Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Plan for Change, published on 5 December 2024, CP1210, what metrics she plans to use to measure economic stability beyond gross domestic product.

The government’s Plan for Change can only be delivered on the foundation of a stable economy.

Achieving economic stability requires macroeconomic stability, which gives firms and households the certainty to plan spending and investment; financial stability, which supports the real economy and ensures we can withstand shocks; fiscal credibility, which keeps inflation expectations anchored; and long-term policy certainty, which encourages investors. The Autumn Budget took significant steps to restore stability to public finances and improve our public services. Only by achieving stability can we grow the economy and keep both taxes and inflation low.

The breadth of economic stability will require the use of many metrics to track it. These may include measures of price stability and inflation; measures of policy uncertainty; and a range of financial market indicators.