Liz Truss says she is prepared to be unpopular as she sets out policies aimed at delivering growth – as it happened

Prime minister says chancellor will explain how tax cuts will be paid for on Friday. This live blog is now closed

Rosie Cooper has indicated that she intends to stand down as Labour MP for West Lancashire to take up a new job as chair of the Mersey Care NHS foundation trust. In her statement announcing the move Cooper says that events in recent years have undoubtedly taken their toll" - a reference to Cooper being targeted by a neo-Nazi who was jailed for life in 2019 for plotting to kill her.

Cooper's statement implies she will resign and trigger a byelection. At the last election she had a majority of more than 8,000 over the Conservatives, and in a byelection Labour would be expected to hold the seat very easily.