Economic Situation

Treasury written question – answered on 15th March 2022.

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Photo of Angela Eagle Angela Eagle Labour, Wallasey

What recent assessment he has made of the strength of the UK economy.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Last year we saw a faster-than-previously-expected economic recovery, with the fastest growth in the G7.

However, the conflict in Ukraine has affected the global economy. The government is closely monitoring developments and the channels which may impact the UK economy. The precise impacts will depend on the size and persistence of any shocks to trade, financial markets, and energy markets, which are highly uncertain.

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