Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to tackle inflation.

The Government’s commitment to price stability remains absolute. Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England, which has the primary objective of maintaining price stability. Since the MPC became responsible for controlling inflation it has averaged close to the 2% target.

We understand the pressure that a higher cost of living places on people. The government is working with international partners to tackle global supply chain disruption and providing support worth around £12 billion this financial year and next to help people with the cost of living. This includes cutting the Universal Credit taper rate to make sure work pays, freezing alcohol and fuel duties to keep costs down, and providing targeted support to help vulnerable households with their energy bills and other essentials.