Working people are anxious - my job is to act, writes Chancellor Rachel Reeves

For millions of people, the cost of everyday essentials isn’t just something to be debated over – it’s a very real issue.

I understand that families will be wondering what the conflict in the Middle East will mean for their energy bills, the weekly shop, or filling up at the petrol station.

As your Chancellor I will be honest about those uncertainties, and act to ensure working people aren’t left carrying the cost.

It’s not a war we started, and it’s not one that we’ve joined. But in a global economy, that instability cannot stay contained there.

When shipping lanes are disrupted or energy infrastructure is attacked, there are knock‑on effects that can reach our shores and show up in people’s bills.

But I can be clear about what this government is doing to ensure working people are protected — and what people will see happening now, not months down the line.

Already fuel duty is frozen until the autumn and we’re providing over £50 million to help people who rely on heating oil. And this week, because of the actions of this government, costs are coming down for working people.

Households will begin seeing an average of £117 off their energy bills - that’s real money back in people’s pockets.

We are raising the State Pension by up to £575 this year, so that pensioners have the extra security they need at a time when every pound matters.

We’ve frozen commuter train fares for the first time in thirty years, easing pressure on the millions across the country who rely on public transport to get to work.

And the National Living Wage is rising again, meaning millions of working people will take home more pay - money that gets spent in their local shops and communities.

But I know that for many LBC listeners, reassurance won’t be enough. People want to know that when prices rise unfairly, the government will step in to act for them.

So let me be clear: I will not stand by if companies use this global uncertainty as cover to hike their prices.

That’s why I’m in regular contact with petrol retailers to ensure they keep prices at the pump fair.

The truth is that this global uncertainty will not disappear overnight. But working people deserve a government that acts for them - not shrugs its shoulders.

Bills are coming down, wages are going up, and I will keep taking decisions in the national interest — so families aren’t left to face these challenges alone.

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Rachel Reeves is Chancellor of the Exchequer and MP for Leeds West and Pudsey.

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