Prime Minister promises return to a strong and healthy UK economy

The Prime Minister will tell the British public that he stands firmly with them as he reaffirms his commitment to supporting them through this difficult time.

In a speech in Lancashire today [Thursday 9 June]it will present a clear vision to continue to fight the rising cost of living, while carrying out the government’s overarching mission to unite and level the country,

The fallout from the pandemic and the shock of Putin’s aggression in Ukraine has caused global pressure on prices, leaving many facing rising costs in their daily lives.

He will promise further reforms in the coming weeks to make people’s lives easier, boost UK productivity and increase growth – so the country can emerge from its current challenges with a strong and healthy economy.

Recognizing that owning a home gives people refuge and security in their most difficult times, he will announce new measures that will help more people get on the homeownership ladder.

The government has pledged to reverse the decline in homeownership rates, which saw the proportion of 25-34 year olds owning their own home fall from 55% to 34% between 1996 and 2016.

Currently, too many people are spending huge sums of money on the private rental market when that money could be better spent investing in their future, in the form of mortgage payments on their own home.

The Prime Minister will confirm his ambition to give more people the opportunity to own a home by helping those in a position to buy to access the mortgage finance they need, ensuring that people are incentivized to saving for a deposit, regardless of their financial situation, and improving the supply of housing across the country.

In a speech, the Prime Minister will say:

We have the tools we need to deal with rising prices.

Global headwinds are strong. But our engines are more powerful.

And while it won’t be quick or easy, you can be sure things will get better, that we’ll come out of this a strong country with a healthy economy.

It will add:

Over the next few weeks, the government will introduce reforms to help people cut costs across all areas of household spending, from food and energy to childcare, transport and housing .

As we continue to deal with the aftershocks of covid and the inflationary impact of the war in Ukraine, our strategy is clear.

We will continue to use our fiscal firepower to help the country through difficult times – and to focus our aid where we should, on those who need it most.

We will continue the agenda on which this government was elected, to unite and scale up across the country, boosting UK productivity with generational investments in infrastructure, skills and technology.

We will continue to support the NHS and clear the covid backlog, and fund all other vital public services.

At the same time, we will use this moment to accelerate the reforming mission of government, to reduce the costs that government imposes on businesses and citizens across the country.

With more affordable energy, childcare, transport and housing, we will protect households, boost productivity and above all increase the UK’s growth rate.

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Edward L. Robinett