Context
The question stems from concerns about rising costs since the UK left the EU, affecting constituents' daily expenses and wellbeing.
Question
What recent assessment has his Department made of the impact on the cost of living of the UK having left the EU? The MP notes that many constituents are worried about rising prices and seeks an official evaluation of how Brexit has affected their finances.
Answer from Jacob Rees-Mogg
Her Majesty's Government understands rising price concerns and recently announced over £15 billion in additional support, targeting those most in need. This brings total support for this year to over £37 billion. However, it is challenging to isolate Brexit's effects on the UK economy, as other factors like food inflation in Germany and supply chain issues post-pandemic also influence prices. The government will push forward with the Brexit freedoms Bill and Procurement Bill to foster growth from leaving the EU.
Not addressed: The specific financial impact of Brexit on the cost of living was not directly assessed, focusing instead on broader economic factors and future initiatives.
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