Liz Truss Tory conference speech disrupted by Greenpeace protesters; PM claims cutting taxes ‘right morally and economically’ – as it happened

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In his Today interview Gordon Brown also warned that he did not think the financial crisis was over. Rising interest rates could clobber institutions in the shadow banking" sector, he suggested. He told the programme:

You've got problems with inflation, potentially problems with liquidity and solvency amongst companies. And you've got the potential for markets to be dysfunctional.

And I would be worried about the shadow banking - that's the non-bank financial sector in this country.

It's divisive because we're not in this together any more. It's anti-work because 40% of those who would suffer are people on low pay in work. It's anti-family because five million children would be in poverty.

And I think most of all, it's immoral. It's asking the poor to bear the burden for the crisis that we face in this country and for mistakes that other people have made, and it's a scar on the soul of our country, it's a stain on our conscience ...