Deputy leader Lucy Powell says Labour must ‘stick to manifesto’ over EU customs union, in implicit rebuke to Streeting – as it happened

No 10 has largely played down health secretary's comments

The Treasury has published this explainer setting out in detail how the inheritance tax rules will apply to farms after today's announcement.

When the government first announced its plan to extend inheritance tax to farms, it said that this would raise around 520m a year from 2028-29.

The changes we are implementing reflects the concerns that have been raised while preserving the majority of the revenue from reform to help cut debt and borrowing and fund public services. The costings for today's announcement will be incorporated into the next OBR forecast.