Treasury chief secretary responds to urgent question in Commons as market turmoil hits pound
Rachel Reeves will not break her promise to borrow money only for investment, even as gilt yields rose to their highest levels since the financial crisis, her deputy has said.
Darren Jones, the Treasury chief secretary, told MPs the chancellor would not borrow to pay for day-to-day spending despite rising UK borrowing costs that threaten to make it much harder for her to meet her fiscal rules.
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