No 10 refuses to give details of how £4bn pay deal for health workers will be funded – as it happened

Downing Street reveals cost of improved pay offer for nurses and paramedics but will not say where the money will come from

Downing Street says the improve pay offer for health workers in England announced yesterday will cost around 4bn.

At the morning lobby briefing, a No 10 spokesperson said the non-consolidated element for 2022-23" - the one-off payments worth up to 8.2% - would cost an extra 2.7bn.

Analysis showed that in two years' time - by which point Labour could have won a general election - two million people could face paying taxes of up to 55 per cent on their pots as a result of [Rachel] Reeves' policy.