It is a pleasure to serve under the chairmanship, Ms Fovargue. The minister apologises for being briefly delayed by voting proceedings but extends congratulations to Jessica Morden on securing this debate. Acknowledging the cost of living crisis as a global phenomenon driven by factors such as increased demand and supply constraints post-covid, the minister highlights significant support provided during the pandemic including 475,000 Welsh jobs protected through furlough schemes, billions in government loans to Welsh firms, and an additional £3.8 billion of Barnett-based funding to the Welsh Government. The council tax rebate is a recognised measure with funds expected to be supplied as per the Barnett formula. Emphasising the impact of global economic challenges, the minister outlines efforts like increasing the national living wage by 6.6% and raising personal allowances for income tax, while freezing alcohol and fuel duties despite rising costs. The universal credit taper rate is reduced from 63% to 55%, and work allowances are increased by £500 annually, benefiting over a million households on average with an extra £1,000 per year. The minister discusses the global nature of energy price increases, citing the UK's minimal dependency on Russian gas (only about 2%) and reliance mainly on Norwegian imports. He highlights efforts in renewables and nuclear power, noting the transition to low-carbon sources generally incurs higher costs compared to traditional carbon-based fuels. The debate concludes with recognition that while many companies offered fixed prices pre-crisis, significant price quadrupling was unforeseen.