Councillors were recommended to approve the plan but decided to defer the decision to give residents more time to comment.

The band features Happy Mondays stars Shaun Ryder and Mark ‘Bez’ Berry, as well as former Oasis bassist Andy Bell.

Kallum Pickering, chief economist at brokerage Peel Hunt, said: “If bond yields rise further, Reeves may be forced to make the economically damaging decision of further increasing taxes or cutting ...