What the papers say – September 27
Liz Truss and Kwasi Kwarteng’s economic plans lead almost all the front pages on Tuesday.
“The pound Kwartanks” reports Metro, with The Guardian saying the Government is struggling to prevent a “full-scale loss of financial market confidence” in its economic strategy.
Tomorrow's Paper Today 📰
THE POUND KWARTANKS
🔴 Sterling crashes to an all-time low against the dollar
🔴 Fears interest rates are set to rocket up to 7%
🔴 No confidence in new PM letters 'are already submitted'#TomorrowsPapersToday pic.twitter.com/DHOVBATGuV— Metro (@MetroUK) September 26, 2022
Guardian front page, Tuesday 27 September 2022: Sterling crisis deepens as Truss’s strategy unravels pic.twitter.com/GhKPgon1w9
— The Guardian (@guardian) September 26, 2022
The Bank of England (BoE) has vowed it will not hesitate to raise interest rates in response to the plunging pound, according to The Times and The Independent.
Times: Bank vows to step in after day of turmoil #TomorrowsPapersToday pic.twitter.com/b7wJvKhwfH
— George Mann 🫧⚒️🫧 (@sgfmann) September 26, 2022
Indepdendent Digital front page: How the far right won Italians over #TomorrowsPapersToday pic.twitter.com/obtSOgOY0U
— George Mann 🫧⚒️🫧 (@sgfmann) September 26, 2022
But the Financial Times says moves by the BoE and the Treasury failed to calm market nerves over the UK’s finances.
Just published: front page of the Financial Times, UK edition, Tuesday 27 September https://t.co/fEOHVUzmlq pic.twitter.com/04u6OHaPee
— Financial Times (@FinancialTimes) September 26, 2022
Banks including Halifax and Virgin Money on Monday night withdrew mortgages in anticipation of the flagged rate rise, say The Daily Telegraph and i.
The front page of tomorrow's Daily Telegraph:
'Spooked lenders ditch new mortgages in pound chaos'#TomorrowsPapersToday
Sign up for the Front Page newsletterhttps://t.co/x8AV4Oomry pic.twitter.com/17V6AUps0l— The Telegraph (@Telegraph) September 26, 2022
Tuesday's front page: New mortgages blocked amid UK market turmoil#TomorrowsPapersToday pic.twitter.com/zuC1YKrtz9
— i newspaper (@theipaper) September 26, 2022
Unnamed senior Tories have complained to the Daily Mail that speculators were “trying to make money out of bad news” and warned against “taking the pound down”.
Tuesday’s @DailyMailUK #MailFrontPages pic.twitter.com/sm2pUuDC9B
— Daily Mail U.K. (@DailyMailUK) September 26, 2022
The situation is “out of control”, according to the Daily Mirror‘s headline, while the Daily Star runs with a humorous film reference over a photograph of the Chancellor as it says “Honey, I shrunk the quids”.
Tuesday's front page: Tories' Economic disaster.#TomorrowsPapersTodayhttps://t.co/RYGCG9eFk3 pic.twitter.com/ARR5QTotLU
— The Mirror (@DailyMirror) September 26, 2022
Tuesday's front page: Honey I Shrunk The Quids! #TomorrowsPaperToday pic.twitter.com/0iXeYGJi2Y
— Daily Star (@dailystar) September 26, 2022
“Don’t panic! We have got a plan to cut debt”, states the Daily Express alongside a photo of a “resolute” Mr Kwarteng.
Tuesday's Express front page - Don't panic! We have got a plan to cut debt#TomorrowsPapersToday https://t.co/9ZAwTOycB0 pic.twitter.com/IC74P0wtso
— Daily Express (@Daily_Express) September 26, 2022
And The Sun carries a story about a “love rat” who dumped his partner for a Ukrainian refugee, but then broke up with her too.
On tomorrow's front page: 'My ex ran off with a Ukrainian refugee we took in – now he’s dumped HER'https://t.co/LGCteZUJzr pic.twitter.com/Y5pvZID5qb
— The Sun (@TheSun) September 26, 2022