Rachel Reeves vows to stick to fiscal rules and declines to rule out wealth tax – as it happened

Rolling coverage of the latest economic and financial news, as chancellor Rachel Reeves testifies to House of Lords economic affairs committee

• Full story: UK borrowing rises more than expected, putting pressure on Rachel Reeves

• Analysis: Rachel Reeves faces gloomy autumn after borrowing overshoots

Britain's monthly borrowing in June would have paid for half a nuclear power station!

The UK government has, thiss morning, struck a deal worth more than 38bn with private investors to back Britain's biggest nuclear project in a generation at the Sizewell C site on the Suffolk coast, my colleague Jillian Ambrose reports.