The economy contracted in May for the second month in a row, adding to pressure on the chancellor.

There had been reports in recent weeks that the chancellor was going to cut the £20,000 limit.

Package holidays from the UK to popular destinations are more expensive but there are ways to cut costs.

Trump has threatened blanket levies of 15% or 20% on most trade partners, and says he will soon announce new tariffs on the EU.

The US president has reset the tariffs clock again, leaving Asia's export-driven economies in limbo.