- Coronavirus pandemic
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The prime minister and chancellor will now self-isolate as normal after contact with Health Secretary Sajid Javid, who tested positive for coronavirus.
The reversal comes just hours after they said they would take part in a pilot scheme involving daily testing.
Opposition parties said it suggested there was "one rule for them and another for the rest of us".
Downing Street said Boris Johnson will conduct meetings remotely at Chequers.
Chancellor Rishi Sunak said on Twitter: "Whilst the test and trace pilot is fairly restrictive, allowing only essential government business, I recognise that even the sense that the rules aren't the same for everyone is wrong."
'One of the fastest government U-turns ever'
This must be one of the fastest government U-turns ever: 157 minutes after saying the PM and chancellor wouldn't be isolating, Downing Street decided they would.
The reason is set out by Rishi Sunak on Twitter – ministers can't be seen to be following different rules to everyone else.
But questions will be asked about why No 10 initially said they would be escaping isolation. Who made the decision? Who signed it off? The prime minister and chancellor must have known about the plan.
There's also the fact that the PM and chancellor had the choice over whether to isolate – which most people don't at the moment.
The political symbolism is also highly significant. Three senior government ministers will be in isolation on the day almost all legal restrictions are lifted in England.