UK’s public finances on ‘unsustainable’ long-term path; house prices surge despite squeeze – as it happened

Soaring energy prices and inflation threaten to tip the UK into recession, fiscal watchdog warns. Photograph: Bloomberg/Getty Images

4.49pm BST

Closing post

Time to wrap up..... here’s today’s main stories:

And our rolling coverage of Boris Johnson’s resignation is here:

Goodnight. GW

4.45pm BST

The UK-focused FTSE 250 share index has gained 1.5% today, closing 281 points higher at 18875 points, a one-week high.

That outpaces the blue-chip FTSE 100, dominated by international firms,which has closed 81 points higher at 7189, up 1.15%.