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Rachel Reeves, the shadow chancellor, said that if Labour were elected it would aim to borrow only for investment. Annual inflation fell to 3.4 per cent in February, from 4 per cent in January. Kemi Badenoch, the Business Secretary, said that only a ‘small minority of MPs’ were talking about getting rid of Rishi Sunak as party leader and replacing him with Penny Mordaunt.
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