The prime minister has sacked her first chancellor and done another U-turn on the mini-budget.

This time, the promise to keep corporation tax at 19% rather than increase it to 25% has gone.

Her friend and political ally Kwasi Kwarteng has been replaced by the former health secretary Jeremy Hunt.

Liz Truss said: “It is clear that parts of our mini-budget went further and faster than markets were expecting.”

On the Sky News Daily, Niall Paterson talks to our political correspondent Tamara Cohen about the latest developments. Plus, you can hear Liz Truss’ news conference in full.

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