The pound will receive a boost after Nigel Farage’s Brexit Party will not be pitted against Conservatives in 317 seats in next month’s election.

The head of  global financial adviser business has warned that Britain is heading towards “an economic abyss” which will spur UK and global investors to move UK assets overseas.

The Consumer Prices Index (CPI) 12-month rate was 3% in October, the same as September after rising from 2.6% in July to 2.9% in August, mainly due to rises in clothing and motor fuel costs.

The financial services sector’s confidence in the UK’s economic prospects has slipped to its lowest level since 2012, according to a survey by the Chartered Institute for Securities & Investment (CISI).