Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of establishing a mechanism to monitor the potential impact of (a) corporate profit levels and (b) dividend and buyback payments on inflation

UK inflation has been affected by global factors, including Russia’s invasion of Ukraine affecting energy and food prices. The UK is not alone in facing these challenges, advanced economies across the world are feeling the impact of inflation.

That is why halving inflation is one of the Prime Minister’s top priorities. Evidence that corporate profits play a role is inconclusive. The independent Competition and Markets Authority have authority to intervene if they find evidence of anti-competitive conduct or competition law is breached.