Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to reduce the Government’s exposure to volatility in debt interest costs.

Fiscal discipline is the bedrock of economic stability and national security. The Government will meet the fiscal rules, with a buffer against uncertainty.

HM Treasury and the Debt Management Office manage the Government's financing costs in line with the debt management objective, which is to minimise, over the long term, the costs of meeting the Government's financing needs, taking account of risk. As set out in the Debt Management Report 2026-27, in determining the annual financing remit the Government assesses interest-rate, refinancing and inflation risks, and issues an appropriate balance of conventional and index-linked gilts over a range of maturities.