00:00But I would say, I think as the Office of Budget Responsibility said yesterday to your
00:06committee, that it is too soon to be able to tell what the impact of this is.
00:13As a government and in my role as Chancellor, we are working hard to de-escalate the conflict
00:19because the best chance of having a minimal economic impact is to de-escalate the conflict
00:27and to see vessels moving again through the Strait of Hormuz.