In a tumultuous day of political drama, markets plunged and the pound tumbled following the Chancellor’s emotional performance at PMQs, where the PM refused to guarantee Rachel Reeves’s position amid Kemi Badenoch’s withering remarks and left Sir Keir Starmer scrambling to contain the escalating turmoil.

The PM faced a fierce rebellion over a contentious welfare measure, forcing a last-minute policy climbdown labelled an “utter capitulation,” sparking questions over the government’s ability to deliver key reforms.

Tim Davie is under mounting pressure to remove those deemed responsible for broadcasting an objectionable chant at a high-profile festival, or else risk demands for his own resignation.

Following coverage of a shocking anti-Israel outburst at a music festival, the PM condemned what was described as “appalling hate speech,” while MPs and Jewish groups demanded a full explanation from the broadcaster.