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| Newspaper headlines: 'Bank profits in line of fire' amid 'Tory unrest' | Newspaper headlines: 'Bank profits in line of fire' amid 'Tory unrest' |
| (about 7 hours later) | |
| The chancellor's search for spending cuts leads most of Wednesday's papers. The Financial Times says Jeremy Hunt is preparing to raid the profits of banks and energy companies as he looks to fill a £40bn fiscal hole through a mix of public spending cuts and tax rises. The paper says Defence Secretary Ben Wallace and his deputy James Heappey indicated they might quit if the PM reversed a pledge to raise defence spending to 3% of gross domestic product by 2030. | The chancellor's search for spending cuts leads most of Wednesday's papers. The Financial Times says Jeremy Hunt is preparing to raid the profits of banks and energy companies as he looks to fill a £40bn fiscal hole through a mix of public spending cuts and tax rises. The paper says Defence Secretary Ben Wallace and his deputy James Heappey indicated they might quit if the PM reversed a pledge to raise defence spending to 3% of gross domestic product by 2030. |
| The prime minister is facing cabinet unrest over her plans for brutal public spending cuts, says the Guardian. At a cabinet meeting on Tuesday, the chancellor said "everything is on the table" as he strives to find billions of savings. The paper also features a picture of the Iranian climber, Elnaz Rekabi, who said in a post on Instagram that she competed at an international event without a hijab because her headscarf had fallen off by mistake. | The prime minister is facing cabinet unrest over her plans for brutal public spending cuts, says the Guardian. At a cabinet meeting on Tuesday, the chancellor said "everything is on the table" as he strives to find billions of savings. The paper also features a picture of the Iranian climber, Elnaz Rekabi, who said in a post on Instagram that she competed at an international event without a hijab because her headscarf had fallen off by mistake. |
| Pensions could be rising in line with earnings instead of inflation next year, says the Daily Telegraph. It reports that Downing Street made clear on Wednesday that the promise, included in the 2019 Tory election manifesto, might be abandoned. The paper also features a picture of Daniel Craig being made a Companion of the Order of St Michael and St George by the Princess Royal. | Pensions could be rising in line with earnings instead of inflation next year, says the Daily Telegraph. It reports that Downing Street made clear on Wednesday that the promise, included in the 2019 Tory election manifesto, might be abandoned. The paper also features a picture of Daniel Craig being made a Companion of the Order of St Michael and St George by the Princess Royal. |
| Liz Truss' move from her commitment to increase state pensions in line with inflation has left her "facing fresh peril", says the i. The paper says some Tory backbenchers are reacting with incredulity and threatening to rebel. | Liz Truss' move from her commitment to increase state pensions in line with inflation has left her "facing fresh peril", says the i. The paper says some Tory backbenchers are reacting with incredulity and threatening to rebel. |
| Pensioners could miss out on up to £430 a year after Ms Truss ditched her pledge to protect the triple lock, says the Daily Mail. The paper reports that one option being considered by the Treasury is for pensions to rise in line with earnings rather than inflation. The suggestion sparked a backlash with Age UK warning of a "betrayal of our older population", said the paper. | Pensioners could miss out on up to £430 a year after Ms Truss ditched her pledge to protect the triple lock, says the Daily Mail. The paper reports that one option being considered by the Treasury is for pensions to rise in line with earnings rather than inflation. The suggestion sparked a backlash with Age UK warning of a "betrayal of our older population", said the paper. |
| The Daily Express says fears are growing that the PM is "betraying" pensioners by scrapping her pledge to protect the triple-lock payouts. The paper also features a picture of King Charles interacting with schoolchildren with the caption: "Guess how old I am?" | |
| Meanwhile, Jeremy Hunt is preparing to postpone Boris Johnson's flagship social care reform, reports the Times. The cap on the sum people pay for care in old age is set to be put back by a year or more, as the chancellor looks to balance the books. The paper says treasury officials suggested scrapping the reform completely, but the chancellor is thought to believe that a one-year delay is politically feasible. | Meanwhile, Jeremy Hunt is preparing to postpone Boris Johnson's flagship social care reform, reports the Times. The cap on the sum people pay for care in old age is set to be put back by a year or more, as the chancellor looks to balance the books. The paper says treasury officials suggested scrapping the reform completely, but the chancellor is thought to believe that a one-year delay is politically feasible. |
| "Truss hit by minus strike" declares the Metro as it reports the PM's popularity has fallen to a record low of -70%. The paper says a YouGov poll shows that Ms Truss is more unpopular than her predecessor, with more than half of Conservative Party members wanting her to go. | "Truss hit by minus strike" declares the Metro as it reports the PM's popularity has fallen to a record low of -70%. The paper says a YouGov poll shows that Ms Truss is more unpopular than her predecessor, with more than half of Conservative Party members wanting her to go. |
| Train workers have announced their latest strike dates across November, including over Guy Fawkes weekend, says the Sun. The paper reports that Conservative Party chair Jake Berry said on Tuesday night that the RMT was "holding Britain to ransom, stopping hardworking people getting to work". | Train workers have announced their latest strike dates across November, including over Guy Fawkes weekend, says the Sun. The paper reports that Conservative Party chair Jake Berry said on Tuesday night that the RMT was "holding Britain to ransom, stopping hardworking people getting to work". |
| A 95-year-old veteran waited 26 hours on a trolley in emergency services before getting a bed, says the Daily Mirror. Stanley Solomons' wait in a corridor in a Nottingham hospital comes as the NHS unveils a winter war room plan, reports the paper. | A 95-year-old veteran waited 26 hours on a trolley in emergency services before getting a bed, says the Daily Mirror. Stanley Solomons' wait in a corridor in a Nottingham hospital comes as the NHS unveils a winter war room plan, reports the paper. |
| "Back to the 70s" declares the Daily Star as it says the boss of National Grid has revealed the lights may go out from 16:00 to 19:00 on cold days. | "Back to the 70s" declares the Daily Star as it says the boss of National Grid has revealed the lights may go out from 16:00 to 19:00 on cold days. |
| "Pensions U-turn leaves Truss facing fresh peril", is the i's lead, after Downing Street suggested the state pension could rise in line with earnings rather than inflation. | |
| According to figures from the Institute for Fiscal Studies in the Daily Mail such a move would cost OAPs £8.35 a week. | |
| Caroline Abrahams from Age UK is quoted in the Daily Express as saying that not tying the increase to inflation would be "viewed by many as a breach of faith". | |
| The message from the paper is clear: "Don't dare go back on pension triple lock". | |
| The Financial Times says bank profits are in the "line of fire", as the chancellor looks to make up a £40bn fiscal hole. | |
| Jeremy Hunt is reportedly "weighing up" whether to tax banks at 33% - made up of the new 25% corporation rate as well as an existing 8% bank surcharge. | |
| The cap on social care costs in England is also being looked at as part of the package of cuts, according to the Times. | |
| The new £86,000 lifetime cap was due to come into force next October. Delaying the reforms for a year would save £1bn. | |
| The future of the prime minister continues to fill column inches. | |
| "Truss hit by minus strike", declares the Metro. It leads on a poll from YouGov which puts her popularity rating at -70 - lower than Boris Johnson and Jeremy Corbyn. | |
| But the Daily Mail says an "immediate putsch" is unlikely, because the chairman of the 1922 committee, Sir Graham Brady, believes the prime minister and the chancellor deserve more time to set out their economic strategy. | |
| The Guardian reports that ministers are going to capitalise on Ms Truss' weakness and "resist deep cuts" to departmental budgets. | |
| The Sun reports that fears are growing in the west that President Putin will detonate a warhead over the Black Sea as a show of force. | |
| The paper says Defence Secretary Ben Wallace has been in Washington DC for what it calls "crisis talks". | |
| According to a source in the Daily Telegraph the session was a "planning meeting" to respond to Russian aggression. Mr Wallace and his US counterpart, Lloyd Austin, also spoke about recent civilian drone strikes in Kyiv. | |
| The Daily Mail says that Albanian migrants have been "fast-tracked" out of Britain, just days after crossing the Channel. | |
| The Home Office has confirmed to the paper that 11 people were sent home on a charter plane last week. | |
| The Mail says the removals could mark a "major breakthrough" in tackling the Channel crisis. | |
| "Tricks and treats" is how the Times describes what's being offered by Debbie McGee as she auctions off props used by her late magician husband Paul Daniels. | |
| The collection - which is expected to fetch £200,000 - includes a letter from Harry Houdini. | |
| According to the Sun, Debbie McGee's favourite trick, the Geometrix illusion, is also up for sale. | |
| The Daily Mirror suggests she will be hoping it will "perform a vanishing act of its own" when it goes under the hammer next month. |