- Sir Howard Davies, the former chair of NatWest, has warned that the UK cannot afford the pension triple lock amid spiralling borrowing costs.
- Sir Howard cautioned that government credibility is at risk if public spending concerns causing market jitters are not addressed.
- Lord Jim O’Neill, an ally of Prime Minister Andy Burnham, said that the upcoming Budget must include tax increases or spending cuts to restore fiscal headroom.
- Lord O’Neill suggested bond markets would respond favourably to credible action on welfare spending or the triple lock.
- Cabinet Office minister Sally Jameson insisted that the government will strictly control public spending and stick to its fiscal rules.
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