Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking reduce the national debt in the (a) short- and (b) medium-term.

The Government is committed to sustainable public finances and has taken responsible decisions to keep debt falling, while reducing taxes and boosting economic growth. Over the short and medium-term, this includes tough choices to control public pending and drive greater efficiencies.

The independent Office for Budget Responsibility (OBR) confirmed that underlying debt is forecast to fall to 92.8% of GDP in 2028-29 and is 2.1 percentage points lower on average compared to the OBR’s March forecast.