good morning and a very warm welcome to our viewers watching around the world and here at home. pippa, you and i have done a lot of these conferences, big get togethers. this is pretty unusual, isn t it, to start against this backdrop? in unusual, isn t it, to start against this backdrop? this backdrop? in 20 years of coverin: this backdrop? in 20 years of covering politics this backdrop? in 20 years of covering politics and - this backdrop? in 20 years of covering politics and coming| this backdrop? in 20 years of. covering politics and coming to these annual events i ve never been in a situation like this, never seen a situation like this. there is so much liz truss needs to do. she needs to convince her veryjittery party, her members who backed her during the contest and mp5, that she understands their concerns but much more importantly she needs to talk beyond them to the public, who are incredibly anxious about the prospect of mortgage rates going up, their energy bil
worth noting that in the package we announced the vast majority of that package is the energy package. taste package is the energy package. we have talked about that, but i want to talk about. the have talked about that, but i want to talk about. . . to talk about. the 45p rate actually raises to talk about. the 45p rate actually raises very - to talk about. the 45p rate actually raises very little i to talk about. the 45p rate actually raises very little and makes the tax system more complicated. we need to move away from the idea that everything is about how we redistribute resources. we also need to make sure that we have a tax system that is competitive internationally and is helping us bring in the investment and get people into work. you have said getting and get people into work. you have said getting the and get people into work. you have said getting the economy and get people into work. you have said getting the economy going i and get people into work. you have said
always make sure, laura, that we protect the make. what about pensions, will they go up in line make. what about pensions, will they go up in line with make. what about pensions, will they go up in line with inflation? make. what about pensions, will they go up in line with inflation? i - make. what about pensions, will they go up in line with inflation? i have i go up in line with inflation? i have committed go up in line with inflation? i have committed to go up in line with inflation? i have committed to the go up in line with inflation? i have committed to the triple go up in line with inflation? i have committed to the triple lock. i go up in line with inflation? i have committed to the triple lock. thatj committed to the triple lock. that means pensions committed to the triple lock. that means pensions will committed to the triple lock. that means pensions will rise in lock step with inflation. taste means pensions will rise in lock step with inflation. means p
serious economic slowdown that would have real difficulties for people, now i did want to answer your question that you asked me about. a direct impact. the question that you asked me about. a direct impact. . . question that you asked me about. a direct impact. . . a direct impact. the issues we ve seen this week a direct impact. the issues we ve seen this week so a direct impact. the issues we ve seen this week so i a direct impact. the issues we ve seen this week so i am a direct impact. the issues we ve seen this week so i am afraid - a direct impact. the issues we ve seen this week so i am afraid there is an issue that interest rates are going up around the world and we do have to face that and we do have to, but i do want to say to people, i understand their worries about what has happened this week and i do, i do stand by the package we announced and i stand by the fact that we announce it quickly because we had to act, but i do accept we should have laid the ground be
departments so they can cope with inflation at different levels because they are dealing with a real terms cut. , , , ., . terms cut. this is why our package is so important terms cut. this is why our package is so important because terms cut. this is why our package is so important because the i terms cut. this is why our package | is so important because the energy announcement we made is estimated to reduce inflation by up to 5%. in the short-term. reduce inflation by up to 5%. in the short-term, that reduce inflation by up to 5%. in the short-term, that might reduce inflation by up to 5%. in the short-term, that might not - reduce inflation by up to 5%. in thej short-term, that might not happen reduce inflation by up to 5%. in the short term, that might not happen in the long term and some economists have questioned that. you can t be sure of that long term. taste have questioned that. you can t be sure of that long term. sure of that long term. we expect inflation to