders.

Behind wire fences in southeast England, children wave their arms and chant “freedom” to grab the attention of people on the other side.

The Bank of England boosted its key rate by thee-quarters of a percentage point, to 3%, after consumer price inflation soared to a 40-year high.

LONDON — (AP) — The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fueled by Russia’s invasion of Ukraine and the disastrous economic policies of former Prime Minister Liz Truss. The bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September. The rate increase is the Bank of England’s eighth in a row and the biggest since 1992. The rate increase will likely be the Bank of England's eighth in a row and biggest since 1992. That pushed consumer price inflation back to 10.1%, the highest since early 1982 and equal to the level last reached in July.

The 75 basis point increase takes the Bank Rate to 3%, its eighth consecutive hike to the main lending rate.

Plus, wholesale natural gas prices, while down from their August peak, are likely to rise again this winter, driving up energy bills and further fueling a cost-of-living crisis. The rate increase will likely be the Bank of England's eighth in a row and biggest since 1992. The U.K. also has struggled as wholesale gas prices increased fivefold in the 12 months through August. That pushed consumer price inflation back to 10.1%, the highest since early 1982 and equal to the level last reached in July. Andrew Bailey said last month that policymakers “will not hesitate” to raise interest rates to return inflation to the bank’s 2% target.

The Bank of England has rolled out its biggest interest rate increase in three decades, saying the move is needed to beat back stubbornly high inflation that's eroding living standards and is likely to trigger a “prolonged” recession.

The British pound is on firmer footing since the appointment of PM Rishi Sunak, but Wall Street still sees further vulnerability over the next 12 months.

Liz Truss may have been the victim of a Russian cyberattack while serving as foreign secretary and helped coordinate the British response to Russia's invasion of Ukraine.

The market expects the Bank of England to raise interest rates by 75 basis points on Thursday, its largest hike since 1989.

British politicians are demanding the Conservative government improve conditions at an overcrowded facility for migrants, described by an independent inspector as “wretched.”.

Following a report that Russian spies hacked former British Prime Minister Liz Truss' phone over the summer, politicians are demanding an investigation into the claim.

Claims say Russian spies were suspected of the hack.

LONDON — (AP) — The British government insisted Sunday it has robust cybersecurity for government officials, after a newspaper reported that former Prime Minister Liz Truss’ phone was hacked while she was U.K. foreign minister. The Mail on Sunday said that the hack was discovered when Truss was running to become Conservative Party leader and prime minister in the summer. It said the security breach was kept secret by then-Prime Minister Boris Johnson and the head of the civil service. Opposition parties demanded an independent investigation into the hack, and into the leak of the information to a newspaper. “Was Liz Truss’s phone hacked by Russia, was there a news blackout and if so why?” said Liberal Democrat foreign affairs spokesperson Layla Moran.

The British government insisted Sunday it has robust cybersecurity for government officials

The British government insisted Sunday it has robust cybersecurity for government officials.

The Russian agents would have had access to details about Ukraine weapon shipments and criticisms Liz Truss privately raised about then-Prime Minister Boris Johnson.

The new British Prime Minister gave voice to a popular conservative attack on liberal London that has dangerous connotations.

Downing Street says the two leaders pledged to work on deterring "deadly journeys" in the Channel.

Speaking at a conference of international foreign policy experts, Putin said it's pointless for Russia to strike Ukraine with nuclear weapons. Putin, who sent his troops into Ukraine on Feb. 24, has cast Western support for Ukraine as part of broad efforts by Washington and its allies to enforce its will upon others through a rules-based world order. Putin said he personally ordered Russian Defense Minister Sergei Shoigu to call his foreign counterparts to tell them about the purported plot. “They need to respect the crown prince and Saudi Arabia, and they will respond in kind,” Putin said. Putin also acknowledged the challenges posed by Western sanctions, but argued that Russia has proven resilient to foreign pressure and has become more united.

LONDON — (AP) — British Prime Minister Rishi Sunak will not attend a major United Nations climate conference next month, the government said Thursday. Sunak’s office said the decision was made because of “pressing domestic commitments” including preparations for an emergency budget on Nov. 17 and does not reflect a downgrade in the Conservative government’s commitment to combating climate change. Sunak took office on Tuesday, replacing Liz Truss, who stepped down after a seven-week term in which her tax-cutting plans sparked economic and political mayhem. Britain hosted last year’s COP26 conference in Glasgow, Scotland, which was attended by then-Prime Minister Boris Johnson. “They are forcing mechanisms for action on the biggest issue we face as a world.”___Follow all AP stories on climate change at https://apnews.com/hub/climate-and-environment.

The British government says new Prime Minister Rishi Sunak will not attend the major United Nations climate conference next month

The British government says new Prime Minister Rishi Sunak will not attend the major United Nations climate conference next month.

Russian President Vladimir Putin has denied having any intentions of using nuclear weapons in Ukraine but described the conflict there as part of alleged efforts by the West to secure its global domination.

Britain’s new Prime Minister, the nation’s third in seven weeks, will aim to steer an unpopular party through record inflation and a looming energy emergency.

The Northern Ireland Assembly has failed to elect a speaker, setting the stage for an unwanted early election.

The European Central Bank has made another outsized interest rate hike aimed at squelching out-of-control inflation, moving at the fastest pace in the euro currency’s history.

As he makes tough decisions to stem Britain’s economic crisis, Prime Minister Rishi Sunak says he will “always protect the most vulnerable.”.

LONDON — (AP) — Rishi Sunak faced the opposition in Parliament for the first time as Britain's prime minister Wednesday, promising to restore economic stability after his predecessor's tax plans triggered market tumult. Sunak ripped up more of predecessor Liz Truss' flagship policies, reinstating a moratorium on fracking for shale gas that Truss had lifted. Plans for large-scale deregulation of the economy, part of Truss' vision to unleash economic growth, are also under review, Sunak's spokeswoman said. “We will have to take difficult decisions to restore economic stability and confidence,” Sunak told the House of Commons. Sunak also kept in place Treasury chief Jeremy Hunt, whom Truss appointed two weeks ago to steady the markets.

British Foreign Secretary James Cleverly is facing criticism after telling gay soccer fans heading to the World Cup in Qatar that they should show some “compromise” and "be respectful of the host nation.”.

The new prime minister will keep Jeremy Hunt, Suella Braverman, James Cleverly and Penny Mordaunt in their jobs.

The economic statement was originally set to be announced on Halloween. “But it’s also extremely important that that statement is based on the most accurate possible economic forecasts and forecasts of public finances." The timing of the statement means that the Bank of England will deliver its ruling on interest rates before the government details its new economic plan. In taking charge on Tuesday, Sunak pledged to tackle economic issues head on. He announced he would retain Hunt, who had been appointed by Truss to steady the markets two weeks ago.

The much-anticipated statement will now take place on 17 November, the chancellor says.

UK Treasury Chief Jeremy Hunt has delayed his much-anticipated economic statement until Nov. 17.

But the Federal Reserve should act to make the Treasury market more resilient.

LONDON — (AP) — British Prime Minister Rishi Sunak is holding the first meeting of his new Cabinet before facing the opposition in Parliament on Wednesday for the first time as leader. Sunak is seen by Conservatives as a safe pair of hands they hope can stabilize an economy sliding toward recession — and stem the party's plunging popularity. Sunak brought in people from different wings of the Conservative Party for his Cabinet. He faces a backlash for reappointing Home Secretary Suella Braverman, who resigned last week after breaching ethics rules by sending a sensitive government email from a private account. The government has not confirmed whether Hunt’s statement, due on Oct. 31, will be delayed because of the change of prime minister.

Rishi Sunak has faced the opposition in Parliament for the first time as Britain's prime minister, promising to restore economic stability after his predecessor’s tax plans triggered market tumult.

They are two photos taken exactly seven weeks apart, capturing the traditional and ceremonial rites of the monarch meeting the British prime minister-in-waiting to ask them to form a new government.

Rishi Sunak has become Britain’s third prime minister this year.

Observers of British politics can be forgiven for scratching their heads in recent weeks as they watch the country reel through a succession of prime ministers without holding an election.

In the end, all of Boris Johnson’s bluster couldn’t hide the facts: He didn’t have the votes to win the Conservative Party leadership contest and stage a political comeback just weeks after being forced out as prime minister.

Rishi Sunak ran for Britain’s top job and lost.

Former Treasury chief Rishi Sunak is set to become Britain’s first prime minister of color after being chosen to lead the governing Conservative Party.

Shares are mostly higher in Asia after stocks shook off an early bout of unsettled trading and ended higher on Wall Street.

Former British Prime Minister Boris Johnson says he will not run to lead the Conservative Party, ending intense speculation about a comeback.

Former Prime Minister Boris Johnson has returned to Britain ahead of a possible tilt at reclaiming his former job.

Across Europe, soaring inflation is behind a wave of protests and strikes that underscores growing discontent with the spiraling cost of living and threatens to unleash political turmoil.

On the same day as British Prime Minister Liz Truss resigned from office after serving for only six weeks, Netflix decided to choose chaos and drop the trailer for the new season of “The Crown.”

British government debt rose to the highest level in almost 60 years last month and retail sales slumped.

Several British lawmakers are jockeying to become the country’s next leader following the implosion of Liz Truss’ historically short-lived government.

British Prime Minister Liz Truss took office last month with hopes and promises of reinvigorating the British economy and putting it on the path to long-term success.

Liz Truss’ resignation as British Prime Minister has triggered another leadership race — the second in just four months — for the U.K.’s fractured and demoralized Conservative Party.

When the United Kingdom walked out of the European Union two years ago, Brexit supporters believed that British pragmatism and common sense would not only see them through but would allow their country to flourish as it stood alone.

British Prime Minister Liz Truss quit Thursday after a tumultuous and historically brief term in which her economic policies roiled financial markets and a rebellion in her political party obliterated her authority.

Asian shares are mostly lower in muted trading as investors keep an eye on inflation.

The government of British Prime Minister Liz Truss is teetering on the verge of collapse, just hours after she vowed to keep governing.

This has not been a good week for Liz Truss.

As British Prime Minister Liz Truss struggles to retain her authority, one man is seen to be in the real position of power to restore order and credibility to the Conservative government and limit the damage caused by Truss’ economic plans.

New U.K. Treasury chief Jeremy Hunt has reversed most of an economic package announced by the government just weeks ago, including a planned cut in income taxes.

British Prime Minister Liz Truss has only been in office for six weeks.