John Healey: “We will meet our commitments on defence to our international allies.”

5% represented a 'reasonable ceiling' on the tax.

The prime minister and I are in lockstep in our commitment to meeting the fiscal rules at the upcoming Budget, to balancing the books with a buffer to protect against uncertainty.

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

I want to see this country as a country of wealth creation. I want our government decisions and policies to raise the levels of confidence, and investment, and profit in British business.