It is why the government is in a position to invest in public services and support families because of the choices it has made. The tough, long-term decisions we have taken — independence for the Bank of England, new fiscal rules and a reduction in debt — have created a strong platform of economic stability. With low and stable inflation, interest rates set by the Monetary Policy Committee to meet the government's symmetric inflation target, and fiscal policy supporting monetary policy over the cycle, the economy has grown continuously for 62 consecutive quarters.

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