John Healey: “For the first time we’re giving mayors a share of income tax so communities directly benefit when their economy grows.”

If I respond to speculation now, that will only fuel more speculation, and it's quite right.

I want to see wealth creation in this country. I want to see businesses make a profit… (and) we need an active, accountable state at all levels to remove blockages and create the conditions for more investment.

Whether it is the cost of business or the cost of living, the only way we deal with these in the long term is growth.

I want people to feel confident about Britain and our future.