UK Chancellor Healey says borrowing costs are at a historic high, fiscal discipline underwrites every promise the government makes and the UK must have a buffer to protect against uncertainty

Government spending is to be controlled. Fiscal credibility and growth go hand-in-hand. Recognises the elevated costs of living and costs for businesses. Wants to draw a line under this. Will set out a roadmap to fiscal devolution at the upcoming budget. Will be changing the Treasury Green Book discount rate from 3.5 to 3.0%.