Sir Nicholas Soames: To ask Mr Chancellor of the Exchequer, what he assesses to be the major risks to the UK economy.

Harriett Baldwin, Economic Secretary to the Treasury (City Minister): Britain is in a much stronger economic position than five years ago, with employment at 74% and the deficit down. However, as the Chancellor set out in his speech on 7 January, we face a dangerous cocktail of economic risks from around the world this year. The International Monetary Fund has revised down their forecasts for world growth in 2016 and 2017, while the UK forecasts remain unchanged. This shows that the best thing that we can do is to continue to fix our public finances, back business and deliver our long-term economic plan.