Public Sector Debt

Treasury written question – answered on 11 September 2023.

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Photo of Kieran Mullan Kieran Mullan Conservative, Crewe and Nantwich

To ask the Chancellor of the Exchequer, what progress he has made on reducing the level of national debt.

Photo of John Glen John Glen The Chief Secretary to the Treasury

Reducing national debt is one the Prime Minister’s five priorities, which is reflected in the Government’s fiscal rules. In its March forecast, the independent Office for Budget Responsibility confirmed that the Government is on track to deliver this, with underlying debt falling as a percentage of GDP in 2027-28. To ensure fiscal sustainability, the Government has taken difficult but necessary decisions to ensure that debt is falling.

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