Member

Since I last addressed the House, the costs of oil and gas have remained high, and last week the Bank of England estimated that inflation could be between 3% and 3.5% in the next few quarters. The full economic impact of the war remains uncertain, but it makes our economic plan even more important: to build prosperity that is secure and resilient and to bear down on the cost of living and protect the public finances, with delivery through our ironclad fiscal rules. Today, I will set out further action that I am taking.