Chancellor Kwasi Kwarting has cut short his visit to the US for urgent talks in Downing Street, taking a U-turn on the mini-budget on the table.
Prime Minister Liz Truss is facing calls to change her economic plans to reassure markets and her own party.
Mr Kwarting is expected to return on Friday for talks with the Prime Minister and Conservative MPs.
He was in Washington DC to attend a meeting of world finance ministers.
Speaking about the change in his travel plans, a source close to Mr Kwarteng said he “really wants to have discussions not only with government colleagues, but also MPs” regarding financial plans.
“Fiscal responsibility is absolutely fundamental to what we’re trying to do,” the source said.
No 11 rejected the contest over the 2011 Greek financial crisis, when its finance minister was recalled from an international meeting to meet the country’s prime minister.
One source said it was a debt crisis “on a completely different scale to what is happening in our markets”.
The Bank of England is set to withdraw its post-money budget emergency support later – as many Tory MPs think a U-turn on some tax cut package is inevitable.
“It’s checkmate, we’re screwed,” remarked one Tory MP.
“There’s no question in my mind, they’re going to have to do a crap load of this stuff and a U-turn,” said another.
If the government does announce changes to its plans, it’s unclear when that might happen.
On Thursday, he said he was “not going anywhere” – and when asked if he and Ms Truss would still be in their jobs this time next month, he said: “Absolutely, 100%. “
As it stands, Mr Kwarting is set to outline how he will pay for the government’s £43bn package of tax cuts and the UK’s national debt, alongside an independent economic forecast on October 31. Will get in a statement about the fall.
The government has already done a U-turn on its plan to scrap the top rate of income tax, but this makes up just £2bn of the tax cuts announced by the chancellor last month.
Some Tory MPs believe the government’s tax cut plans should be changed, while others believe support for energy bills should be more targeted.
Other scenarios discussed by Tory MPs include the chancellor resigning or the prime minister being ousted.
However, there is little agreement on what should happen next or who will replace Ms Truss if she is removed.
