The new Prime Minister remained true to her word and introduced a support plan for domestic consumers. The plan means that no one will pay more than £2,500 a year for their energy for the next two years.

The plan, which will cost between ninety and a hundred billion pound to implement, is expected to add to pressure for higher interest rates.

The new Chancellor of the Exchequer, Kwasi Kwarteng signalled a change to the relationship the Government has with the Bank of England.

Governor Andrew Bailey had expressed his concern recently about the continuing independence of the Central Bank. Although that independence will be supported, there will be greater oversight from the Treasury.

The Chancellor and Governor will meet twice a week to ensure that they still are on the same page and there is more coordination between monetary and fiscal policy.