Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the economic impact of leaving the European Union on (a) energy prices, (b) food prices, (c) footwear prices and (d) NHS funding.
It remains challenging to separate out the effects of different events. The Bank of England has also noted that the majority of the increase in inflation since the pandemic is likely due to global factors.
The government understands that people across the UK are worried about the rising cost of living. In May, we announced over £15 billion of additional cost of living support, targeted at those with the greatest need. Government support for the cost of living now totals over £37 billion this year, equivalent to 1.5% of GDP.