Liz truss

Finally, we hear from the Prime Minister. Liz Truss has given an interview to the BBC's political editor Chris Mason. It comes at the end of a day in which she was accused of 'hiding under a desk' and emerged in the Commons only for a silent half an hour of blinking occasionally. She apologised, saying: 'Firstly I want to accept responsibility and say sorry, for the mistakes that have been made.' Truss did not appear comfortable this evening. It would have been weird if she did The Prime Minister has left others to argue that the government is still functioning. What she hasn't done, until now, is offer any argument about why she should remain in office when Jeremy Hunt is effectively in power.

How much trouble is Liz Truss in? Just six weeks into her premiership, the Prime Minister's economic plans are in tatters after she axed her chancellor Kwasi Kwarteng, reversed on her campaign pledge to scrap the scheduled corporation tax hike and brought in Jeremy Hunt as his successor. Now Hunt is calling the shots on the economy and he plans to reverse much of what the Truss government have announced so far, with tax rises and public spending cuts to come. Truss's own supporters are privately asking what the point of her government is now. Unsurprisingly, this has all led to talk among Tory MPs that the end is nigh. One Tory MP, Crispin Blunt, has come out publicly to call for Truss to go.

In politics, where there’s death, there’s life. And as Liz Truss’s premiership crumbles before our eyes, all attention in SW1 is which lucky legislator gets to replace her. Second time Sunak? The people’s Penny? Back again Boris? Or perhaps the man who many wanted to run this summer but ended up dropping out: Ben Wallace, the popular Defence Secretary.  The former Scots Guards officer has been a long-standing fixture at the top of the ConservativeHome Cabinet rankings but opted to back Liz Truss in July rather than run himself. Instead, he extracted a pledge from the Trussette to raise defence spending to 3 per cent of GDP by 2030 - a pledge that appears to be in danger after Jeremy Hunt’s media round this morning.

How does this end? That's the question being asked by Tory MPs as Liz Truss’s government finds itself in turmoil once again. The Prime Minister’s decision to axe her chancellor and U-turn on a plan to ditch the corporation tax has only added to nerves in the Conservative party as to how sustainable the current situation is in. It's clear that different wings of the party are incredibly unhappy with the current leadership. Yet Truss is technically safe from challenge for another year. What's more, it's not clear who exactly the party could agree on. Earlier this month, I wrote for the magazine on the scenarios being war-gamed by ministers, MPs and aides.

Liz Truss faced her first proper grilling at PMQs. Her debut, last month, was a softball affair but today Keir Starmer went in with both fists swinging. He asked her to endorse Jacob Rees-Mogg's view that ‘turmoil in the markets has nothing to do with the Budget’. ‘What we have done,’ said Liz, pleasantly, ‘we have taken decisive action to make sure that people are not facing energy bills of £6,000 for two years.’ Sir Keir, already hopping mad, blasted her for ignoring his specific point. ‘Avoiding the question, ducking responsibility, lost in denial,’ he said viciously. He mentioned a young couple from Wolverhampton, Zac and Rebecca, who last week were offered a mortgage only to learn that it had been withdrawn. Liz was to blame.