The Chancellor outlines an ambitious plan for global free trade and enhanced partnerships, pledging to protect tariff-hit industries, reinforce ties with the EU, and keep the UK economy secure amid evolving international challenges.

Starmer calls for a sweeping overhaul of the economic strategy, with the PM poised to abandon long-standing doctrines in response to market upheaval sparked by new American tariffs.

Starmer is under pressure to adopt a tougher stance on looming US tariffs, while last-ditch trade talks continue and the PM is encouraged to emulate Canada’s firm approach to safeguard British interests.

A new analysis predicts a downward trend in living standards for all households by the end of the decade, disproportionately affecting those on lower incomes and placing the PM’s commitments under scrutiny while the Chancellor faces mounting demands to tackle these concerns.