Giving statements to the UK's MPs, Chancellor of the Exchequer Rachel Reeves claimed that she is "absolutely committed to meeting the fiscal rules" set out in the October budget. She emphasised that a loss of control of public finances by governments is known to crash the economy.
Reeves also reaffirmed the British government's intention to go "further and faster" on its growth plan and acknowledged the urgency of setting out further details of the plan. She also revealed that she plans to prioritize growth at the World Economic Forum in Davos, where she will deliver a speech on the topic next week.
The UK chancellor described recent market volatility as the result of "global economic uncertainty" and noted that after a period of turbulence, the pound and UK government borrowing costs are showing signs of stabilising today.
In addition, she defended her trade visit to China.