NS&I is to make sweeping cuts to most of its savings products from 24 November.

NS&I has cut rates widely across its fixed and variable savings products and reduced the number of Premium bond prizes with effect from 1 May.

NS&I delivered £10.8bn of net financing to the Government in 2018-19, according to its latest figures.

NS&I has confirmed that it is to extend its operational services contract with Atos by an additional three years after the original contract period from 2014-2021.