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A City of London event where the Chancellor, Philip Hammond, was due to give a key speech has been cancelled following the Grenfell Tower tragedy.

He had been due to speak at the annual Mansion House dinner on Thursday night.

Mr Hammond said he had withdrawn from the speech "in view of the Grenfell Tower tragedy", adding: "My thoughts are with the local community."

A spokesperson for the City of London Corporation, which organises the event, echoed the chancellor's comments.

"In the light of the tragedy at Grenfell Tower we are cancelling tonight's Mansion House Dinner. Our thoughts are focussed with the victims and their families and friends."

Figures including Bank of England governor Mark Carney and the Lord Mayor of the City of London, Andrew Parmley, had been due to attend the Bankers and Merchants Dinner along with the chancellor.

A Treasury spokesman said Mr Hammond would deliver the speech intended for the Mansion House dinner in the near future.

His address was set to offer clues on the government's approach to the Brexit talks.

The chancellor had been expected to say that £48bn of funds from the European Union's investment bank would not be put at risk following Brexit.