The government has faced calls from Labour leader Sir Keir Starmer to recall parliament.
The UK economy has been in turmoil following the announcement of the Chancellor’s mini-budget on Friday 23 September.
The British Pound has fallen to its lowest rate against the US Dollar and overnight mortgage lenders pulled deals, leaving many would-be homeowners with an uncertain future.
Starmer has said that Parliament needs to be recalled “before any more damage is done”.
But why is the UK Parliament on a break and when will it resume? Here’s everything you need to know.
Why is Parliament on recess?
Parliament is on a break while the two main political parties hold their annual conferences.
During the parliamentary year, the House of Commons and House of Lords will close for a break, with neither meeting to discuss government matters.
These periods which are called parliamentary recess, allow MPs and Members of the House of Lords to carry out other duties.
There are six parliamentary recesses in total called: February, Whitsun, Summer, Conference, November and Christmas.
The dates for these breaks vary each year, with Parliament currently in the Conference recess, which began on Friday 23 September, after the Chancellor Kwasi Kwarteng delivered the mini-budget.
When will Parliament be recalled?
The House of Commons will be recalled on Tuesday 11 October, where they plan to discuss all stages of the Health and Social Care Levy (Repeal) Bill.
The next planned recess will take place from 9th-14th November, with the final recess of the year taking place over the Christmas holidays from 21 December to 9 January 2023.
What have politicians said?
Reported by BBC News, Starmer stated Parliament should be recalled, so MPs can tackle the reaction to the Chancellor’s mini-budget.
Starmer said it needed to happen “before any more damage is done”.
Adding that the “government has clearly lost control of the economy.
“Unlike other situations where it may be a world event, an unexpected event that causes this sort of crisis this is self-inflicted. This was made in Downing Street last Friday.
“And for what? For uncosted tax breaks for those earning hundreds of thousands of pounds.”
The Labour Party are calling for the mini-budget to be scrapped completely, whilst ther politicians in the Conservative Party have also called for Parliament to return and for the mini-budget to be reviewed as a matter of urgency.
Tory MP Simon Hoare, who is the Chair of the Northern Ireland Select Committee called the situation “inept madness”.
Taking to Twitter sharing the full statement from the Bank of England, Hoare said: “In the words of Norman Lamont on Black Wednesday: “today has been a very difficult day”. These are not circumstances beyond the control of Govt/Treasury . They were authored there. This inept madness cannot go on”
So far, parties including Labour, the Liberal Democrats, Green Party and Plaid Cymru have asked for parliament to be recalled.
Speaking to Sky News, Liberal Democrat leader Sir Ed Davey said: “Liz Truss, Kwasi Kwarteng and the rest of this amateur bunch need to get back to their offices, stop their conference and sort this mess out - come to parliament and be held accountable.”
What has the Prime Minister said?
Prime Minister Liz Truss has defended the actions of her government and of the mini-budget.
Speaking to the BBC in local radio interviews Truss explained they had to take “urgent action”, and make “controversial and difficult decisions”.
Adding that she was “prepared to do that... because what is important to me is we get our economy moving, we make sure that people are able to get through this winter and we are prepared to do what it takes to make that happen”.
Truss explained that the government had “done the right thing by taking action urgently”, and that she believed in “sound money”.