Liz Truss to give press conference today & is expected to confirm second mini budget U-turn | The Sun

LIZ Truss will hold a press conference today where she's expected to announce a SECOND mini-budget u-turn.

The PM is likely to confirm that plans to scrap a rise in corporation tax next year will no longer go ahead.

And Ms Truss is expected to confirm that Kwasi Kwarteng has been sacked as Chancellor.

An embattled Mr Kwarteng last night hinted a u-turn on corporation tax was imminent, as he said "let's see" if the promised tax cut goes ahead.

This morning the Chancellor touched down in London after cutting short his US trip to hold urgent talks with Ms Truss. 

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Within minutes of landing at Heathrow Airport reports emerged that he will be fired by his close friend and ally, the PM.

Rebellious Tory MPs have been urging the Chancellor to row back on his £45billion mini budget tax spree to calm the jitters in the money markets.

Mr Kwarteng yesterday admitted his "Growth Plan", delivered less than three weeks ago, had caused some "turbulence".

But he remained steadfastly committed to his laser-focused mission to turbocharge the economy – and insisted he was "going nowhere".

Treasury sources said he was coming back to the UK early to work on his Halloween statement, where he will lay out his plan to wrestle down Britain's debt.

This morning new trade minister Greg Hands insisted there were "no plans" to change the mini-Budget and tried to play down the uncertainty.

He told LBC: "The Prime Minister and the Chancellor are absolutely determined to stick to the growth plan, to stick to the changes they outlined.

"There are absolutely no plans to change anything, except for the fact that there is going to be a medium-term fiscal plan."

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