It comes as Rachel Reeves insisted she would not resign despite a wave of criticism over decisions such as the National Insurance increase, inheritance tax on family farms and winter fuel payment means-testing, as well as poor economic growth with the economy growing by just 0.1% in November.

British finance minister Rachel Reeves spelled out her plans to revive the country's slow-moving economy on Wednesday, adding to recent pledges to reform investment and planning rules with a commitment to back airport expansion at Heathrow.

Chancellor’s optimistic economic growth vision hit in the short term as Tesco and Lloyds announce hundreds of job losses and she admits fixing the economy is ‘not an easy job’