News | Latest Breaking News Stories & Headlines

UK Chancellor Rachel Reeves in the House of Commons yesterday

Latest UK bond rout draws Truss comparisons

British government bonds tumbled sharply yesterday as a tearful appearance by Chancellor Rachel Reeves in parliament a day after the government backed down on its welfare reforms reignited concern over Britain's finances.

Business • 03 Jul

Liz Truss following the launch of the Popular Conservatism movement in central London

Liz Truss launches 'Pop Cons' faction of Tory MPs

Former British prime minister Liz Truss has launched a new movement dubbed Popular Conservatives - or Pop Cons - in a bid to rally right-wing Tory MPs ahead of a general election this year.

UK • 06 Feb 24

Britain booked a £91m loss on currency movements related to payments to the EU under the terms of the Brexit settlement during the 2022/23 financial year

Sterling's mini-budget dip made UK's Brexit bill dearer

Sterling's drop at the time of former British Prime Minister Liz Truss's failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund Brexit divorce bill payments to the European Union, paid in euros, new figures show.

Business • 01 Aug 23

Liz Truss has been asked to pay about £12,000 for costs incurred while she spent time at the Chevening estate

Liz Truss contests bill for use of country retreat

Former British Prime Minister Liz Truss is contesting a Government bill relating to her use of the grace-and-favour country house she had access to as foreign secretary.

UK • 30 Apr 23

Prime Minister Rishi Sunak congratulates Chancellor of the Exchequer Jeremy Hunt after he delivered his autumn statement to MPs in the House of Commons

UK budget will lead to 'shallower downturn' - Hunt

Britain has unveiled an austerity budget with £55 billion of tax hikes and spending cuts, despite confirming its economy is in recession.

Business • 17 Nov 22

Liz Truss delivers her final speech outside 10 Downing Street

'Brighter days lie ahead' - Truss makes farewell speech

Former British prime minister Liz Truss has said that the UK will see "brighter days" during her final speech as leader outside her Downing Street office.

UK • 25 Oct 22

Liz Truss was deputy director of the UK think-tank Reform prior to becoming a Conservative MP (file image)

What are the options for Liz Truss after resignation?

Following her resignation, Liz Truss could follow in the footsteps of the two most recent former prime ministers, Boris Johnson and Theresa May, who have remained in Parliament, however, or pursue a career outside of Westminster.

UK • 21 Oct 22

Sterling hit by UK political uncertainty

Sterling falls on political uncertainty as Truss quits

Sterling fell as economic and political uncertainty weighed today after the resignation of British Prime Minister Liz Truss, following the unravelling of her vast planned tax cuts which crashed the pound and sent borrowing costs soaring.

Business • 21 Oct 22

Andrew Bonar Law pictured leaving No 10 Downing Street on budget day, April 1923

The shortest-serving British prime ministers in history

Liz Truss has now officially become the shortest serving prime minister in British history, an accolade spanning 301 years and 56 holders of the varying prime minister roles, the shortest-serving of whom are listed here.

UK • 21 Oct 22

The second leadership contest is due to be completed within a week (file image)

Who might replace Truss as the next UK prime minister?

Liz Truss's resignation after her short-lived tenure as prime minister has left a vacancy for the top job in the UK government. Here are the possible runners to replace her as the next Conservative Party leader.

UK • 20 Oct 22

John McGrane, the Director-General of the British Irish Chamber of Commerce

New British PM urged to restore EU-UK relationship

The British Irish Chamber of Commerce has today called on Liz Truss's successor to find practical solutions to the Northern Ireland Protocol and work to restore the EU-UK relationship.

Business • 20 Oct 22

As it happened: New UK PM next week as Truss resigns

All the developments as they happened as Liz Truss announced her resignation as British Prime Minister.

Liz Truss • 20 Oct 22

Sterling rallies after the dramatic events in London today

Sterling rallies as Prime Minister Liz Truss resigns

Sterling rallied and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.

Business • 20 Oct 22

Liz Truss announces her resignation this afternon

Truss 'cannot deliver mandate', resigns as British PM

British Prime Minister Liz Truss has announced that she has resigned after just 45 days in office.

UK • 20 Oct 22

The pound jumped more than 2% against the dollar and long-dated British government bond yields dropped further after the announcement.

Pound jumps, UK shares up after Hunt's policy U-turn

London shares rose today as new finance minister Jeremy Hunt reversed Prime Minister Liz Truss's economic plan announced three weeks ago that slammed UK markets and dented investor sentiment.

Business • 17 Oct 22

Cabinet ministers are planning to question the prime minister in a meeting on Tuesday

Tory MPs encourage support for Truss to avoid 'chaos'

Four UK cabinet ministers have urged their colleagues to rally behind Liz Truss as the British Prime Minister battles to steady the Conservative Party.

UK • 09 Oct 22

After tumbling to a record low of $1.0327 last week in the aftermath of the government's 'mini-budget', the pound has recovered some ground

Sterling softens after UK PM Truss speech

Britain's pound weakened against the dollar today, ending a six-day rally but avoiding recent lows as British Prime Minister Liz Truss sought to overcome a chaotic first month in office with her speech to the annual Conservative party conference.

Business • 05 Oct 22

Liz Truss has refused to say she would maintain a commitment by her predecessor Boris Johnson that benefits would rise with inflation

Truss to make 'hard choices' for economic growth

British Prime Minister Liz Truss said she would make the "difficult but necessary" choices to get economic growth, in her first leader's speech at the Conservative Party conference.

Politics • 05 Oct 22

Liz Truss had backed down on abolishing the 45% rate for earnings more than £150,000

Truss faces new challenge over UK welfare payments

British Prime Minister Liz Truss has triggered a new row in her party by suggesting she could limit increases in benefit payments by less than rising inflation, as she seeks ways to fund her tax-cutting growth plan.

UK • 04 Oct 22

Addressing the audience in Birmingham, Kwasi Kwarteng promised there would be no more distractions

Kwarteng acknowledges 'tough day' after tax cut U-turn

UK Chancellor Kwasi Kwarteng has urged the Conservative Party to "focus on the task in hand" as he battled to restore his authority after a U-turn over tax cuts for the rich.

Business • 03 Oct 22

Liz Truss faces a difficult task in reassuring Tory members unnerved by market turbulence

Truss admits mini-budget faults, stands by tax cut plan

British Prime Minister Liz Truss has acknowledged mistakes over the recent mini budget but said she was standing by her tax-cutting plan as she refused to rule out public spending cuts.

UK • 02 Oct 22

Liz Truss appears on the BBC's Sunday programme on the first day of the annual Conservative Party Conference in Birmingham

Truss living up to 'human hand grenade' nickname

British Prime Minister Liz Truss has certainly lived up to her 'human hand grenade' nickname used by civil servants who worked with her.

Analysis and Comment • 02 Oct 22

UK Prime Minister Liz Truss and UK Chancellor Kwasi Kwarteng (File image)

Truss sticks to tax cut plan despite market turmoil

British Prime Minister Liz Truss said she would stick to her controversial plan to reignite economic growth as she broke her silence following nearly a week of chaos in financial markets triggered by her huge tax cuts.

UK • 29 Sep 22

Micheál Martin and Liz Truss were at a service for Queen Elizabeth in Belfast

Taoiseach to meet British PM in London on Sunday

The Taoiseach will meet the new British Prime Minister in London this weekend ahead of the state funeral for Queen Elizabeth.

Ireland • 16 Sep 22

The UK economy grew by less than expected in July, new figures show today

UK economy grows by less than expected in July

Britain's economy grew by less than expected in July, with the sharp climb in energy tariffs possibly pushing down demand for electricity and a leap in the cost of materials hitting the construction sector.

Business • 12 Sep 22