The UK is facing economic challenges reminiscent of the 1970s, marked by a sharp fall in the pound and rising borrowing costs, as warned by Rachel Reeves amidst ongoing financial market turbulence.

With government borrowing costs exceeding those of the Truss period, Rachel Reeves is considering emergency measures including spending cuts and tax increases to stabilise the economy amid rising debt interest payments.

Several hospitals have declared ‘critical incidents’ as the flu season worsens, with up to 5,000 beds occupied daily and waits of up to 50 hours reported due to the escalation in flu cases.