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#AceNewsRoom With ‘Kindness & Wisdom’ Oct.04, 2022 @acebreakingnews

Ace News Room Cutting Floor 04/10/2022

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#AceDailyNews says here’s today’s Newspaper Headlines: It’s all about Liz Truss ‘ Saying One Thing & Doing Another, ‘and she NOW faces new Tory rebellion’ after tax cut U-turn ‘ & PROMISES like Pie-Crusts – Easily Broken – This time it Benefits NOT RISING Inline with Inflation – Thus a Cut – Next? Kindness & Love XX says 🙏🙏’s for PM Blunder Truss to make a decision and stick to it Amen

The headline in The i Newspaper reads: 'Truss faces new Tory rebellion on benefits cuts'
Many of Tuesday’s papers lead with reaction to the government scrapping plans to abolish the top rate of tax for high earners. The i reports that Prime Minister Liz Truss is facing a new rebellion on plans to cut public spending to help cover the cost of £43bn of the remaining tax cuts announced in the mini-budget. Reflecting wider anger in some ranks of the Conservative Party, the paper reports that a former minister is warning that a combination of cuts and a bad Office for Budget Responsibility economic outlook could end her premiership.
The headline in The Guardian reads: 'Tory plot to halt benefit cuts after U-turn over top tax rate'
Conservative MPs are now plotting to avert a squeeze on benefits payments, the Guardian reports. The paper also reports that the chancellor is now planning to bring forward plans for a new fiscal statement, which is expected to focus on spending and deregulation.
The headline in The Financial Times reads: 'UK premier backs down on tax cuts for the well-off after Tory party revolt'
The Financial Times reports that the government abolished plans to scrap the top rate of tax after it was clear it stood no chance of being voted through Parliament. The PM had insisted on Sunday that the controversial plan to abolish the 45p rate would go ahead, despite a number of MPs in her party opposing the move. But following talks with her senior team, she concluded it stood no chance of being voted through the House of Commons, the paper reports.
The headline in The Daily Telegraph reads: 'PM takes on rebels in battle to rein in benefits'
The Daily Telegraph also carries reports of a new battle Ms Truss faces with Tory MPs over reducing benefits. Downing Street is considering not increasing universal credit payments in line with inflation and instead raising it by a lower figure, such as the increase in average earnings, to encourage those on benefits into work, the papers reports.
The headline in The Daily Mail reads: 'Get a grip'
The Daily Mail urges the PM to “get a grip”, saying her U-turn on the 45p tax rate has left supporters worried about her determination to pursue the rest of her radical programme. The PM is refusing to rule out more U-turns, the paper says.
The headline in The Metro reads: 'What a day'
Chancellor Kwasi Kwarteng admitted to having a “tough day” after the tax cut -U-turn, but insisted he can now get on with the job of turning round the economy, reports the Metro. It comes as new polls show Labour surging ahead of the Tories, with leads of 25 and 28 points respectively.
The headline in The Daily Express reads: 'PM: Stick with us and we will reward your trust'
But Ms. Truss has urged readers of the Daily Express to stick with her government, saying she will “reward their trust.” The PM admitted it had not been an “easy week” but added that the tax cut U-turn had come after “listening to people’s concerns,” the paper says.
The headline in The Daily Star reads: 'The lady is for U-turning'
The Daily Star says the PM was “humiliated” after scrapping plans to axe the top rate of income tax.
The headline in The Daily Mirror reads: 'Damage is done'
The Daily Mirror accuses the chancellor of “laughing off” the government’s tax cut U-turn at the Conservative Party Conference on Monday. The “damage is done”, according to the paper.
The headline in The Times reads: 'Tories will live or die by economy, warns Patel
The Times reports that Priti Patel, who served as home secretary in Boris Johnson’s cabinet, will fire a warning shot over Ms Truss’s “unfunded tax cuts”. In her first significant intervention since returning to the back benches, Ms Patel will accuse the prime minister and chancellor of “spending today with no thought of tomorrow”, adding that the Conservative Party will “live or die” by its economic credibility, the paper says.
The headline in The Sun reads: 'Olivia's killer'
And The Sun carries a photo of the alleged killer of nine-year-old Olivia Pratt-Korbel on its front page. Thomas Cashman appeared in court yesterday charged with fatally shooting Olivia at her home in Liverpool in August, the paper reports.

“Get A Grip!” is the headline for the Daily Mail, one of many papers to lead on the government’s U-turn on scrapping the top rate of tax. The Mail says Liz Truss “caved in” to pressure from senior Tories – raising concern among the prime minister’s supporters that she lacks the determination to see through the rest of her programme. 

The Metro’s headline quotes the chancellor himself: “What A Day!”

The Daily Star mocks up Kwasi Kwarteng and Liz Truss in a clown car and calls the Prime Minister a “poundland Thatcher”, saying the lady is for U-turning. 

The Daily Mirror says a shameless Mr Kwarteng “laughed off” the reversal in his conference speech. 

Liz Truss tells the Daily Express it’s not been an easy week – but she’s listened to people’s concerns. 

Prime Minister Liz Truss at party conference
Prime Minister Liz Truss at party conference

The Financial Times’ leader column says this is a moment of acute embarrassment for the prime minister and her chancellor. While dropping plans to axe the 45p tax rate may ease some political pressure, the paper says, the economics of the mini-budget still do not add up. 

The Times says the government cannot afford any more mistakes – and only a credible plan to reduce debt and a rigorous independent forecast can revive Tory fortunes. 

The Daily Telegraph and the Guardian say Tory rebels are now aiming to prevent a squeeze on benefits. Downing Street is considering increasing Universal Credit by below inflation, according to the Telegraph. Number 10 is said to be “preparing to question” whether it is fair that people on benefits receive inflation-linked rises, while many workers get real-terms pay cuts. One senior minister tells the paper the Cabinet will “blow a raspberry” if Liz Truss brings the idea forward. 

#AceNewsDesk report ………..Published: Oct.04:  2022:

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