Tesco chairman calls for energy windfall tax; Markets rebound after ‘everything rout’ – as it happened

Rolling coverage of the latest economic and financial news

• Closing post
• Tesco chair backs windfall tax.
• John Allan: Food poverty is rising
• Markets on edge after everything rout'
• Cost of living crisis slows UK consumer spending but holiday bookings take off

John Allan's call for an energy windfall tax comes as British Gas's owner, Centrica, predicted annual profits will hit the top end of expectations.

And in a sign of economic hardship caused by the energy crisis, British Gas is taking on hundreds more staff to deal with the sharp rise in the number of distressed customers who are struggling to cope with soaring bills.

Customers are very concerned about rising energy costs and we want to help them as much as we can."

We are seeing real food poverty for the first time in a generation"