LIVE: Liz Truss chairs Cabinet meeting as she clings to power following epic mini budget U-turn - latest updates

Prime Minister Liz Truss will chair a Cabinet meeting this morning as she attempts to quell any rebellion from her Tory colleagues.

It comes after she sacked former Chancellor Kwasi Kwarteng in favour of Jeremy Hunt while taking a series of U-turns on her hardline economic policies. Questions over the strength of her leadership have already begun to rise to the surface after spending just over a month in power.

Her Cabinet will be rallied together today in a meeting after she held an informal reception with senior minister which includes some drinks and snacks in Downing Street on Monday evening. However, despite the growing concerns from some of her Tory colleagues and the opposition, Ms Truss has hinted that she intends to lead her party into the next general election.

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During a BBC interview on Monday night, the Prime Minister apologised for her "mistakes" and said she has "adjusted what we're doing" after her controversial mini-budget panicked the markets.

"I do think it is the mark of an honest politician who does say, yes, I've made a mistake," she added. In helping to clarify her actions, she continued: "I wanted to act… to help people with their energy bills, to deal with the issue of high taxes, but we went too far and too fast. I’ve acknowledged that."

It comes after increased speculation around whether Ms Truss could become the second Tory leader to be ousted this year, despite her claims to the BBC of "sticking around". Under current party rules, Ms Truss is protected from any challenges to her leadership for 12 months - but this could change if enough of her colleagues demand it.

Sir Charles Walker, MP