Politics Latest: Starmer ‘makes it clear’ that Budget will raise taxes

The Tories “knew the public services were broken”, says the Prime Minister.

“They knew there was a black hole in public finances,” he adds.

“Spending the reserves three times on Rwanda, shelter hotels and supporting bankrupt railway companies.

“And that’s before we even get to the challenges that have been ignored for 14 years — an economy riddled with weak productivity and investment.”

Sir Keir says he “will not offer that as an excuse”.

“I expect to be judged on my ability to handle it,” he says.

He goes on to say that Labor will “deliver the change that working people need”.

“We won’t just get through this – there are better days ahead,” he adds.

“A new future, a better future is being built.”