Cost of Living Increase: Impact on Households

Part of Treasury – in the House of Commons on 15th March 2022.

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Photo of Rishi Sunak Rishi Sunak The Chancellor of the Exchequer

I am grateful to my right hon. Friend for his typically thoughtful question. He is absolutely right about the circumstances we face. The data this morning shows record numbers of people on payroll, and that is to be welcomed. Indeed, the unemployment rate is now back to the levels we saw before the pandemic, thanks to our plan for jobs. There are record vacancies, and we want to get people into work. The best way to do that is to give them the skills they need and cut taxes to increase incentives. That is exactly what this Government are doing, and I expect us to make more progress in the months ahead.