The economy

ONS report shows a drop in food purchases

CPI rate at the highest level for 40 years.

Interest rate hits 13-year-high.

Test and trace decline sees GDP shrink by 0.3%.

Funding includes aid to move away from gas oil and improve carbon capture.

Overall footfall is still at lower levels than previous years.

Sales volumes in three months to April continue to drop.

Concerns grow as economy shrinks by 0.1% in March.

Chancellor insists the Government “stands ready to do more”.

Macroeconomy now businesses’ number one concern.