Economists have calculated that to avoid a return to austerity, the government will need to raise an additional £25 billion annually, following Rachel Reeves’ commitment to not increase day-to-day spending.

Immigration has led to a record increase in the UK population, reaching 68.2 million despite deaths outnumbering births, due to the highest level of net migration in decades.

The Times reports that senior Whitehall officials warn Sue Gray’s resignation won’t fix “systemic” problems in Number 10.

Labour’s shadow chancellor, Rachel Reeves, has decided to abandon plans for a pensions tax raid that would have affected higher earners, in order to protect professionals like teachers and nurses from financial penalties.