The Institute for Fiscal Studies called out Sunak’s claims that debt is falling, claiming a victory in one of his five priorities. The Prime Minister posted a video on X yesterday saying “debt is falling“, while slightly toning down his words in the Commons that “debt is set to fall“. The only problem is that this isn’t entirely accurate…

According to the Office for Budget Responsibility, debt is only set to fall between 2026-27 and 2027-28, and latest ONS figures show that underlying government debt actually rose to 89.3% of GDP at the end of September, compared to 83.4% last year.

The IFS‘ Ben Zaranko blasted Sunak’s claims, saying, “It’s not accurate to say that debt is falling. Public sector debt is currently rising in cash terms, real terms, and (most importantly) as a per cent of national income.” Wishful thinking…