John Healey: “The step back from this is that the future of Ukraine is the future of European security, and that’s why it’s so crucial…”

Despite conflicts in the Middle East and Europe hitting people across the world, today's figures offer more proof of Britain's resilience in the face of these global shocks.

This week I will meet international finance ministers in Bangkok to discuss how we limit the impact of the conflicts on people and businesses, while maintaining strong fiscal discipline.

But Britain’s economy is showing strong international resilience in the face of these challenges: we’re forecast to be the joint second fastest-growing G7 nation in 2026 and have the lowest deficit in the G7 by 2031.

We are determined to drive good growth in every postcode, provide some breathing space for today, and fresh hope for the future.