'Faced with market turmoil, spiking borrowing costs, and the drop in the value of the pound in the foreign exchange markets, the PM's initial instinct was to stand firm and say little or nothing.' Read the exclusive report from SamCoatesSky 👇
yesterday, Ms Truss agreed the Treasury would issue a statement promising further details on 23 November on how the government would ensure borrowing would not spiral out of control.
The government will reject claims circulating in Whitehall that the meeting between Ms Truss and Mr Kwarteng was"argumentative" and descended into a"shouting match". Sky News can confirm that Monday's meeting between chancellor and prime minister concentrated on whether to issue a statement and what to say, with the two sides initially taking different positions.The prime minister's team were aware that the Bank of England was going to issue a statement after the close of markets on Monday.
Some in Number 10 are believed to blame the Tory unrest on the failure of ministers and their teams to properly explain their plans.
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