borrow

But he ruled out a wealth tax in November's budget and mounted a strong defence of Chancellor Rachel Reeves' fiscal rules, saying they were "non-negotiable," with the "global cost of borrowing as it now is".

Rejecting calls for a wealth tax and increases in borrowing to fund government spending, Sir Keir said he would not "cast off the constraints and indulge in ideological fantasy".

"They need to borrow money for our industry," she said.

Economists have said taxes will have to go up in the autumn Budget if the chancellor is to meet her self-imposed rules on borrowing to fund public services.

Students from Wales studying away from home can borrow up to £11,345, and some Welsh students are already entitled to maintenance grants.