John Healey: “This action to ease the cost of living is funded by savings made elsewhere, so there’s no burden to British taxpayers…”

We have backed British jobs, British skills and British businesses.

Britain faces these global pressures from a position of relative strength, the fastest growth in the G7 advanced nations in the first half of this year, the deficit being cut faster than in any other G7 country,

We’ll be watching closely for any suggestions that customers are being taken for a ride at the pump or the till.

What’s happening in the Middle East is hitting inflation, it’s hitting growth, it’s hitting borrowing costs.