Economy Update

Part of the debate – in the House of Commons at 12:28 pm on 5th November 2020.

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Photo of Rishi Sunak Rishi Sunak The Chancellor of the Exchequer 12:28 pm, 5th November 2020

My right hon. Friend is right, and there will be a time when it is appropriate to do exactly as she suggests. Given the uncertainty at the moment, particularly with the economic forecasts, it is difficult to do that with precision and I think it would be inappropriate. However, in a few weeks’ time we will have an updated set of forecasts from the Office for Budget Responsibility. They will illustrate the future direction of the deficit and the public finances, which will give us a sense of the task ahead of us and allow us to have a conversation about how, over time, to return the public finances to the sustainable position to which she rightly says they should be returned.