Marks & Spencer slashed the price of selected men’s suits yesterday to only £24 as it started its summer Sale.

The retailer also cut the price of some summer dresses to£9 and T-shirts to£2. It has reduced prices by up to 60 per cent as it tries to turn around flagging sales.

M&S's cheapest men’s suit is machine-washable and made from polyester, reduced from£49.50 to£24. M&S Blue Harbour T-shirts are down from£5 to£2 each, a discount of 60 per cent.

The price crash comes as high street retailers battle it out to draw in cash-strapped customers. Clothing and shoe retailers have had a particularly tough time.