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Under-fire Lis Truss has vowed she will not resign as she fights to save her premiership in the face of a mounting Tory rebellion.

The Prime Minister’s official spokesman said she will not quit despite new Chancellor Jeremy Hunt tearing up her economic plans.

The spokesman said Ms Truss was working closely with Mr Hunt.

It comes as the Chancellor ditched a string of tax cuts unveiled by his predecessor Kwasi Kwarteng and scaled back support for household energy bills in an emergency statement this morning in a bid to calm the financial markets.

In a tweet, Ms Truss said: “The British people rightly want stability, which is why we are addressing the serious challenges we face in worsening economic conditions.

“We have taken action to chart a new course for growth that supports and delivers for people across the United Kingdom.”

The Prime Minister held a political Cabinet call at 10am to discuss the decision to scrap the mini-budget measures.

Meanwhile, Angela Richardson has become the fourth Tory MP to call publicly for Ms Truss to quit.

Ms Richardson said the problems with the public finances were “100% down to the Prime Minister”.

She told Times Radio: “I just don’t think that it’s tenable that she can stay in her position any longer. And I’m very sad to have to say that.”

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