Economy shrinks between April and June

ONS says GDP fell as predicted by 0.1%

Interest rates rise to 1.75%

UK forecast to fall into recession this year.

SME growth drops by 20%

Cost of living crisis makes it harder for SMEs to grow.

Bank of England scraps mortgage affordability tests

Changes came into effect on Monday.

PM candidates set out tax plans

Truss and Sunak clash over tax policy.