In its annual economic survey, the OECD predicted that both interest rates and inflation will be above previous expectations.

The Organisation for Economic Co-operation and Development said the global economy would 'remain resilient' over the coming years but that “risks and uncertainties are high”.

Keir Starmer was challenged over the pledge by Kemi Badenoch as they faced off in the Commons this lunchtime.

The State could face a cost of €20bn when it fails to achieve reductions in carbon emissions in 2030, according to an assessment by the watchdog which advises on the public finances.