Newspaper headlines: A 'budget for the rich' as the 'pound plunges'
- Published
The biggest tax cuts in half a century dominate the front pages.
The Daily Mail celebrates, external the chancellor's economic plans to try to boost growth. "At last! A true Tory budget," proclaims its headline.
The paper says business chiefs have welcomed the measures, with the Confederation of British Industry saying there was "no choice but to go for growth".
The Daily Express says, external Kwasi Kwarteng has come out fighting, after what it calls his "extraordinary package of measures".
It says he will never apologise for "having the courage to bet big" on Britain.
According to the Express, "the seismic shake-up" delivers on Liz Truss's vow to let people keep more of their money - while putting Britain "back on top".
But the Daily Telegraph describes, external the package - announced on Mr Kwarteng's 18th day as chancellor - as "a gamble on economic growth that caused turmoil in the financial markets".
The paper says investors have "also ramped up their bets" on the Bank of England responding to what it calls a "fiscal bazooka", with faster interest rate rises.
The Times calls it, external "Truss's great tax gamble", saying she is chancing her premiership on boosting growth "at all costs".
According to the paper, leading economists want the Bank of England to implement an emergency interest rate rise as soon as next week, to prop up the pound and reassure the markets.
The Financial Times says, external concern over the amount of debt needed to finance what it calls the "tax cut gamble" triggered a "frenetic" day of trading, that raised doubts about whether Britain's new economic approach was sustainable.
The i weekend says, external the plunge in Sterling was a "punishing early verdict" from the markets.
It also carries a warning that the chancellor faces a Tory backlash.
The i says some Conservative MPs think the party risks damaging its credibility if lower to middle-income earners don't get "giveaways", similar to the highest earners.
"A budget for the rich," is the Guardian's verdict, external.
For the Independent, external news website it is "Robin Hood in reverse" and "Truss's tax gift to the rich".
Away from the "mini" budget, the Telegraph's front page carries, external the first official photograph of King Charles in his new office at Buckingham Palace.
"Down to business," the paper says, above the picture of the King reaching across to his red box, as he sits behind an antique French mahogany writing desk.
There is widespread coverage of the death of the acclaimed author Dame Hilary Mantel.
The Independent calls her, external "one of the greatest writers of our time".
The Sun says, external she was "the genius" who brought Tudor history back to life with her Wolf Hall trilogy.
The FT says, external she was a "brilliant" writer with a "vast imagination".
In what turned out to be her final interview, external - with the FT two weeks ago - it says Dame Hilary was asked if she believed in the afterlife.
"Yes," she said, adding: "I can't imagine how it might work. However, the universe is not limited by what I can imagine."
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