To ask the Secretary of State for Work and Pensions what assessment his Department has made of changes in the real-terms level of Bereavement Support Payment since its introduction in 2017; and what recent assessment he has made of the effect of inflation on the adequacy of that payment.

To ask the Secretary of State for Work and Pensions what assessment his Department has made of changes in the real-terms level of Bereavement Support Payment since its introduction in 2017; and what recent assessment he has made of the effect of inflation on the adequacy of that payment.

To ask the Secretary of State for Business and Trade, whether he has made a comparative assessment of industrial energy subsidies (a) provided by the US under the Inflation Reduction Act and (b) available to UK firms.

To ask the Secretary of State for Business and Trade, whether he has made a comparative assessment of industrial energy subsidies (a) provided by the US under the Inflation Reduction Act and (b) available to UK firms.

This briefing covers how the high period of inflation in the UK from 2021 to 2024 continues to affect household incomes, spending, poverty, savings and debt.

This briefing covers how the high period of inflation in the UK from 2021 to 2024 continues to affect household incomes, spending, poverty, savings and debt.

Letters dated 30/04/2026 between Governor of the Bank of England Andrew Bailey to Chancellor of the Exchequer Rachel Reeves MP regarding Consumer Prices Index (CPI) inflation in March 2026. (2 docs).

Letters dated 30/04/2026 between Governor of the Bank of England Andrew Bailey to Chancellor of the Exchequer Rachel Reeves MP regarding Consumer Prices Index (CPI) inflation in March 2026. (2 docs).

Economic effects of the US/Israeli conflict with Iran are emerging for UK consumers and businesses. However, flexible supply chains may cushion price pressures.

Economic effects of the US/Israeli conflict with Iran are emerging for UK consumers and businesses. However, flexible supply chains may cushion price pressures.

To ask the Secretary of State for Business and Trade, whether he has made a comparative assessment of the industrial energy subsidies provided by the US under the Inflation Reduction Act with those available to UK firms.

To ask the Secretary of State for Business and Trade, whether he has made a comparative assessment of the industrial energy subsidies provided by the US under the Inflation Reduction Act with those available to UK firms.

To ask the Secretary of State for Education, what assessment her Department has made of the potential impact of inflation on school budgets in this academic year.

To ask the Secretary of State for Education, what assessment her Department has made of the potential impact of inflation on school budgets in this academic year.

To ask the Secretary of State for Environment, Food and Rural Affairs, what steps her Department is taking to help reduce the potential impact of climate change-driven food inflation on food security.

To ask the Secretary of State for Environment, Food and Rural Affairs, what steps her Department is taking to help reduce the potential impact of climate change-driven food inflation on food security.

I thank my hon. Friend for that question. While other parties—specifically Reform and the Conservatives—wanted us to enter this war, we stayed out of it, and are working to de-escalate the conflict and reopen the strait of Hormuz. The economy was growing, interest rates were coming down and inflation was falling. As a result, every month since I have become Chancellor, wages have risen by more than inflation, easing the cost of living pressures that the previous Government oversaw.

I thank my hon. Friend for that question. While other parties—specifically Reform and the Conservatives—wanted us to enter this war, we stayed out of it, and are working to de-escalate the conflict and reopen the strait of Hormuz. The economy was growing, interest rates were coming down and inflation was falling. As a result, every month since I have become Chancellor, wages have risen by more than inflation, easing the cost of living pressures that the previous Government oversaw.

We now know what was going on in the economy before the attack on Iran. Growth was up. Unemployment was down. Borrowing was lower than forecast. The Chancellor took the right decisions and it was working. Does my right hon. Friend agree that families and businesses should know that, when times are tough, it is Trumpflation that is to blame?

We now know what was going on in the economy before the attack on Iran. Growth was up. Unemployment was down. Borrowing was lower than forecast. The Chancellor took the right decisions and it was working. Does my right hon. Friend agree that families and businesses should know that, when times are tough, it is Trumpflation that is to blame?

Lords statement on the spring meetings of the International Monetary Fund and the continued action that the Government are taking to strengthen our economic and energy security in response to the conflict in the Middle East.

Lords statement on the spring meetings of the International Monetary Fund and the continued action that the Government are taking to strengthen our economic and energy security in response to the conflict in the Middle East.

My Lords, the International Monetary Fund, in its latest World Economic Outlook, has warned that the energy shock stemming from the Iran war will hit the United Kingdom harder than any other advanced economy, notably in terms of growth and inflation. It is also the case that UK borrowing costs...

My Lords, the International Monetary Fund, in its latest World Economic Outlook, has warned that the energy shock stemming from the Iran war will hit the United Kingdom harder than any other advanced economy, notably in terms of growth and inflation. It is also the case that UK borrowing costs...

My Lords, the impact of the Iran war has made previous economic forecasts pretty much redundant. We talked last week about warnings from the IMF and the OECD, repeated today by the noble Baroness, Lady Neville-Rolfe, which essentially assess that the UK would suffer more than any other G7 economy....

My Lords, the impact of the Iran war has made previous economic forecasts pretty much redundant. We talked last week about warnings from the IMF and the OECD, repeated today by the noble Baroness, Lady Neville-Rolfe, which essentially assess that the UK would suffer more than any other G7 economy....

My Lords, I am grateful for the questions and comments from the noble Baronesses, Lady Neville-Rolfe and Lady Kramer. The noble Baroness, Lady Neville-Rolfe, started her comments by focusing on the IMF’s revised forecasts that were published last week and that we discussed briefly in this House then. As both

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My Lords, I am grateful for the questions and comments from the noble Baronesses, Lady Neville-Rolfe and Lady Kramer. The noble Baroness, Lady Neville-Rolfe, started her comments by focusing on the IMF’s revised forecasts that were published last week and that we discussed briefly in this House then. As both

notus-xml...

My Lords, one of the big problems that the Government faced when they took office was an unsustainable level of public debt and a totally unsustainable level of debt interest being paid by taxpayers each year on that debt. The Government saw clearly at the time that one thing they...

My Lords, one of the big problems that the Government faced when they took office was an unsustainable level of public debt and a totally unsustainable level of debt interest being paid by taxpayers each year on that debt. The Government saw clearly at the time that one thing they...

I am grateful to the noble Lord for his question. We are repairing the public finances. At the time of the spring forecast, borrowing was set to fall more over this Parliament than in any other G7 economy. We are now borrowing below the G7 average, something that was not...

I am grateful to the noble Lord for his question. We are repairing the public finances. At the time of the spring forecast, borrowing was set to fall more over this Parliament than in any other G7 economy. We are now borrowing below the G7 average, something that was not...

My Lords, returning to defence spending, the Minister referred to the biggest sustained increase in that spending. If it happens, we will welcome

it, but it does not happen until the defence investment plan is published. I noted the slight smile on his face when he said, “in due course”,...

My Lords, returning to defence spending, the Minister referred to the biggest sustained increase in that spending. If it happens, we will welcome

it, but it does not happen until the defence investment plan is published. I noted the slight smile on his face when he said, “in due course”,...