A source close to him dismissed suggestions that this represented a sign of panic and insisted that the chancellor’s focus was the medium-term fiscal plan.
Mr Kwarteng had been due to return to the UK from the annual IMF meeting later on Friday, but hasty changes were made.
Pressed on why there was a need for a last-minute schedule change, a Treasury source insisted that it was for talks on “the medium-term fiscal plan”.
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The source said that the IMF trip had “put everything in a global context… a global set of challenges…”
On his return, the chancellor is likely to find a significant section of his mini-budget re-drawn following days of open revolt among Tory MPs and an expectation that another major U-turn is on the cards.
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It comes amid speculation in Westminster about the fate of Mr Kwarteng, only a few weeks into the job, if his financial plans are scrapped in the coming days.
However, Mr Kwarteng has insisted that his position is safe, telling broadcasters: “I am not going anywhere.”
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Pressure builds on Kwarteng
PM’s key pledge could be next casualty
Meanwhile, mounting pressure has been placed on Prime Minister Liz Truss to reassure the UK’s financial markets and rescue her administration, with her key pledge to scrap the planned increase in corporation tax from 19% to 25% widely seen as a likely casualty.
Downing Street has not denied the policy could be reversed, despite it being one of Ms Truss’s landmark promises.
Several reports have also suggested that senior Conservatives are plotting the possibility of replacing Ms Truss with a joint ticket of Rishi Sunak and Penny Mordaunt.
The Times newspaper said party grandees are among those considering replacing her with a “unity candidate”.
Sky News understands Downing Street held talks on abandoning more elements of the £43bn tax-cutting mini-budget on Thursday, with proposed changes to corporation tax and dividend tax among the policies being considered.
He also insisted there would be “no real cuts to public spending”, but added that “there are difficult choices” to be made.
“You have to make sure that you know the public is getting value for money. And I make no apologies for that, there has to be some sort of fiscal discipline,” he said.
Since his mini-budget announcement at the end of September, the UK’s financial markets have been reeling, with the Bank of England forced to intervene to restore some sense of stability.
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Mini-budget caused ‘some turbulence’
‘Get on and do it – we all know it’s coming’
Not only did his policies spook markets, but they also caused anger among the Conservative Party, with some senior Tories calling for changes to be made.
Newly elected Foreign Affairs Committee Chair Alicia Kearns told LBC’s Tonight With Andrew Marr that she wanted the PM to succeed, but added her voice to calls for a change of course on the mini-budget.
She said: “The markets are not woke, the markets are not left. The fact they are not lefty, anti-government, the fact they have been spooked, is something that should be taken incredibly seriously.”
Former chancellor Ken Clarke told Sky News he has “never known a government to make such a catastrophic start”.
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‘Catastrophic start’ – Ken Clarke slates Truss
Former veterans minister Johnny Mercer also tweeted that the situation “needs a course correction” from Number 10.
“Get on and do it – we all know it’s coming,” he wrote.
The government’s plans revolve around securing an increase in economic growth – with a target of an annual rise of around 2.5% in gross domestic product.
The crucial date will be 31 October, when the forecasts presented by the Office for Budget Responsibility alongside the chancellor’s statement will give an assessment on whether such a plan is realistic.
Canterbury MP Rosie Duffield has resigned from the Labour Party.
The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.
She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.
In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.
“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.
Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.
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Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.
She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.
“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.
“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”
Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.
Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.
“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.
Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.
The King has paid tribute to Scotland as a “uniquely special place” for the Royal Family as he marked the 25th anniversary of the Scottish parliament.
At the ceremony to commemorate a quarter of a century since parliament opened at Holyrood, the King said: “Speaking from a personal perspective, Scotland has always had a uniquely special place in the hearts of my family and myself.
“My beloved grandmother was proudly Scottish, my late mother especially treasured the time spent at Balmoral, and it was there in the most beloved of places, where she chose to spend her final days.”
He said we are all “united by our love of Scotland”, paying tribute to its “natural beauty”, “strength of character”, “diversity of its people”, “passions and frequently deeply held beliefs”.
“From the central belt to the north Highlands, across the islands in Ayrshire, in the Borders, the cities, towns and villages, all the coastal communities, who I wonder, could not fail to be moved by this complex Caledonian kaleidoscope?,” he asked as presiding officer Alison Johnstone and the Queen sat beside him.
After he gave the speech, the King was hugged by a member of the public – who said she did so “because of him being unwell”.
The 75-year-old was diagnosed with cancer in February but has since returned to public duties.
Yvonne Macmillan, 59, from East Renfrewshire, attended the anniversary ceremony with her husband Russell who is registered blind and chosen as a “local hero” for work in their area.
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“I asked him if he was feeling better and if I could give him a hug. I actually said to him: ‘Can I hug you?’,” she said.
“As I hugged him I said, ‘God bless you’, so it was like God giving him a hug.”
While Sir Tony Blair’s Labour government legislated for Scottish devolution in 1997 – parliament officially opened at Holyrood on 1 July 1999.
The King has made six visits to the parliament since 1999 – while his mother Queen Elizabeth II made 10 visits during her lifetime.
Scottish First Minister John Swinney is one of a number of MSPs who have been at Holyrood since the start of devolution.
He said in his own speech in Edinburgh on Saturday that the parliament has “placed itself at the very heart of the nation”, describing it as a “vessel of enlightenment, invention and creativity”.
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The SNP’s Christine Grahame is another MSP who has been there since the start.
“Free tuition, free prescriptions, game-changing policies to tackle child poverty, the ban on smoking, the baby box, ScotRail back in public ownership – none of this would have been possible without the Scottish parliament and the strength of our commitment to self-determination,” she said on Saturday.
The King said the devolved parliament has the ability to “touch and to improve the lives of so many individuals”.
But he added that “there remains much more to be done” for Scotland, the rest of the UK, particularly with regards to climate change.
“Let this moment therefore be the beginning of the next chapter,” he told those assembled.
“The achievement of the past and the commitment shown in the present give us the soundest basis for confidence in the future.”
A moped riding phone thief was caught red-handed after police tracked the device down hours after he snatched it from a woman’s hand.
CCTV footage released by police showed a masked moped rider mount the pavement in Croydon, south London, to swipe a phone from a woman’s hand on 6 March, while another victim had theirs stolen while they waited for a bus an hour later.
Amari Scott, 20, looked surprised when confronted by officers inside a shop, where he was found with two mobile phones.
“We’ve just had a moped rob a mobile phone off the pavement and the phone is pinging in this location,” one of the officers told him in body-worn camera footage before Scott was handcuffed and led away.
Police also recovered a stolen motorbike and Scott, from Sutton, south London, was later jailed for four years.
Two teenagers who committed four robberies in the space of just half an hour were also arrested as part of a crackdown in Croydon.
Aged 16 and 17, the teens were issued with referral orders after pleading guilty to charges of robbery, attempted robbery and attempted grievous bodily harm.
One of the teenagers tried to discard a knife before she was arrested after a foot chase, telling officers: “The knife wasn’t mine”.
The other ran away, leaving a knife and his bag, but was lying in bed at home when he was arrested shortly after.
The Metropolitan Police said officers are intensifying efforts to tackle robbery and theft, encouraging victims to report incidents as they happen to increase the chances of catching the criminals.
Chief Inspector James Weston said: “We understand the impact that robbery has on victims – it is invasive and frightening.
“That’s why our teams are working so hard to deter and catch offenders to reassure our local community.
“Thanks to the hard work of officers, our partners and community grassroots organisations, we are stepping up our efforts and tackling the issues that matter most to the people of Croydon.”