Jacob Rees-Mogg claims parts of economy in ‘good state’ and insists pensions safe

Cabinet minister clashes with BBC host – and reveals his own mortgage payments have gone up

Parts of Britain’s economy are in “good state”, said business secretary Jacob Rees-Mogg despite negative growth, the falling pound, rising interest rates and fears for pensions.

Mr Rees-Mogg said official figures showing the economy shrank by 0.3 per cent in August was only “a small amount”, adding that the government stats “can’t be entirely relied on”.

He insisted that pension funds “aren’t at risk” – despite the pound falling again on Tuesday after the Bank of England governor warned its emergency plan aimed at protecting pensions would end on Friday.