NEW: Liz Truss’s government is on the verge of collapse tonight after chaotic scenes in the commons 1/ This morning the Conservative whips - party managers - had instructed their MPs to consider a vote on fracking this evening a confidence issue - this means the government would collapse if they lost the vote

Breaking: Truss's top team are concerned about Cabinet resignations this afternoon after Suella Braverman was fired.

Kit Malthouse and Kemi Badenoch are on resignation watch, No 10 fear.

Badenoch says she is not quitting.

via @alexwickham and me

https://twitter.com/suellabraverman/status/1582762282626736128

Breaking this morning: Jeremy Hunt has brought forward his fiscal statement to today Hunt is expected to speak mid-morning followed by a statement to Parliament at 3:30 p.m.

Where Liz Truss finds herself on Sunday evening.

*First off, the rebels are nowhere near a serious challenge – per sources. Three publicly-declared outliers do not equal a change in the rules of the 1922 executive committee 1/ *The mood in the party is frenetic and will only get worse as they come back to Westminster after the weekend but there is no consensus yet on a) whether to get rid of Truss or b) whether to crown someone else 2/

We’re now up to three public declarations from Tory MPs who want Liz Truss to quit. Just 353 to go … One day I will write a maths ratio that is publicly tweeted letters to privately-sent emails to Graham Brady

On an extraordinary day in Westminster. What do we know so far?

*Liz Truss to take a press conference
*Truss expected to u-turn on planned corporation tax cut
*Kwasi Kwarteng forced out of office as chancellor
*Jeremy Hunt expected to replace him

bloomberg.com/news/articles/… Press conference expected at 2:30 pm

Liz Truss tells @BBCRadioLeeds “I think we’ve got to remember the situation we were facing this winter” so “that’s why we had to take the action we did” Truss: “That means taking controversial and difficult decisions”

I’ve been talking to Tory MPs about the market crisis following Friday’s budget.

*Kwarteng is being talked about as the fall guy for the chaos, while Liz Truss is - for now - safe Tory MPs are discussing whether Kwarteng should resign - but that doesn’t mean they expect him to do so.

There’s also a lot of criticism for Bank of England Governor Andrew Bailey

NEW: Kwarteng held a call with Tory MPs including some ministers (in a sign of how concerned the party is about sterling)
*His key message was to hold their nerve about tax cuts * Kwarteng said government bonds aka gilts (their price and their cover rate) were his key metrics for judging market reaction

All eyes on sterling first thing Monday - it’s still tanking Could it all go pear-shaped for Truss and Kwarteng this week?

*BoE could be forced to raise rates again
* Tories threatening to vote against tax cuts if the £ dips below the US$
* Bond markets could again punish UK Monday

This is where the United to Remain candidates will stand - they’re standing aside for each other to promote remaining in the EU 2/2