Andy Burnham to face first PMQs as borrowing costs rise – UK politics live

PMQs comes as Resolution Foundation says it is not ‘realistic’ to think defence spending can increase without tax rises

• Analysis: new battle lines drawn as the leaders face off

Steven Morris is a Guardian reporter covering Wales.

The Welsh first minister, Rhun ap Iorwerth, sounded a rather gloomy note at his press conference to mark the start of the new Senedd term, warning the country faced a “very challenging” financial picture for the rest of the decade.

Our budget for day-to-day spending next year will be lower in real terms than this year. Our capital budget will fall in real terms every year until the end of the decade.