Amid the financial turmoil, Chancellor Kwasi Kwarteng told investment bankers the government was committed to fiscal discipline and was working closely with the Bank of England and budget forecasters.

A Treasury statement said that at the meeting: “The Chancellor underlined the Government’s clear commitment to fiscal discipline and reiterated that he is working closely with the Governor of the Bank of England and the OBR . [Office for Budget Responsibility] before presenting its medium-term budgetary plan on 23 November.

The meeting with leaders from the investment banking industry is part of a series of panel discussions ahead of the Chancellor’s financial services deregulation package next month.

The Chancellor discussed with bankers how last Friday’s growth plan will broaden the supply side of the economy through tax incentives and reforms.

Ahead of the next moment of Big Bang 2.0 deregulation for financial services, Kwarteng reiterated that “a strong UK economy has always depended on a strong financial services sector”.

Attendees included executives from Bloomberg, London Stock Exchange, London Metal Exchange, UBS, Bank of America, Standard Chartered, Morgan Stanley (NYSE:MS), Citi, Deutsche Bank, JP Morgan Chase & Co and Rothesay.