LIZ TRUSS must reverse her government’s budget to stabilise the economy, the TUC warned today after the Bank of England (BoE) staged an emergency intervention to protect credit flow.

The bank said that it has been forced to buy up long-term government bonds — known as gilts — to prevent borrowing costs from spiralling out of control and stave off a “material risk to UK financial stability.”

It came after the International Monetary Fund urged Chancellor Kwasi Kwarteng to re-evaluate the tax measures he announced in the mini-budget plans last week, and said it was “closely monitoring” developments in Britain, an unusual move.