Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to reduce inflation.

The Bank of England has the responsibility of controlling inflation, and the Government fully supports them as they take action to return inflation sustainably to 2%. Alongside this, the Government is maintaining stable public finances, reducing borrowing year after year to ease pressure on prices. Borrowing is set to fall by almost a percentage point as a share of GDP this year compared with last, and by a further 0.8ppts next year. The Chancellor has asked departments to prioritise reducing inflation when developing policies for the Autumn Budget, ensuring decisions support stability and long-term growth.

The Government is supporting households with targeted measures to ease pressure on budgets. This includes increasing the Universal Credit Standard Allowance, extending the Household Support Fund with £1 billion a year for crisis support through councils, and expanding Free School Meals to all children with a parent on Universal Credit from 2026. The Warm Home Discount will be expanded to cover around 6 million households.