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Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 6th November 2018.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 12:00 am, 6th November 2018

Yes, I have a very firm plan to reduce the debt. My hon. Friend will see from the Office for Budget Responsibility forecast published last week that the debt will fall from over 85% of GDP to below 75% by the end of the forecast period. But my right hon. Friend the Prime Minister and I have decided to take a balanced approach, where reducing the debt has to take place in tandem with keeping taxes low, supporting our public services and, probably most important of all, investing capital in Britain’s future.