John Healey: “This is not sentimentality, it’s supply side economics.”

I know people are worried about the impact of the conflict in the Middle East on their cost of living, which has been too high for too long and it has added pressure on British businesses.

This first-of-its-kind competition will help make sure more of the benefits of AI are felt in every UK postcode.

I know that some of the decisions I must take – and will take – will show the benefits in years to come.

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.