Hours after the Bank of England warned of a “material risk” to the country’s financial stability, Britain’s chancellor sought to defend his explosive mini-budget against scathing MPs in the Commons.

Kwasi Kwarteng insisted the “fully forecast” economic plan for funding his radical tax cuts  – brought forward to 31 October – will be “relentlessly upbeat” but with an “iron commitment to fiscal responsibility”. He also echoed Truss in declaring war on the “anti-growth coalition”. 

But MPs were not persuaded.