Interviewed in the Independent, Oliver Letwin signals that the £2.7bn of Tory tax cuts yet to be announced will be targeted at the poor.

The shadow chancellor says help already unveiled for pensioners would benefit those who have least.

"That is the same pattern you will find in the remainder of what we announce. It is aimed at people who don't have very much money, are not millionaires, and are working hard and have quite a struggle," he says.