Britain's biggest u-turn?
The chancellor announces that most of the government's mini-budget has now been dropped. So is this now Britain's biggest ever political u-turn?
After weeks of economic turmoil and a dramatic day where the prime minister sacked her own chancellor, there's been another moment of political drama.
The new chancellor Jeremy Hunt – who’s only been in his job for a few days – went on TV to say the government was dropping most of its mini-budget. It's a reversal that's been described as both 'brutal and staggering'.
For the latest episode of 5 Minutes On, we’re bringing you a round-up of the chancellor’s statement, as well as reaction from our correspondents as they try and answer the question: Is this the biggest u-turn in British political history?
Image credit: Marc Ward, PA
