Kwasi Kwarteng is out as chancellor, sources have confirmed to the BBC's Laura Kuenssberg.
Some Tory MPs have discussed options to remove Mr Truss as prime minister, laying bare divisions within the party, which has been in power for 12 years.and some Tory MPs believe another change of course is inevitable.
Labour's shadow chancellor Rachel Reeves said a "humiliating u-turn is necessary" after the government "plunged our economy into chaos and crisis with Truss' discredited trickle down approach". The mini-budget - announced by Mr Kwarteng on 23 September - included £45bn of tax cuts and an energy package worth an £60bn over six months, partly funded by borrowing.
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