Theresa May is to distance herself from George Osborne’s economic legacy as she announces a “proper industrial strategy” that will see British workers getting a pay rise.

The Prime Minister will on Tuesday convene the first meeting of her new Cabinet committee on economy and industrial strategy, which will be attended by 10secretaries of state.

It comes as China warned that the “golden era” of relations with Britain is now in jeopardy after Mrs May postponed approval of the Hinkley Point nuclear plant amid security concerns over Chinese involvement.