National Debt

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 18th July 2017.

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Photo of Rishi Sunak Rishi Sunak Conservative, Richmond (Yorks) 12:00 am, 18th July 2017

The Chancellor will be aware that the current cost of Government borrowing is at a historical low, with gilt yields at 1%. Does he agree that, if markets lose confidence in our ability to live within our means, the cost of that borrowing would spiral, costing us billions of pounds? That would mean less to spend on our public services.