John Healey: “5% represented a 'reasonable ceiling' on the tax.”

I think in recent decades, and this is true in Heathrow and airports right across the UK, that they have been a big part of jobs and growth. And the case for a third runway at Heathrow has always been a case for growth.

We will meet those fiscal rules, and I think one of the hallmarks of the IMF’s backing of our fiscal plans is recognition that there isn’t just a forecast for the future, but there’s some evidence of performance already.

My observation on the banks is that people too often see them as big, distant financial institutions, when they are hardwired into the economic fabric of this country and our future prospects.

It's a sign of resilience in the UK economy that some had not expected