Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of why Britain's borrowing costs are the highest in the G7; and what plans they have to reduce them.

It is long-standing convention that the Government does not comment on specific market movements.

Fiscal credibility is the Chancellor’s first priority. That is why the Chancellor has set out that we will meet the fiscal rules, balancing the books with a buffer against uncertainty, controlling borrowing to bear down on inflation and debt interest costs, and reducing long term pressures on our public finances.