Chancellor Kwasi Kwarteng told leading bankers he was committed to fiscal discipline in a 28 September meeting, as the pound continued to slump and experts warned over the state of the economy, and that his plans to free up the City post-Brexit remained on track.

As part of a scheduled series of roundtables ahead of deregulatory reforms set to be unveiled next month, Kwarteng said he was working closely with Bank of England governor Andrew Bailey, according to a readout of the meeting from the Treasury.