Highlights, not verbatim, from George Osborne’s interview on Radio 4’s World at One programme:
Yatchgate: I didn’t break any rules but I did make a mistake. It didn’t look good. I regret how I operated. I will no longer be involved in party fundraising.
Sterling’s slide against the dollar: There is a "flight from sterling" because of concern at the UK economy. It represents an international vote of confidence in the UK economy and our levels of borrowing.
Interest rates: The Chancellor and Shadow Chancellor should not speculate about the future of interest rates but should respect the independence of the Monetary Policy Committee. Keeping control of the public finances makes it easier for the Bank to cut interest rates; something everyone in the country wants.
Public spending: Gordon Brown "is a man with an overdraft not a man with a plan". The extra borrowing he is advocating is not a strategic move as part of a plan but simply a reflection of reduced tax receipts and higher benefit payments associated with the recession.