A failure to act now will see this already grave situation plummet further into catastrophe.

Temperatures were expected to plummet further overnight, possibly dipping below -12C in London and the South East.

Bitterly cold weather has gripped several states in the US and temperatures are expected to plummet further.

First, GDP would plummet further and longer without emergency spending, so the debt burden is set to rise anyway.

SQM Research analyst Louis Christopher said landlords were competing for fewer tenants and rents could plummet further if more rentals emptied out.