John Healey: “We have backed British jobs, British skills and British businesses.”

Conflict and uncertainty increases inflation, threatens growth and pushes up costs for businesses and governments alike.

It’s the bedrock for economic stability.

“But no country can face these pressures alone. And these shocks are being felt worldwide. They’ve been felt in people’s pockets, in their weekly shops, filling up their cars.”

We have cut VAT on electricity bills and capped bus fares at £2 - to give breathing space to those feeling the strain.