The Number 10 spokesman in the Lobby briefing of press hacks today:
“We doubled our headroom against our fiscal rules. Borrowing is forecast to be lower than the G7 average… we have delivered stability when it comes to the public finances, and we’ve done so in a way that allows us to invest in priorities such as the NHS, and as you’ll see from next month, bringing people’s energy bills down”.
Rachel Reeves attacks Liz Truss’s mini-Budget with every other breath. The UK’s 10-year gilt yield is currently higher than it ever was under Truss. Last month the government borrowed £14.3 billion, which was almost double the forecasts. When interest rates go back up later this year, who will Reeves blame then? If she’s even still in post…
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