Jeremy Hunt claims Labour changing debt definition will ‘punish families with mortgages’ – as it happened

Rachel Reeves walks to the G20 meeting in Washington DC on 24 October. Photograph: José Luis Magaña/AP

5.41pm BST

Afternoon summary

• Rachel Reeves will pledge to reverse huge cuts in public investment in her budget next week after she confirmed that rules limiting her spending power will be overhauled to enable the government to free up as much as £50bn for infrastructure spending. The Conservatives are claiming that, by using a new definition of debt for her fiscal rules, Reeves will “punish families with mortgages” because interest rates will be higher for longer. (See 4.28pm.)

• Keir Starmer is open to discussing non-cash forms of reparatory justice for Britain’s former colonies, the Guardian understands.

• Shabana Mahmood, the justice secretary, is facing demands from a watchdog to place another prison into emergency measures because of “very high levels of violence”, drug problems and compromised security.

• Sales of Boris Johnson’s memoir, Unleashed, have slumped by 62% in its second week since publication.

5.34pm BST

In interviews today, Rachel Reeves, the chancellor, has said that although she is changing the fiscal rules to allow more investment, she will put “guardrails” in place to stop money being wasted. She told Sky News:

We will measure debt differently but of course we’ll put guardrails in place to ensure that every pound of taxpayers’ money spent is spent wisely, and we’ll involve the National Audit Office and the Office for Budget Responsibility in that.