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Interest Rates

Question for Treasury

UIN HL15255, tabled on 26 April 2021

To ask Her Majesty's Government which department or agency is responsible for managing the sensitivity of (1) public accounts, and (2) expenditure, to interest rate movements.

Answered on

29 April 2021

As the government’s economic and finance ministry, HM Treasury is responsible for maintaining control over public spending, including debt interest expenditure. The Office for Budget Responsibility publish estimates of the sensitivity of debt interest spending to changes in interest rates in their Economic and Fiscal Outlook. We have strong independent economic institutions and a well-established macroeconomic framework that ensures we are well placed to deal with risks to our public finances.

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