We will continue to keep the situation under review, recognising the current high level of uncertainty, and continue to monitor the ongoing impact on the economy. Energy prices have increased globally, and there are supply-chain issues as the world economy recovers from the pandemic and adapts to the shock of the war in Ukraine. The Government recognise that businesses are also concerned. That is why in 2022-23 we are providing support worth more than £22 billion to help families with the pressures in the immediate term. However, we cannot achieve that overnight. Fundamentally, the only way to deal with it properly is to grow the economy, enable businesses to invest and create jobs, increase wages and increase productivity. The Government have made dealing with that challenge our top priority. The rising cost of living is a global challenge, and I know that this is a worrying time. I am pleased to speak in support of the Queen’s Speech and the measures that it contains to make the United Kingdom stronger, healthier and more prosperous than before.
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