At a regional summit held in Birmingham, the Chancellor and the Business Secretary addressed concerns amid a challenging economic climate.
Boris Johnson is scheduled to provide testimony to the Covid inquiry, focusing on the pandemic’s impact on children and young people. Martin Belam is reporting on this event through a dedicated live blog.
This morning, Peter Kyle, the Business Secretary, participated in several interviews. When questioned on LBC about whether the latest borrowing statistics suggested that the UK was heading towards financial insolvency, he responded:
“That’s not the case. Evaluating the debt-to-GDP ratio shows that the nation’s finances remain stable. We are actively investing to overcome the economic difficulties left behind by the previous Conservative administration.”
He emphasized that upon taking office, the government faced a critical growth crisis characterized by stagnant or negative economic expansion and high taxation. “Our priority has been to break free from this stagnation. Thanks to Rachel Reeves‘ efforts, economic stability has been reestablished.”