Asked in Washington this afternoon whether he will be chancellor next week, Kwasi Kwarteng replied: “Absolutely 100%, I’m not going anywhere

When also asked about rumours that there would be more U-turns in his recent mini-budget, the Chancellor, who was at the annual IMF meeting, kept to the government’s script, saying there would be no more changes.

Yet Kwarteng’s denials did little to calm the mood at Westminster. The rumour mill was in overdrive this evening with stories that he was on the brink of resigning. Several Tory MPs – antagonistic to the new PM – were openly arguing that the most elegant way of Liz Truss restoring some sort of credibility to her regime was for the Chancellor to resign of his own accord.