Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of tariffs placed on the UK’s trade with European countries on the UK's inflation rate.

Since mid-2021, UK inflation has been pushed higher by global pressures, such as supply chain disruptions from Covid-19 and Putin’s illegal invasion of Ukraine.

These pressures have in turn made it challenging to disaggregate the impact of EU Exit on the UK economy and households from these global pressures. In our view, there is not yet sufficient evidence to decisively conclude the wider impacts of EU Exit, including on inflation.