Asda says some shoppers setting £30 limit at tills

“I would say the most important priority in the short term is to kill inflation, because once inflation gets embedded, it’s very, very hard to kill. If it means we have to slow the economy down for a while, and it looks as if we are heading for a recession, then so be it.”

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Pound rises ahead of expected Johnson resignation

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Will Nadhim Zahawi change tack on the economy?

He acknowledged both he and the prime minister wanted a "low-tax, high-growth economy, and world class public services", but Mr Sunak said this could only be "responsibly delivered if we are prepared to work hard, make sacrifices and take difficult decisions".

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