Chancellor Jeremy Hunt will deliver parts of his medium-term fiscal plan later today, the Treasury has said.
In a statement the Treasury said the chancellor was fast-tracking the plans, which will be released in full on 31 October.
It said it followed conversations with Prime Minister Liz Truss over the weekend and a meeting with the governor of the Bank of England and the head of the Debt Management Office on Sunday night.
Ms Truss is facing calls to resign from three Tory MPs following the economic turmoil in the wake of the mini-budget.
Tory MPs Crispin Blunt, Andrew Bridgen and Jamie Wallis have publicly stated they believe she should resign, while Labour leader Sir Keir Starmer has called on Ms Truss to face parliament and accused her of being “in office but not in power”.
The Daily Mail reported that Tory MPs will try to oust Ms Truss later this week, with more than 100 ready to submit letters of no confidence.
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Last week Ms Truss sacked her chancellor Kwasi Kwarteng and replaced him with Jeremy Hunt as she ditched a major chunk of the mini-budget.
Mr Hunt has insisted the prime minister is still in charge during media appearances over the weekend, though he said a tough package of tax rises and spending cuts was necessary in order to steady the UK economy.
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Truss braces for tumultuous week
Sir Keir said Ms Truss’s brief news conference to explain her latest U-turn on Friday “completely failed to answer any of the questions the public has”.
He said: “Mortgages are rising and the cost of living crisis is being felt ever more acutely. The Conservative government is currently the biggest threat to the security and the finances of families across the country.
“That’s why the prime minister must come to parliament on Monday, to explain what she plans to do to turn the situation around.
“If the prime minister won’t take questions from journalists, Liz Truss must at least take them from MPs representing the families whose livelihoods she’s putting at risk.”
MPs believe it is simply not sustainable for Truss to remain as PM
I was told by a cabinet source Liz Truss had no option but to sack Kwasi Kwarteng because it was made clear to her he’d lost the confidence of markets and her only hope of steadying the ship was removing him.
But what follows from that is obvious: as a second cabinet source put it to me over weekend, what the markets do in the coming few days will be critical for Ms Truss too.
The firewall provided by the chancellor is now burnt through and if there’s no improvement, the signal will be that the problem is her.
Politically the view settling amongst MPs is that it’s simply not sustainable for her to remain as prime minister.
All eyes are now on Sir Graham Brady, the only person who knows when a leadership election has been triggered, to see what he does. Party rules say Ms Truss has a year’s grace, but they can change the rules.
But there’s also a view, shared by some Truss rivals and backers alike, that the PM has bought a bit of time.
As one cabinet minister told me: “Despite the hysteria, the reality is we need to calm down, let Liz decide her new priorities and Jeremy deliver his budget. Nothing will be gained in the next 14 days by more fratricide.”
But the point is, as Conservative Home’s Paul Goodman put it, it’s over for Ms Truss whether she’s pushed out or not.
Her economic project is finished and her authority is gone. And that makes it very hard to see how she can lead the party into a general election.
I’ll be watching the markets and Sir Graham very closely on Monday.
In a sign of divide within the Tory Party, former culture secretary Nadine Dorries criticised her colleagues.
“I cannot imagine there’s one G7 country which thinks we’re worthy of a place at the table,” she tweeted.
“The removal of one electorally successful PM, the disgraceful plotting to remove another by those who didn’t get their way first time round is destabilising our economy and our reputation.”
Nigel Farage has told Sky News he “can’t be pushed or bullied” by anybody after Elon Musk said the Reform MP “doesn’t have what it takes” to lead his party.
In an interview with Sky’s political correspondent Ali Fortescue, Mr Farage said he has spoken with the billionaire owner of X since his criticism on 5 January, when Mr Musk said: “The Reform Party needs a new leader. Farage doesn’t have what it takes.”
Asked if the pair are still friends, Mr Farage said: “Of course we’re friends. He just says what he thinks at any moment in time.”
He added he has “been in touch” with Mr Musk, though wouldn’t divulge what they had discussed.
“Look, he said lots of supportive things. He said one thing that wasn’t supportive. I mean, that’s just the way it is,” Mr Farage said.
Asked if he was afraid to criticise the tech mogul, the Clacton MP said the situation was “the opposite”, and he openly disagreed with Mr Musk on his views on far-right activist Tommy Robinson.
Mr Farage said: “What he [Musk] was saying online was that effectively Tommy Robinson was a political prisoner and I wouldn’t go along with that.
“If I had gone along with that, he wouldn’t have put out a tweet that was against me.
“By the way, you know, I can’t be pushed or bullied or made to change by anybody.
“I stick to what I believe.”
Mr Musk has endorsed Robinsonand claimed he was “telling the truth” about grooming gangs, writing on X: “Free Tommy Robinson”.
But Mr Farage said that Robinson, who is serving an 18-month jail term for contempt of court, isn’t welcome in Reform UK and neither are his supporters.
He said: “If people within Reform think Tommy Robinson should be a member of Reform and play a central role in Reform, that disagreement is absolutely fundamental.
“I’ve never wanted to work with people who were active in the BNP. I’ve made that clear right throughout the last decade of my on/off political career. So that’s what the point of difference is.”
Despite their disagreement, Mr Farage said he is confident Mr Musk will continue to support Reform and “may well” still give money to it.
Mr Farage was speaking from Reform’s South East of England Conference, one of a series of regional events aimed at building up the party’s support base.
This would apply when councils seek permission to reorganise, so that smaller district authorities merge with other nearby ones to give them more sway over their area.
Mr Farage, who is hoping to make gains in the spring contests, claimed the plans are not about devolution but about “elections being cancelled”.
“I thought only dictators cancelled elections. This is unbelievable and devolution or a change to local government structures is being used as an excuse,” he said.
He claimed Tory-controlled councils are “grabbing it like it’s a life belt”, because they fear losing seats to Reform.
“It’s an absolute denial of democracy,” he added.
Mr Farage was also asked why many Reform members don’t like to speak on camera about why they support his party.
He said he did not accept there was a toxicity associated with Reform and claimed there was “institutional bias against anybody that isn’t left of centre”.
Specialist search teams, police dogs and divers have been dispatched to find two sisters who vanished in Aberdeen three days ago.
Eliza and Henrietta Huszti, both 32, were last seen on CCTV in the city’s Market Street at Victoria Bridge at about 2.12am on Tuesday.
The siblings were captured crossing the bridge and turning right onto a footpath next to the River Dee in the direction of Aberdeen Boat Club.
Police Scotland has launched a major search and said it is carrying out “extensive inquires” in an effort to find the women.
Chief Inspector Darren Bruce said: “Local officers, led by specialist search advisors, are being assisted by resources including police dogs and our marine unit.”
Aberdeenshire Drone Services told Sky News it has offered to help in the search and is waiting to hear back from Police Scotland.
The sisters, from Aberdeen city centre, are described as slim with long brown hair.
Police said the Torry side of Victoria Bridge where the sisters were last seen contains many commercial and industrial units, with searches taking place in the vicinity.
The force urged businesses in and around the South Esplanade and Menzies Road area to review CCTV footage recorded in the early hours of Tuesday in case it captured anything of significance.
Drivers with relevant dashcam footage are also urged to come forward.
CI Bruce added: “We are continuing to speak to people who know Eliza and Henrietta and we urge anyone who has seen them or who has any information regarding their whereabouts to please contact 101.”
Britain’s gas storage levels are “concerningly low” with less than a week of demand in store, the operator of the country’s largest gas storage site said on Friday.
Plunging temperatures and high demand for gas-fired power stations are the main factors behind the low levels, Centrica said.
The UK is heavily reliant on gas for its home heating and also uses a significant amount for electricity generation.
As of the 9th of January 2025, UK storage sites are 26% lower than last year’s inventory at the same time, leaving them around half full,” Centrica said.
“This means the UK has less than a week of gas demand in store.”
The firm’s Rough gas storage site, a depleted field off England’s east coast, makes up around half of the country’s gas storage capacity.