Furious Tory MPs hit out at chancellor after they are invited to a meeting to discuss his budget

‘Chancellors have resigned for less’, says one MP amid turmoil in markets

Conservative MPs have been invited to a meeting with chancellor Kwasi Kwarteng on Tuesday after the pound plunged to an all-time low against the US dollar amid renewed fears over the government’s plans.

Furious Tory MPs hit out at the chancellor, who has refused to respond to the decline in Sterling, accusing him of incompetence.

One angry MP said: “Chancellors have resigned and parliaments have been recalled for less, but we MPs are being invited to meetings.”