The pound has fallen to a record low on international currency markets after Kwasi Kwarteng, announced the UK’s biggest tax cuts in 50 years last Friday.
The new chancellor has failed to spell out how he would make up for the lost revenue - spooking investors around the world.
Sterling dropped to $1.03, the lowest it has been since decimalisation was introduced in 1971, before regaining some ground to stand at about $1.06 on Monday.
