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Reeves: 'Before the steps I am about to take, the current budget would have been in deficit'

She says today's announcements mean the government's budget will move from a deficit of 拢36.1bn in 2025/26 and 拢13.4bn in 2026/27, to a surplus of 拢6bn in 2027/28, 拢7.1bn in 2028/29 and 拢9.9bn in 2029/30.

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Chancellor explains the stability rule, which ensures public spending is under control - balancing the current budget by 2029-30 so that day-to-day spending is met by tax receipts.
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