Rishi Sunak hints he would vote for Liz Truss tax cut strategy

Former chancellor admits if were defeated he would back emergency budget put forward by rival Truss

The crises of the past two years have killed the idea that markets will fix everything

Government intervention, crucial during Covid, is just as vital now, as energy prices soar and living standards plummet, says Guardian economics editor Larry Elliott

Economists demand urgent action on energy bills to avert ‘catastrophe’

Millions of vulnerable people will be harmed without radical policies to ease cost of living crisis, say experts

Levelling up bill includes no funding to make levelling up happen, say MPs – as it happened

Levelling up committee chair says in current form bill is unclear on how to ensure policy becomes reality

Zahawi faces shortest chancellorship since 1970 – and may be glad of it

The ex-vaccines minister appears to be the equivalent of a caretaker football manager, with Kwarteng waiting in the wings

Next PM could face £23bn autumn spend to cover £900 rise in energy bills

Energy prices have soared above prediction and subsidies will require significant further spending

Minimum wage should be increased to £15 an hour as soon as possible, says TUC

Move opens new policy gap between unions and Labour party, which is reluctant to commit to specific figure under Keir Starmer

Tory leadership hustings – Birmingham: Liz Truss confirms she will allow new grammar schools – as it happened

This live blog is now closed.

Kwasi Kwarteng’s opaque stance on BT ownership is not helping

The company really does not need to take an excursion into high-leverage financial engineering

New PM’s spending plans must face scrutiny, says Treasury committee chair

Mel Stride says OBR must provide fiscal forecasts as Liz Truss urged to ‘come clean’ on promised tax cuts

Sunak effectively rules out serving in a Truss cabinet, suggesting they don’t agree on ‘big things’ – as it happened

Tory leadership candidate says he is focused on race for No 10; energy bosses call for end to battle so new PM can tackle bills crisis

Truss poised to plunge UK economy into ‘inflation spiral’, says Sunak

Truss cannot deliver £50bn tax cuts and support packages without pushing debt to dangerous levels, says Tory leadership rival

UK shoppers are keeping calm and carrying on. Why?

Consumers are in either denial about the economy or think they are managing … for now

Water firms exist to sustain life. They should answer to citizens, not shareholders

An oversight system with teeth would stop utilities from inflicting misery by profiteering

Labour sets out plan to link minimum wage to cost of living

Exclusive: earnings of lowest-paid could rise by £832; lower rates for 18- to 22-year-olds to be scrapped