John Healey: “Time to get on with the job.”

Since 2022, we have been paying that Truss penalty as we battle to re-establish belief in Britain and the UK’s fiscal sustainability.

Let me be clear. I recognise that the cost of business – that’s energy bills, regulation burdens, planning constraints, labour costs – have grown since Covid. And I want to draw the line.

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.