Prime Minister Liz Truss has made a U-turn on a controversial decision to cut Corporation Tax following her appointment today of Jeremy Hunt as the new Chancellor to replace sacked Kwasi Kwarteng.

MPs want auto-enrolment pensions to be revamped to prevent them providing second rate incomes in retirement.

Chris Philp, Chief Secretary to the Treasury, has refused to confirm that the State Pension will be uprated in April in line with inflation.

The Bank of England made a surprise intervention today when it stepped in to stabilise market liquidity by increasing its government bond purchase to a potentially unlimited amount.