Here are the highlights of the chancellor's Pre-Budget Report:

The UK and the world is in an 'unprecedented crisis' and action to restore stability is crucial.

A strong banking sector is crucial.

The process for banks to raise equity will be easier

The UK is not isolated from this crisis

The UK is the world's leading financial sector

UK share values are down by one-third

Inflation expected to continue to fall

Interest rates at lowest for 50 years

This is not enough on its own

We need action now