00:00People can see prices rising, they see it at the pumps, they see it in their bills,
00:05they see it with monthly mortgage costs and they can see it's driven by the conflict in the Middle East.
00:11We're not alone in this. Last week I was with international finance ministers and every country around the world
00:16is suffering from the impact of the Iran war and trade barriers and restrictions that mean that energy flows aren't
00:24getting out.
00:24I'm really conscious of these costs. We're a week away from the budget.
00:30And I think if people look at what we did in this first week of the government, you know, two
00:33pound cap on bus fares,
00:35we cut VAT off electricity bills, we reduce business rates for pubs, clubs and venues.
00:41And I will look to do more as I can to give a bit of breathing space on the costs
00:47of living and the costs of business at the budget.
