In another serious blow to her authority as prime minister, government sources told the Guardian that a climbdown on the plan to scrap the rise in corporation tax was now “on the table”.
After weeks of defending the proposal, Downing Street officials and ministers are now trying to balance the books after announcing a huge package of unfunded tax cuts.
Kwasi Kwarteng, in Washington for a meeting of the International Monetary Fund, was forced to deny his position as chancellor was in peril, insisting he was “absolutely, 100%” confident he would still be in post next month despite a growing Tory rebellion.
Read more at The Guardian
