Ten Things You Need to Know Today: 17 October 2022

The Week’s daily digest of the news agenda, published at 8am

1. Truss awaits market verdict

Liz Truss’s future as PM is hanging in the balance as she waits to see how financial markets will react to her latest U-turn on tax cuts and her appointment of Jeremy Hunt as chancellor. The pound moved higher in early Asia trade this morning, gaining around 0.5% to trade above $1.12. While the BBC also reported that Hunt will bring forward “measures from the Medium-Term Fiscal Plan”, in a statement in the House of Commons today, in an attempt to further calm the markets. But Tory MPs are threatening to oust the PM and even her allies are warning she has just days to turn around her premiership. Tories are holding “secret talks on crowning a new leader”, said The Times.

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