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#AceNewsRoom With ‘Kindness & Wisdom’ Sept, 24, 2022 @acebreakingnews

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#AceDailyNews says here are today’s Newspaper Headlines: It’s all about ‘ Feedback After Mini Budget ‘ that opposition parties say is a ‘ budget for the rich as the ‘pound plunges’ to ALL time low as this ” Risk ” maybe one that will not go the Tories way as they hold onto their jobs and their ratings fall, Kindness & Love says ‘ Love of Money Not God Leads To Fall From Grace 🙏🙏’s Amen

The i weekend front page 24 September 2022 — Chancellor Kwasi Kwarteng’s massive wave of tax cuts – the biggest package in 50 years – dominates Saturday’s papers. Sterling fell below $1.09 for the first time since 1985 “as markets take fright at the huge surge in borrowing” to pay for the cuts, I to weekend reports. The paper describes markets’ reactions as a “punishing early verdict” on the chancellor’s plans. The 45p top rate of income tax has been scrapped and the basic rate will fall to 19p in April.

The FT Weekend front page 24 September 2022 — “The UK is behaving a bit like an emerging market turning itself into a submerging market,” former US Treasury secretary Larry Summers told Bloomberg TV, the FT Weekend adds. Mr Summers said Britain will be remembered as pursuing what he called “the worst macroeconomic policies of any major country in a long time”. Mr Kwarteng has defended his tax plans, telling the paper that the “big gamble” would have been to remain on a path of high taxes and low growth.

The Guardian front page 24 September 2022 — “A budget for the rich” is the Guardian’s damning headline. Mr Kwarteng announced more than $400bn of extra borrowing over the coming years, the paper adds, as it describes the chancellor’s package as the “biggest giveaway since Anthony Barber’s ill-fated 1972 budget”. Some Labour MPs have described the plans as a “class war”. Paul Johnson, director of the Institute for Fiscal Studies, said: “Mr Kwarteng is not just gambling on a new strategy, he is betting the house.”

The Daily Mail front page 24 September 2022 — Not all papers are critical. The Daily Mail celebrates what its headline calls “a true Tory budget”. According to the paper, business chiefs have welcomed the measures, with the Confederation of British Industry saying there was “no choice but to go for growth”. Mr Kwarteng slashed income tax and stamp duty and scrapped a planned rise in National Insurance.

The Daily Express front page 24 September 2022 — The Daily Express carries comments from the chancellor, whom the paper describes as “coming out fighting”. Mr Kwarteng has said he will never apologise for “having the courage to bet big on our incredible country”, the paper reports.

The Daily Telegraph front page 24 September 2022 — The Daily Telegraph describes it as “a gamble on economic growth”, which caused “turmoil in the financial markets”. The paper notes that Mr Kwarteng made the announcement on just his 18th day in the job. Markets now expect the Bank of England to raise interest rates by at least one percentage point at its meeting in November to 3.25%, the paper adds, with rates expected to peak at more than 5% next year.

The Times front page 24 September 2022 — The Times goes one step further and says it’s a “gamble” not just for Mr Kwarteng but also Prime Minister Liz Truss. The paper says the PM is gambling “her premiership on boosting growth at all costs”. Meanwhile, it is among the papers that find space on their front pages for the news that acclaimed author Dame Hilary Mantel has died at the age of 70. She won the Booker Prize twice, for 2009’s Wolf Hall, the first in the Thomas Cromwell series, and its 2012 sequel Bring Up the Bodies.

The Daily Mirror front page 24 September 2022 — Elsewhere, the Daily Mirror reports that footballer Jack Grealish allegedly slept with a woman at the house of Manchester City teammate Benjamin Mendy the night she was allegedly raped by Mendy’s co-accused, a crown court has heard.

The Daily Star front page 24 September 2022 — The Daily Star leads with the same story, adding that Grealish was named in a police interview.

The Sun front page 24 September 2022 — And finally, the Sun reports that the Duchess of Sussex said she should get paid for carrying out royal engagements, citing claims made in what it calls a “bombshell book”. The comments were reportedly made by Meghan during a 2018 tour to Australia.

The biggest tax cuts in half a century dominate the front pages.

The Daily Mail celebrates the chancellor’s economic plans to try to boost growth. “At last! A true Tory budget,” proclaims its headline.

The paper says business chiefs have welcomed the measures, with the Confederation of British Industry saying there was “no choice but to go for growth”.

The Daily Express says Kwasi Kwarteng has come out fighting, after what it calls his “extraordinary package of measures”.

It says he will never apologise for “having the courage to bet big” on Britain.

According to the Express, “the seismic shake-up” delivers on Liz Truss’s vow to let people keep more of their money – while putting Britain “back on top”.

Liz Truss and Kwasi Kwarteng during a visit to Berkeley Modular in Northfleet Kent

But the Daily Telegraph describes the package – announced on Mr Kwarteng’s 18th day as chancellor – as “a gamble on economic growth that caused turmoil in the financial markets”.

The paper says investors have “also ramped up their bets” on the Bank of England responding to what it calls a “fiscal bazooka”, with faster interest rate rises.

The Times calls it “Truss’s great tax gamble”, saying she is chancing her premiership on boosting growth “at all costs”.

According to the paper, leading economists want the Bank of England to implement an emergency interest rate rise as soon as next week, to prop up the pound and reassure the markets.

The Financial Times says concern over the amount of debt needed to finance what it calls the “tax cut gamble” triggered a “frenetic” day of trading, that raised doubts about whether Britain’s new economic approach was sustainable.

The i weekend says the plunge in Sterling was a “punishing early verdict” from the markets.

It also carries a warning that the chancellor faces a Tory backlash.

The i says some Conservative MPs think the party risks damaging its credibility if lower to middle-income earners don’t get “giveaways”, similar to the highest earners.

“A budget for the rich,” is the Guardian’s verdict.

For the Independent news website it is “Robin Hood in reverse” and “Truss’s tax gift to the rich”.

Away from the “mini” budget, the Telegraph’s front page carries the first official photograph of King Charles in his new office at Buckingham Palace.

“Down to business,” the paper says, above the picture of the King reaching across to his red box, as he sits behind an antique French mahogany writing desk.

#AceNewsDesk report ………..Published: Sept.24: 2022:

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#AceNewsRoom With ‘Kindness & Wisdom’ Sept, 24, 2022 @acebreakingnews

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