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LONDON, Oct 26 (Reuters) - Britain's new Prime Minister Rishi Sunak earned cheers from his lawmakers and plaudits from political commentators on Wednesday as he locked horns with the opposition Labour Party in parliament for the first time since becoming leader. "My record is, when times are difficult in this country I will always protect the most vulnerable," Sunak said to vociferous support from the Conservative benches in the House of Commons. Britain's Prime Minister Rishi Sunak walks outside Number 10 Downing Street, in London, Britain, October 26, 2022. Sunak's Conservatives saw their standing in opinion polls sink to multi-year lows as Truss stumbled through her six weeks as prime minister. "The only time he ran in a competitive election, he got trounced by the former prime minister who herself got beaten by a lettuce," Starmer said.

☆ UK PM Truss met with chair of committee in charge of leadership contests - Guardian
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Chairman of the 1922 Committee Graham Brady congratulates Liz Truss, as she is announced as Britain's next Prime Minister at The Queen Elizabeth II Centre in London, Britain September 5, 2022. REUTERS/Hannah McKayLONDON, Oct 17 (Reuters) - British Prime Minister Liz Truss met earlier on Monday with lawmaker Graham Brady, who heads up the committee in charge of running Conservative Party leadership contests, The Guardian reported, citing sources from Truss's office. "Truss was with Sir Graham Brady during Labour's urgent question in HoC (House of Commons) - as per No 10 sources," Guardian Political Editor Pippa Crerar said on Twitter. "They tell me it was a pre-planned meeting - rather than crisis talks." Register now for FREE unlimited access to Reuters.com RegisterReporting by Sachin Ravikumar, writing by William James; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

LONDON — British Prime Minister Liz Truss on Monday ditched her signature plan to cut taxes for the country's top earners after it triggered market turmoil and a huge domestic outcry. The pound rose after the announcement to around $1.12 — about the value it held before the Sept. 23 budget announcements. The dramatic reversal comes just hours after Truss defiantly defended the tax cut and her broader radical economic agenda, saying it was necessary to solve the country’s long-term economic woes. Faced with a growing political rebellion after days of economic chaos, the government said early Monday it was abandoning the plan. The plan to cut taxes for the wealthy was part of a broader "mini-budget" announced soon after the new administration took office.

"We are really a government in waiting and we have a chance to set out our ideas for the country. Labour is positioning itself as the party of fiscal responsibility and say it stands for "sound money". Almost half of voters say that Labour has not produced a clear set of policy ideas, according to polling from Savanta ComRes. In the most recent poll, Labour now has a six-point lead. But Curtis said the Conservatives still lead on the crucial question about who is best placed to make voters and the country wealthier.

☆ UK Labour's Reeves: 'incredibly worried' by fall in the pound
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterLONDON, Sept 26 (Reuters) - The financial policy spokeswoman for Britain's opposition Labour Party said she was incredibly worried about the fall in the pound overnight, saying it put pressure on the Bank of England to raise interest rates. Sterling tumbled nearly 5% to an all-time low against the U.S. dollar on Monday, before partly recovering, as the fall-out from the new government's fiscal plan on Friday continued. "I started my career as an economist at the Bank of England and like everyone else I'm incredibly worried about what we've seen, both on Friday with market reactions to the chancellor's so-called mini-budget, and also the reactions overnight," Rachel Reeves told Times Radio. "It also puts more pressure on the Bank of England to increase interest rates," she added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kate Holton and Kylie MacLellan; editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

Shadow Chancellor of the Exchequer Rachel Reeves is interviewed outside the BBC in London, Britain, October 24, 2021. REUTERS/Peter Nicholls/File PhotoLIVERPOOL, England, Sept 25 (Reuters) - Britain's Labour Party will unveil on Monday its plans to set up a national wealth fund to invest in green projects which will benefit the public, part of the opposition party's answer to the Conservative government's tax-cutting approach. The so-called mini-budget has opened up a divide between Prime Minister Liz Truss's Conservatives and the Labour Party of Keir Starmer, who wants to use the years before an expected election in 2024 to prove his team is ready for power. "That is a real plan for growth," she will say, taking aim at the "Growth Plan" presented by finance minister Kwasi Kwarteng on Friday, when Labour accused him of prioritising the wealthy over working people struggling with rising prices by turning to the discredited theory of "trickle-down economics". Ed Miliband, Labour's climate policy chief, said Labour's plans would return jobs to Britain.

REUTERS/Peter NichollsLONDON, Sept 23 (Reuters) - Britain's main opposition Labour Party criticised the Conservative government's economic plans on Friday, describing the new prime minister and finance minister as "two desperate gamblers in a casino" who had run out of ideas. "The prime minister and chancellor (finance minister) are like two desperate gamblers in a casino chasing a losing run," she told parliament. Taking aim at the lack of independent scrutiny of the government's plans, Reeves described Kwarteng's statement as "a budget without figures, a menu without prices". While Labour and other opposition lawmakers were biting in their criticism of the government's fiscal statement, supporters of Britain's new government hailed its radicalism. Some said previous Conservative governments, in power for 12 years with five of them in coalition with the Liberal Democrats, should have adopted the policies a long time ago.

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