Budget Speech Underway, Sunak: 'Our Plan Is Working'

Chancellor Rishi Sunak now delivering budget statement, select comments below:

• "Growth up, jobs up, and debt down: Let there be no doubt – our plan is working."
• "The House will recognise the challenging backdrop of rising inflation. Let me begin by carefully explaining what is happening in our economy and why. Inflation in September was 3.1% and is likely to rise further - the OBR expect CPI to average 4% over next year."
• "But where the Government can ease these pressures, we will act: [...] We've already suspended the HGV levy until August and I can do more today… …extending it for a further year until 2023, and freezing Vehicle Excise Duty for heavy goods vehicles."
• "To help with the cost of living, we've introduced a new £500m Household Support Fund… …and today's Budget will further support working families. And in terms of our fiscal policy, we are going to meet our commitments on public services and capital investment… …but we are going to do so, keeping in mind the need to control inflation"