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.

In a surprise move today, Chancellor Kwasi Kwarteng axed the 45% Additional Rate of Income tax paid by 660,000 high earners.

The Treasury confirmed this afternoon that it will scrap the 1.25 percentage point rise in National Insurance introduced in April.