Kwarteng returns from US early to hold talks with Truss amid speculation of major U-turn and Tory coup

Kwasi Kwarteng is to cut short his visit to the United States, to hold crunch talks with the Prime Minister before an expected mini-budget U-turn.

The embattled finance chief left the International Monetary Fund gathering and headed home overnight, following a fiery briefing with journalists.

This comes as The Times reported that a group of Conservative MPs are considering a bid to oust Truss and Kwarteng, and install former chancellor Rishi Sunak and ex leadership contender Penny Mordaunt.

It is expected the Truss and Kwarteng will have to embarrassingly U-turn on parts of their controversial mini-budget, including an embarrassing climbdown on Corporation tax.

In wake of a bruising 1922 committee meeting, Tory rebels are said to be considering a ‘unity candidate’.

According to Sky News, Kwarteng dismissed claims returning home early was a sign of panic, and insisted it was to iron out his ‘medium-term plan’.

He “a very constructive time, spoke to Janet Yellen [the US Treasury secretary], spoke to Kristalina Georgieva, the head of the IMF… and it put everything in a global context… a global set of challenges…” according to a treasury official quoted by Sky News.

The source also rubbished suggestions it was similar to the “completely different” Greek debt crisis.

Yesterday Kwasi Kwarteng insisted he was “not going anywhere”