The Chancellor landed at Heathrow Airport after doing the red eye shortly before 11am on Friday after cutting his US trip early to return for crisis talks, this stirs the speculation pot faster in terms of what might happen next.
Tory MPs are planing a coup to oust Liz Truss and the Prime Minister has been told she has days to save her job after only being in Downing Street for just five weeks.
Talks are being held on how oust the Prime Minister and Tory whips have warned Truss she could face a leadership contest if there is no ease on the financial markets with the Chancellor’s economic statement on 31 October.
The Chancellor said on Thursday, “Our position hasn’t changed, I will come up with the medium-term fiscal plan on the 31st of October, as I said earlier in the week, and there will be more detail then.”
Read more related news:
Calls for the Chancellor to be sacked and for the Tories to oust Truss as ‘it’s essential the U-turn comes immediately’
He added that he is focused on “making sure that we get growth back into our economy.”
A Treasury spokesperson said on Friday morning, “After completing a successful series of meetings at the IMF, the Chancellor is returning to London today to continue work at pace on the medium-term fiscal plan.”
A Tory MP told the BBC: “It’s checkmate, we’re screwed.”
A former Cabinet minister told the Daily Mail, “It is all about the statement on October 31 now – she has got days to turn things around, that’s all.
“She is going to have to reverse the mini-Budget and she is probably going to have to sack Kwasi.
“Even then it might not be enough if she can’t regain the confidence of the markets.
“The worry is that she still appears to be in denial about how bad things are.”
The Times is reporting that Tory MPs are preparing to replace the Prime Minister with a joint ticket of Rishi Sunak and Penny Mordaunt.
An MP said, “Rishi’s people, Penny’s people and the sensible Truss supporters who realise she’s a disaster need to sit down together and work out who the unity candidate is.
“It’s either Rishi as Prime Minister with Penny as his deputy and Foreign Secretary, or Penny as Prime Minister with Rishi as Chancellor.”