00:00Economic and fiscal stability are the number one priorities for this
00:04government and that's what we achieved in the budget on Wednesday. A robust set
00:09of fiscal rules within a framework which gets debt down as our share of the
00:15economy but crucially within three years something the previous government never
00:20achieved we will not be borrowing at all for day-to-day spending. That's crucial
00:25for fiscal stability and combined with that we've now set the spending on
00:29envelope for the rest of this Parliament so we're not going to need to
00:33come back to find more money we've made those settlements we've agreed the
00:38framework for public spending for the rest of this Parliament. Well what is a
00:41sign of confidence and is that the International Monetary Fund has said on
00:46Wednesday evening that this budget secures fiscal stability whilst also
00:52starting to turn around the lacklustre growth performance of the UK economy so
00:57we've got a clean bill of health from the International Monetary Fund and the
01:01Office of Budget Responsibility the independent UK forecaster says that we
01:06will meet our fiscal rules with headroom two years early so this is a robust
01:10fiscal framework that delivers the economic and fiscal stability that our
01:15country desperately needs after the chaos and instability under the last
01:20government. Look I won't comment on market moves because markets move all
01:24the time but what I am confirming is that the International Monetary Fund has
01:29given our budget a clean bill of health and the Office of Budget Responsibility
01:32have confirmed that we meet our fiscal rules two years early. That should give
01:37confidence to investors that we have that plan to secure our public finances
01:43after the instability and chaos of the last few years.
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