John McDonnell MP, Labour’s Shadow Chancellor, responding to the ONS public sector finance figures out today, that show public sector net debt has increased by £58.6bn since November 2015 and is now at £1,655.1 billion at the end of November 2016, equivalent to 84.5 per cent of GDP, said:

“After six wasted years of Tory economic failure, supported by both Philip Hammond and Theresa May, the deficit has not been cleared as they promised, and the national debt continues to rise.

"Yet despite their broken promises on the public finances they continue to hand out huge tax giveaways to big business and a wealthy few, while enforcing spending cuts on everyone else; underfunding our NHS and leaving our care system in crisis for the most vulnerable this Christmas.

"Only Labour has a serious plan for public finances with strategic investment underpinned by our Fiscal Credibility Rule, to help build an economy where no one and no community is left behind.”