Prime Minister 's opening statement at his G20
press conference in Indonesia.
"Yesterday at the G20, my fellow leaders and I directly
confronted the Russian Foreign Minister with the illegality and
brutality of his country’s war in Ukraine.
Barely twelve hours later, more than 80 Russian missiles rained
down on western Ukraine, killing civilians and destroying
civilian infrastructure.
While other world leaders were working together to tackle the
greatest challenges our people face, Putin was launching
indiscriminate attacks on civilians in Ukraine.
In the wake of these attacks today we held an urgent meeting of
G7 and NATO leaders to underscore our solidarity with Poland and
Indonesia.
I also spoke to Polish President Duda this morning to offer my
wholehearted support and assurance that the UK stands steadfastly
behind him and his people at this worrying time.
We should all be clear – none of this would be happening if it
weren’t for Russia’s invasion of Ukraine.
This is the cruel and unrelenting reality of Putin’s war.
As long as it goes on it poses a threat to our security and that
of our allies.
And as long as it goes on, it will continue to devastate the
global economy.
Two-thirds of G20 members are currently experiencing inflation
rates over 7% and the IMF predicts a third of the world’s economy
will be in recession this year or next.
At a time when countries are tentatively emerging from the
ravages of the Covid-19 pandemic, households across the world
have been hit by punishing price rises and are facing an
uncertain future.
When the G20 was established, it was with the acknowledgement
that economic shocks are inherently global.
Responding to them requires coordination and cooperation between
the world’s largest economies.
We have come together over the years, despite our political
differences, in recognition of the economic importance of this
forum.
But this year in particular – as last night’s events laid bare –
the challenges we face are utterly political.
The persistent threat to our security and global economic
asphyxiation has been driven by the actions of the one man
unwilling to be at this summit – Vladimir Putin.
There is not a single person in the world who hasn’t felt the
impact of Putin’s war.
Global food markets have been severely disrupted by his attempts
to choke off Ukrainian grain supply…
there has been an eightfold increase in global energy prices
thanks to Russia turning off their gas taps…
and the economic aftershocks of Putin’s casual disregard for
human life will ripple around the world for years to come.
But in Indonesia this week the rest of the G20 have refused to
let Russia’s grandstanding and hollow excuse-making undermine
this important opportunity to make life easier for our people.
Economic stability and confidence are at the heart of the
government’s agenda.
That means being a constructive and reliable member to the
international community, using our influence to keep global
prices down and create the conditions that will help the UK – and
other global economies – return to growth.
At this summit G20 partners have come together to strengthen our
international economic foundations, making ambitious commitments
to
help the most vulnerable,
reduce global reliance on Russian fossil fuels in favour of
greener, more secure alternatives,
and drive a better future where no country has the power to
devastate the global economy.
I’d like to thank the Indonesian President Jokowi for the role he
has played in hosting these discussions and leading the G20 at
this challenging time.
Tomorrow, the Chancellor will build on these international
foundations when he makes the Autumn Statement, outlining his
plan to get the country on a positive trajectory, put the public
finances on the right footing and get debt falling.
By promoting free markets, forging strong international
relationships, and prioritising our stability and security, we
will build a global platform for the United Kingdom to thrive –
giving the people of our country the certainty that they need."
