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The government said it was bringing forward "pro-growth" measures to fix a "broken" planning system.

But in a set of instructions to the CMA issued in February, the government said it should prioritise "pro-growth and pro-investment interventions".

Vance told world leaders that AI was "an opportunity that the Trump administration will not squander" and said "pro-growth AI policies" should be prioritised over safety.

White House spokeswoman Karoline Leavitt said the report showed "the Biden economy was far worse than anyone thought, and underscores the necessity of President Trump's pro-growth policies".

The chancellor sped up an already planned "drumbeat" of pro-growth measures, culminating in this week's speech.