PARLIAMENTARY WRITTEN QUESTION
Public Finance and Taxation (11 October 2022)
Question Asked
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential effect of the Government's Growth Plan 2022 on the rate of inflation.
Asked by:
Christine Jardine (Liberal Democrat)
Asked by:
Christine Jardine (Liberal Democrat)
Answer
The Government’s Energy Price Guarantee will limit average household energy bills to £2,500. External forecasts expect this intervention to reduce inflation by around 5 percentage points this winter.
The Government’s Growth Plan will enhance UK competitiveness and lead to greater opportunities. By targeting 2.5% trend growth, the Growth Plan will ensure sustainable improvements in living standards.
The Office for Budget Responsibility is the government’s official forecaster and will publish its next forecast on the economy, including for inflation, on the 31st October.
Answered by:
Felicity Buchan (Conservative)
11 October 2022
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