Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to incorporate the recent fall in government borrowing costs into fiscal planning.

The Government sets fiscal policy on the basis of independent Office for Budget Responsibility (OBR) forecasts. The Chancellor commissioned an updated forecast to accompany the Budget on 26 November.

The government’s fiscal strategy, as set out at the Budget in October 2024 and the Spring Statement earlier this year, put the public finances on a sustainable path while prioritising investment to support long-term growth. At the upcoming Budget, we will continue to deliver that strategy, including by meeting the fiscal rules.

This is the responsible choice – to live within our means, reduce the amount we spend on debt interest, protect public services and support the Bank of England to get inflation down.