A second Labour MP has been identified as part of a private messaging group containing misogynistic and homophobic content, prompting condemnation and calls for accountability within the party.

Financial experts have warned that the Chancellor’s plan to cut tax-free saving allowances risks destabilising mortgage markets and dampening investment confidence.

Britain faces renewed fears of stagnation after the Bank lowered interest rates yet still projected weak growth and mounting prices, prompting criticism of Labour’s fiscal approach.