The government is to set out plans to use artificial intelligence (AI) across the UK to boost growth and deliver public services more efficiently. The AI Opportunities Action Plan being announced on Monday will be backed by leading tech firms, which are said to have committed £14bn towards various projects, creating 13,250 jobs, the government said.

The pound has dropped to its lowest value against the dollar since November 2023 while government borrowing costs have continued to rise. The pound fell to $1.21 on Monday morning as the recent sell-off continued.