Rachel Reeves

I'm chancellor in the world as it is, not as the world as I might wish it to be.

And I have to respond to those.

But those fiscal rules that we set out in the election,

to pay for day-to-day spending through tax receipts, to get debt down as a share of GDP.

To get the deficit down this year, those commitments stand.

And I'm also determined to bring down inflation further because I recognize that inflation at 3.8% is still too high.

That is a global challenge as well, but we get that down.

Yes it does and we also made that commitment around corporation tax as well and those commitments stand and they stand for a reason because working people paid a heavy price in the last parliament it was the worst parliament on record for living standards and

It's still the biggest challenge for working people.

So those commitments stand.

But what I want your viewers to know, that my commitments to economic stability, to fiscal responsibility and to those fiscal rules, they absolutely stand because they are the bedrock of stability and only with stability can we grow the economy.

I would like to differentiate ourselves from what's happening in other countries around the world.

Well, yields are higher here.

Yes, but they have struggled to get a budget through.

And we successfully got the budget through last year and the spending review.

And many people said that wouldn't be possible because we had to make difficult decisions.

But I'm up for difficult decisions when they are in the national interest and I will continue to...

to take them.

We already tax wealth in Britain with capital gains tax, with inheritance tax.

The budget last year, as you know, we got rid of the non-domicile status in the tax system.