Vet prices have risen at nearly twice the rate of inflation, the Competition and Markets Authority found.

The chancellor also said she was considering further measures on public spending, in a bid to put the UK’s finances on a firmer footing.

It is the third-largest fine the communications watchdog has ever issued.

The UK has also frozen assets linked to the alleged scammers, including a £100m London office building.

But the UK is also predicted to suffer the highest rate of inflation in the G7 both this year and next.

Drawn by local talent, cheap labor and state cash incentives, start-ups building the weapons of the future are revitalizing manufacturing in once-vibrant industrial towns.