Speaking in Barnsley, the Labour leader: "There is still one person clinging on - the Prime Minister."

"No doubt we will hear plenty of laughable excuses in the coming days. After 12 years of stagnation, that's all her party has left but even they know she can't fix the mess she has created.

"And deep down, her MPs know something else. They no longer have a mandate from the British people."

Leader of the Labour Party, Sir Keir Starmer, speaking at the Labour Regional Conference in Barnsley (Pic: Danny Lawson/PA Wire)

Sir Keir said there was "no historical precedent" for the current situation facing the Prime Minister and her Government.

The Labour leader said: "There are no historical precedents for what they have done to our economy. Britain has faced financial crises before but the prime ministers and chancellors who wrestled with them all acted fast.

"When their policies ran against the rocks of reality, they took decisive action.

"But this lot, they didn't just tank the British economy, they also clung on as they made the pound sink. Clung on as they took our pensions to the brink of collapse.

"Clung on as they pushed the mortgages and bills of the British public through the roof.

"They did all of this - all the pain our country faces now is down to them."

Sir Keir also referenced Neil Kinnock's famous 1985 party conference speech, as he accused Truss of "grotesque chaos" in the sacking of her chancellor Kwasi Kwarteng.

Meanwhile, senior Tory MP Tobias Ellwood joined those welcoming the installation of Jeremy Hunt as the new Chancellor, as he indicated he has had the Conservative whip restored.

In a reference to his loss of the party whip after he failed to support the Government in a confidence vote during the summer while overseas, Mr Ellwood tweeted: "Glad to be off the (Odesa) naughty step & back in Pty as we enter this re-set."

Mr Ellwood said Mr Hunt was a "wise inclusion" in the Government.

"We thrive when governing as 'One Nation' Tories harnessing a coalition of talent - solving economic crises via sound money & fiscal responsibility."

Sir Keir Starmer accuses Prime Minister Liz Truss of ‘clinging to power’