Labour has proposed new plans to ensure ministers are legally bound to consult the Office for Budget Responsibility on major tax and spending changes, to prevent a recurrence of Liz Truss and Kwasi Kwarteng’s ill-fated mini-budget.

Shadow Financial Secretary to the Treasury James Murray said: “Never again should a prime minister and a chancellor be able to play fast and loose with the public finances, causing such damage to the economy and to household budgets.” Report by Buseld. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn