John Healey: “I will work in lockstep with the new PM to meet the fiscal rules with a buffer against uncertainty.”

We have cut VAT on electricity bills and capped bus fares at £2 - to give breathing space to those feeling the strain.

Fiscal discipline has been the bedrock of the government that I was part of for the first couple of years, as a Labour government since July 2024.

We’ll be watching closely for any suggestions that customers are being taken for a ride at the pump or the till.

At the spending review, we will set out a clear path to meeting our 3.5 per cent Nato commitment in 2035 and we will set a target date on that path for 3 per cent,