Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the continued fall in the value of the pound; and whether they have any plans to prevent further decline.

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