May 26, 2022 11:25 GMT
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Chancellor of the Exchequer Rishi Sunak delivering economic statement to the House of Commons.
- Sunak: "High inflation is causing acute distress"
- Sunak: "We will turn moment of difficulty into springboard for growth"
- Sunak: "Over the course of the year the situation has evolved and become more serious”
- Sunak: "3 specific tools to combat inflation: independent monetary policy, responsible fiscal policy, and activist approach to supply-side reforms'
- Sunak: 'Financial support should be timely, temprorary, and targeted'