The Latest Breaking News from Jeremy Hunt

No one wants Jeremy Hunt to be Chancellor. Labour doesn’t, obviously — the party has its own candidate, albeit with largely the same spending plans and fiscal rules. Rishi Sunak doesn’t — he wants to be his own finance minister. The Tory Right still pines for Truss-onomics, the SNP doesn’t…

Tories and Labour boosted by mega-donors, and fundraising gap between two parties appears to be narrowing

PM says ‘people trust me on these things’ and refuses to be drawn on whether government would forgo entire £46bn raised from measure

Chancellor refuses to disclose number of houses owned but says he will pay higher tax rate on proceeds from sales

Top economist Paul Johnson says both Tories and Labour need to be more transparent about painful choices ahead

Household incomes on course to fall despite national insurance cuts in budget, says Resolution Foundation

Science Secretary Michelle Donelan paid damages to an academic she falsely accused the academic of supporting Hamas

Rolling coverage of the latest economic and financial news, as economist warns OBR productivity forecasts are much too optimistic

Critics say extra funding to key battleground constituencies proves government ‘happy to ignore regional inequality’