It seems that panic and turmoil is something the markets and Tory party currently have in common. Kwasi Kwarteng is flying home a day earlier than planned from the annual meeting of the International Money Fund in Washington – so he will be back in London this afternoon when the Bank of England is due to end its gilt-buying programme, risking further chaos on the markets.
So what’s Kwarteng up to? There are four options:
Could Kwarteng be hoping to swoop in and save the day?
1. Quell rebellion, argue against a U-turn
The Tory party is buzzing with speculation of a plot brewing to oust Liz Truss before Christmas. Katy Balls ran through the options in last week’s magazine, and the Rishi by Christmas option is picked up in the Times today suggesting a joint ‘coronation’ with Sunak and a queen: Penny Mordaunt.
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