00:00 I think it's very important that we have debt under control because that financial security
00:05 is not just important for the country, it's important for the future of our public services.
00:09 And I think everyone knows the context of the last few years, obviously a pandemic which
00:16 rightly necessitated the government to step in to support the NHS, the vaccine rollout, furlough,
00:21 public services more generally, but then also the energy crisis which again rightly required
00:27 the government to step in and support households with energy bills. And I think every time the
00:31 Chancellor has stood up since I got this job, the overall debt profile has improved in terms
00:39 of the percentage of GDP. Headline debt is forecast to fall from next year and we've always said on a
00:44 medium-term trajectory we'd have debt fall in which the rule sets out, the OBR confirmed that
00:49 we are meeting it. But that requires constant discipline on public spending and spending
00:54 decisions as you know.
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