The Prime Minister will tell the British public he is firmly on
their side as he reaffirms his commitment to supporting them
throughout this challenging period.
In a speech in Lancashire today [Thursday 9 June], he will set
out a clear vision to continue to tackle the rising cost of
living, while delivering on the government’s overriding mission
to unite and level up the country,
The fallout from the pandemic and the shock of Putin’s aggression
in Ukraine has caused global pressure on prices, leaving many
people facing rising costs in their daily lives.
He will pledge further reforms in the coming weeks to make
people’s lives easier, boost UK productivity and increase growth
– so the country can emerge from its current challenges with a
strong and healthy economy.
In recognition that owning a home provides people with sanctuary
and security in the most challenging of times, he will announce
new measures that will support more people to get onto the
property ladder.
The government is committed to reversing declining home ownership
rates, which have seen the proportion of 25–34-year-olds who own
their own home fall from 55% to 34% between 1996 and 2016.
Currently, too many people are spending huge sums of money in the
private rental market when that money could be better spent on
investing in their futures, in the form of mortgage payments on
their own home.
The Prime Minister will confirm his ambition to unlock the
opportunity of home ownership for more people through helping
those in a position to buy, to access the mortgage finance they
need, ensuring people are incentivised to save for a deposit no
matter their financial situation, and improving the supply of
housing across the country.
In a speech, the Prime Minister will say:
“We have the tools we need to get on top of rising prices.
“The global headwinds are strong. But our engines are stronger.
“And, while it’s not going to be quick or easy, you can be
confident that things will get better, that we will emerge from
this a strong country with a healthy economy.”
He will add:
“Over the next few weeks, the government will be setting out
reforms to help people cut costs in every area of household
expenditure, from food to energy to childcare to transport and
housing.
“As we continue to deal with the covid aftershocks, and the
inflationary impact of the war in Ukraine, our strategy is clear.
“We will continue to use our fiscal firepower to help the country
through tough times – and concentrating our help where we should,
on those who need it most.
“We will continue with the agenda on which this government was
elected, to unite and level up across the country, building the
productivity of the UK with generational investments in
infrastructure, skills and technology.
“We will continue to support the NHS and to clear the covid
backlogs, and to fund all other vital public services.
“At the same time we will use this moment to accelerate the
reforming mission of the government, to cut the costs that
government imposes on businesses and people up and down the
country.
“With more affordable energy, childcare, transport, and housing
we will protect households, boost productivity and above all
increase the rate of growth of the UK.”
