Steve Reed said the Government was looking at ‘modular’ forms of building to ensure sites could go up quickly.

In an indication some form of tax rises could be on the table, the Chancellor suggested the Government needed to ensure its fiscal rules are met.

Hurricane Melissa intensified to Category 5 strength on Monday as it neared Jamaica. Melissa is forecast to make landfall on the island on Tuesday and cross Cuba and the Bahamas through Wednesday.

The company employs more than 7,000 workers globally, with around 2,000 of these based at its North Sea hub in Scotland, according to reports.