John Healey: “If I respond to speculation now, that will only fuel more speculation, and it's quite right.”

We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.

I want everyone from apprentices, IT staff and junior officials to senior economists and private secretaries to contribute to the exercise.

I will oversee strong fiscal discipline

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,