Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of increased long term gilt rates on Government borrowing costs.

The government does not comment on specific financial market movements. Gilt yields are determined by a wide range of international and domestic factors, and it is normal for the price and yields of gilts to vary when there are wider movements in global financial markets.

The Chancellor has commissioned the Office for Budget Responsibility for an updated economic and fiscal forecast for the 26th of March, which will incorporate the latest data.