Treasury written question – answered at on 9 December 2025.
Clive Efford
Chair, Public Accounts Commission, Chair, Public Accounts Commission
To ask the Chancellor of the exchequer, what steps she is taking to reduce Government borrowing.
Lucy Rigby
The Economic Secretary to the Treasury
We need to address the UK’s borrowing and debt, so we spend less on debt interest and more on the priorities of working people.
The government has a credible consolidation plan that ensures borrowing is falling in every year of the forecast. Borrowing this year is set to be the lowest for 6 years.
The government is reducing borrowing while protecting investment, and is maintaining an increase of over £120 billion departmental capital spending over the Parliament.
From 2025 to 2030, the UK is reducing government borrowing more than any other G7 country.
Yes1 person thinks so
No0 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
