We are working to provide the security Britain needs to thrive

Last week we witnessed the uncertainty of a changing world. Financial markets and nation states responding to the dawn of a new economic era and the reality of new barriers to trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

- Rachel Reeves

This change can be unsettling for families who are worried about the cost of living and businesses concerned about what it means for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people's security. Instead, we must rise to meet the moment and do what is right in Britain's national interest.

For too long the global economy has not worked for working people. Industries have been allowed to decline or to disappear. The cost of living crisis has exposed our vulnerability to the actions of Vladimir Putin, who has used energy prices as a weapon of war. And economic mismanagement has left countries more exposed to global shocks.

Insecurity has become a virus plaguing our economies, with an endemic of low pay, poor working conditions and inactivity. And Britain has not been alone in this. That's why our response must be guided by our national interest and security for working people.