Kwasi Kwarteng reportedly spoke of austerity cuts at champagne party on mini-budget day

Jake Berry says event on mini-budget day, where guests allegedly told Kwasi Kwarteng to stick to his policies, was not unusual'

The Conservative party chair has defended the chancellor, Kwasi Kwarteng, and said that people who attended a private champagne reception with him on the day he delivered his mini-budget should be lauded" as Britain's leading entrepreneurs.

Jake Berry said the drinks reception was not unusual and that, along with hedge fund managers, property developers had also been present.