Liz Truss is ready to give politicians the power to veto decisions made by regulators if she becomes Prime Minister, as a war of words between the Conservative Party leadership candidate and the Bank of England is set to escalate.

Claiming that organisations like the Financial Conduct Authority and Bank of England's Prudential Regulation Authority are slowing the pace of post-Brexit reforms, Truss is signalling she will push ahead with plans to give ministers a so-called 'call in' power over regulatory decisions when they feel it is in the public interest.