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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.

Politics latest: More U-turns expected on mini-budget

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.

More on Jeremy Hunt

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.”

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Two Chinese citizens captured during fighting in eastern Ukraine, Zelenskyy says

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Two Chinese citizens captured during fighting in eastern Ukraine, Zelenskyy says

Volodymyr Zelenskyy says two Chinese citizens have been captured while fighting in eastern Ukraine.

He said his forces had fought six Chinese soldiers and two of them had been taken prisoner. He added he had ordered officials to obtain an explanation from Beijing.

“We have information that there are many more Chinese citizens in the occupier’s units than just two. We are now finding out all the facts,” he added.

As it happened: Zelenskyy demands reaction from US

China is an ally of Russia and has been accused of helping its war in Ukraine, though Beijing has repeatedly denied allegations that it has supplied Kremlin forces with weapons.

“Russia’s involvement of China in this war in Europe, directly or indirectly, is a clear signal that Putin is going to do anything but end the war,” Mr Zelenskyy said. “He is looking for ways to continue the war.”

Mr Zelenskyy described China as having joined Russia’s war against Ukraine and said he expected the US to react.

There was no immediate comment from China.

How many Chinese are actually fighting for Russia?


John Sparks - Africa correspondent

John Sparks

International correspondent

@sparkomat

Were they volunteers – or mercenaries – who had signed up to fight in the Russian army on their own?

Alternatively, does the Chinese government sanction their involvement – or even encourage it? That would make the situation far more serious.

The capture of these Chinese nationals in Donetsk begs another question – how many Chinese are actually fighting for Russia? In his written post on social media platform Telegram, Volodymyr Zelenskyy said “there are many more Chinese citizens” other than these two.

Still, the Ukrainian president works hard to suggest the Chinese, officially at least, are blameless.

“Russia’s involvement of China in this war… is a clear signal that [Russian President Vladimir] Putin is going to do anything but end the war,” he writes on Telegram.

This is a generous interpretation of China’s approach to the conflict, which is quite openly contradictory.

Read more from John Sparks

Fighters of various nationalities have joined Russia’s army during the war, often in return for promises of large sums of money. This does not represent official interventions by their home countries.

North Korea has also sent thousands of its troops to support Russia.

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‘This could be very, very embarrassing for China’

After Mr Zelenskyy’s announcement, the Ukrainian foreign minister said he had summoned China’s diplomat for an explanation, saying on social media the presence of Chinese citizens in Russia puts Beijing’s stance for peace into question.

Read more from Sky News:
Zelenskyy makes dig at US over response to Russian attack
Serious questions raised by captured Chinese national in Ukraine

Ukraine in Belgorod, almost out of Kursk

Last night, Mr Zelenskyy confirmed for the first time that Ukrainian forces are active in Russia’s Belgorod region.

He described the actions as “just”, adding: “war must return to where it came from”.

Meanwhile, regional governor Alexander Khinshtein said Russian forces are on the verge of reclaiming Kursk, months after Ukraine’s surprise incursion.

He claimed Russian forces had seized the settlement of Guyevo. Russian state news agency TASS said only two more settlements are left to recapture – Gornal and Oleshnya – to retake the entire region.

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What we learn from video of captured Chinese national in Ukraine – and the serious questions it raises

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What we learn from video of captured Chinese national in Ukraine - and the serious questions it raises

In a carefully written post on social media platform Telegram, Volodymyr Zelenskyy accused the Russian army of deploying Chinese citizens on the battlefield in eastern Ukraine.

What about the proof? Well, the Ukrainian president says his security services captured two people from China in the Donetsk region – along with identity documents, personal data and their bank cards.

Follow latest: Zelenskyy demands reaction from US

A video of a man in military fatigues who had been captured by Ukraine was pinned to the bottom of the statement.

We get snippets of a conversation where the alleged combatant seems to be talking about the events that led to his capture.

“When we arrived at the place… and then my commander.” The man gestures at the floor and ceiling, making shooting noises. “I was also injured.”

Volodymyr Zelenskyy uploaded  a video appearing to show a Chinese prisoner in Ukrainian custody.
Image:
Volodymyr Zelenskyy uploaded a video appearing to show a Chinese citizen in military uniform in Ukrainian custody

These details will make it difficult for the Chinese government to deny the incident out of hand, although they are highly unlikely to supply additional information.

Important details like, who are they? What function(s) do they fulfil in Ukraine’s occupied territories?

Were they volunteers – or mercenaries – who had signed up to fight in the Russian army on their own?

Alternatively, does the Chinese government sanction their involvement – or even encourage it?

That would make the situation far more serious.

Read more:
Zelenskyy makes dig at US over response to Russian attack
What China could do next as Trump’s tariff war ramps up

The capture of these Chinese nationals in Donetsk begs another question – how many Chinese are actually fighting for Russia? In his post, Mr Zelenskyy said “there are many more Chinese citizens” other than these two.

Still, the Ukrainian president works hard to suggest the Chinese, officially at least, are blameless.

“Russia’s involvement of China in this war… is a clear signal that [Russian President Vladimir] Putin is going to do anything but end the war,” he writes on Telegram.

This is a generous interpretation of China’s approach to the conflict, which is quite openly contradictory.

On one hand, Chinese President Xi Jinping describes China as a neutral party to the conflict, while simultaneously offering Mr Putin long-term political and economic support.

In fact, he described their partnership as a “no limits” one in a phone call with Mr Putin on the third anniversary of Russia’s full-scale invasion of Ukraine.

Mr Zelenskyy then, is making a point with this post – but he does not want to make the situation any worse.

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What China could do next as Trump’s tariff war ramps up

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What China could do next as Trump's tariff war ramps up

The severity cannot be overstated, if an additional 50% tariffs are levied on all Chinese goods it will decimate trade between the world’s two biggest economies.

Remember, 50% would sit on top of what is already on the table: 34% announced last week, 20% announced at the start of US President Donald Trump’s term, and some additional tariffs left over from his first term in office.

In total, it means all Chinese goods would face tariffs of over 100%, some as high as 120%.

It’s a price that makes any trade almost impossible.

China is really the only nation in the world at the moment that is choosing to take a stand.

While others are publicly making concessions and sending delegations to negotiate, China has clearly calculated that not being seen to be bullied is worth the cost that retaliation will bring.

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Tariffs: Xi hits back at Trump

The real question, though, is if the US does indeed impose this extra 50% tomorrow, what could or would China do next?

It has said it will “fight to the end”, but what does that mean?

In reality, there are few good options.

There are some obvious measures that China will almost certainly enact.

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Further export controls on rare earth minerals (crucial for the development of high-tech products) are one example. China controls a huge proportion of the world’s supply, but the US would likely find workarounds in time.

Hiking tariffs on high-impact US products such as agricultural goods is another option, but there is only so far this could go.

The potentially more impactful options have significant drawbacks for Beijing.

It could, for instance, target high-profile American companies such as Apple and Tesla, but this isn’t ideal at a time when China is trying to attract more foreign investment, and some devaluation of the currency is possible, but it would also come with adverse effects.

Other options are more political and come with the risk of escalation beyond the economic arena.

In an opinion piece this morning, the editor of Xinhua, China’s state news agency, speculated that China could cease all cooperation with the US on the war against fentanyl.

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This has been a major political issue for Mr Trump, and it’s hard to see it would not constitute some sort of red line for him.

Other options touted include banning the import of American films, or perhaps calling for the Chinese public to boycott all American products.

Anything like this comes with a sense that the world’s two most powerful superpowers might be teetering on the edge of not just a total economic decoupling, but cultural separation too.

There is understandably serious nervousness about how that could spiral and the precedent it sets.

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