Truss overrules Kwarteng Treasury pick in bid to calm markets

Veteran official gets permanent secretary role instead of reformer as fiscal plan is brought forward by three weeks

Liz Truss has overruled Kwasi Kwarteng's top appointment at the Treasury and handed the role to a veteran Treasury official, one of a series of moves designed to calm markets and backbenchers.

It was also announced that the chancellor will set out plans to shore up the public finances three weeks earlier than planned and publish long-awaited forecasts by the Office for Budget Responsibility at the same time.