Mini-budget debacle likely to create tension between Truss and Kwarteng

The turmoil in financial markets has led to reports of friction between the prime minister and her closest political ally the chancellor

They are neighbours in the same small corner of Greenwich, and now live next door in Downing Street - but the alliance between Liz Truss and Kwasi Kwarteng actually goes back more than a decade to their entry into parliament as new MPs in 2010.

Back then, as part of a new Free Enterprise Group of Tory MPs, the pair were trying to push the coalition government towards a more free market approach to Conservative politics.