#AceDailyNews says here are today’s Newspaper Headlines: It all about ‘ Market Turmoil ‘ as BOE says they will ‘ Buy-Up Gilt Bond Debt (called an IOU) that underpin many of the countries ‘ Pension Schemes & Infrastructure ‘ REMEMBER: Crisis in 2008 when the Bankers were bailed out with BOE securing their debts – Now its time to Payback By Buying Up Debt – Kindness & Love XX says 🙏🙏’s and ‘ Time for Balance & Reverse of All ‘ Amen
Several of Wednesday’s papers lead with Labour leader Sir Keir Starmer’s speech to his party’s conference in Liverpool.
The Metro focuses on his plea to voters not to forgive what he describes as the government’s “mishandling of the economy”. The Mirror calls the speech Sir Keir’s “message of hope”.
In an editorial, the Times says the Tories have been damaged by Boris Johnson’s behaviour in office and the economic turmoil of Liz Truss’s early days as prime minister, but that Labour cannot rely solely on the government’s errors to regain the trust of voters. The paper says Sir Keir has made Labour a serious contender once more, but that he should concentrate on maintaining a reputation for capability, decency, and attention to policy detail.
In its editorial, the Guardian says Sir Keir is “starting to stand for something” and, though some would like him to be bolder, he’s got a “better grip on the present than those he seeks to replace”.
The Telegraph leads with the intervention of the IMF over the government’s mini-budget. The paper describes it as a “highly unusual attack” on the economic policy of a G7 country and says it’s prompted an angry reaction from senior Tories. It quotes former Brexit minister Lord Frost saying the prime minister and Chancellor Kwasi Kwarteng should “tune out the criticism” from people he says are still “in the intellectual world of Gordon Brown”.
The i has an exclusive report which says senior government officials warned Ms Truss and Mr Kwarteng about the economic risks and possible shock to the markets of the mini-budget. A No 10 source has also denied to the paper that the pair had a “shouting match” over Ms Truss’s reluctance to issue a Treasury statement to reassure investors as the pound sank on Monday.
The Financial Times also focuses on alleged tensions between the pair, saying Ms Truss was initially reluctant for the Treasury and Bank of England to issue statements to support the pound but eventually agreed with Mr Kwarteng that it was the right course of action.
The Independent says the chancellor is facing demands to act urgently over rising mortgage costs, with one senior Conservative MP describing the mini-budget as the “shortest suicide note in history.”
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