Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the rise in borrowing in March; and what steps they are taking to ensure that borrowing levels remain sustainable, particularly in relation to tax rises.

The fiscal rules confirmed at the Budget last October put the public finances on a sustainable path and prioritise investment to support long-term growth. These rules are to ensure the current budget is in balance and net financial debt falls by 2029-30.

At the Spring Statement in March, the independent Office for Budget Responsibility (OBR) showed that the government is on track to meet its fiscal rules, thanks to decisive action taken to reduce spending and grow the economy.

The OBR will produce a new forecast in the Autumn for the annual Budget, and the Chancellor will take decisions in the round based on that forecast.