Official data shows borrowing - the difference between spending and tax take - reached £16.6bn last month.

The regulator will allow higher bills to fund growing costs and investment, the BBC understands.

Businesses will face additional costs over the measures which include boosts to sick pay and unfair dismissal rights.

Celebrities including Elon Musk and Martin Lewis repeatedly feature in ads for products they have not endorsed.

Pam Kaur is the first woman in the banking giant's 159-year history to become its chief financial officer.