Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department has a theory of economic growth it uses when formulating (a) fiscal and (b) economic policy.

The Government’s growth mission is its central mission. Its plan for growth is built around the three essential elements of stability, investment, and reform. The work of the growth mission can be structured into seven pillars, as set out in the Autumn Budget document. This approach is informed by economic analysis and will deliver a decade of national renewal by fixing the foundations of the economy and rebuilding Britain, making every part of the country better off.

The Government's fiscal policy objective is to support sustainable economic growth and provision high-quality public services and investment across the UK, by effectively managing public finances and ensuring taxes and borrowing are sustainable.

Economic and fiscal stability are prerequisites for the economy to grow, as they give UK businesses and households the confidence to make decisions on future investments and consumption. This encourages innovation and growth over the long term.