Johnson rules out holding indyref2

Restraint to pledge billions extra borrowing and investment

some fiscal cycle”, but “down to solid economic stewardship”.

“By far the biggest fear of business is a Corbyn-led government,” he added.

Mr Javid said his new rule would allow 3% of GDP in public investment

– potentially an additional £100bn over current plans.

He said: “Historic low borrowing rates mean we should adjust our framework to fund the decade of renewal.

“Incredibly, at the moment we can borrow in real terms at negative interest rates. We can borrow to invest.”

He added: “There will be new hospitals, schools, roads, railways, better broadband.

“New connections and opportunities in every part of our nation. We can afford to do a lot. We can afford to live within our means. We can afford the infrastructure revolution. We can afford some tax cuts. We have worked out the numbers.”

BIG SPENDERS: Sajid Javid, above left, and John McDonnell, above, vow to loosen the nation’s purse strings

Boris Johnson yesterday described Jeremy Corbyn and Nicola Sturgeon as “yoke-mates of destruction” as he ruled out ever allowing another Scottish independence referendum

Mr Johnson used the phrase when he was asked which of the two leaders was the greatest threat to the UK.

The UK Tory leader was reacting to suggestions the UK Labour and SNP leaders could strike a deal to deliver indyref2.

Asked if he would give a cast iron guarantee not to hold a referendum, he said: “Absolutely, there is no case. People were promised in 2014 that it would be a once in a generation event.”

Reacting to Scottish Labour’s statement they would not do any deals with the SNP, Mr Johnson said: “Pull the other one. It’s perfectly obvious that Jeremy Corbyn is going to rely on the SNP to get him into power and to do that he’s done a shady deal to have a second referendum.”

But SNP Westminster leader Ian Blackford said: “Boris Johnson’s stance is undemocratic and ultimately untenable. The SNP already has a cast-iron mandate for a referendum and the Scottish people want the chance to have their say.”