Question to the HM Treasury:

To ask His Majesty's Government whether they plan to request an updated Financial Stability Report from the Financial Policy Committee which would assess the cost of servicing the UK’s Government debt following the Autumn 2024 Budget.

At the Budget, the Government took tough decisions on tax, spending and welfare to repair the public finances and restore Britain’s economic stability. The Office for Budget Responsibility forecasts borrowing to fall every year of the forecast, from 4.5% of GDP in 2024-25 to 2.1% of GDP in 2029-30. The Government has confirmed robust fiscal rules to put the public finances on a sustainable path.

The Bank of England’s Financial Policy Committee (FPC) is the UK’s macroprudential authority. Twice per year, the FPC publishes a Financial Stability Report (FSR) setting out its view on the stability of the UK financial system and what it is doing to remove or reduce any risks to it. The latest FSR, published on 29 November 2024, covers developments since June.