Jeremy Hunt says Liz Truss is still in charge, but fails to rule out more U-turns

Chancellor warns of public spending cuts as he tears up PM's economic agenda and promises to reassure markets

Jeremy Hunt has insisted that Liz Truss is in charge despite her premiership looking increasingly in peril, as he warned of further public spending cuts and failed to rule out more U-turns on her disastrous mini-budget.

The new chancellor, now widely seen as the most powerful man in government since he took over from the sacked Kwasi Kwarteng, has buried a series of flagship policies that brought Truss to power.