Bank of England officials were excluded from mini-budget discussions

Deputy governor Sir Jon Cunliffe says Bank did not have usual briefing the night before mini-budget

Bank of England officials were excluded from discussions ahead of the mini-budget last month that triggered a full-scale liquidation event" for pension funds, MPs heard on Wednesday.

Deputy governor Sir Jon Cunliffe, who said the central bank was forced into battle to save the 1.5tn pensions industry from insolvency, also warned ministers against grabbing fresh powers to meddle in the decisions of regulators or risk a further deterioration in the UK's international reputation.