The Chief Secretary to the Treasury responds to the PSF release.

Darren Jones said: “We’re investing in our public services, and modernising the state, to improve outcomes and reduce costs in the medium term.

“Far too much taxpayer money is spent on interest payments for the longstanding national debt. That’s why we’re driving down government borrowing over the course of the parliament – so working people don’t have to foot the bill and we can invest in better schools, hospitals, and services for working families.”