Thank you, Dirprwy Lywydd. I'd like to start by thanking the committee again for their work in preparing this report, which has led to the debate. We are all very well aware of the cost-of-living crisis. It is being fuelled by a range of factors. But of course, the headline inflation rate today is partly driven by energy, but of course, as I mentioned earlier, the headline rate of food inflation far outstrips the headline rate of 11.1 per cent, with more than 16 per cent in the inflation of food.

The undeniable truth is that choices made by successive UK Conservative Governments have contributed to where we are: the first period of austerity, the reductions in benefits—they've helped to create conditions that have added to very real pressures on household budgets, even before the Truss-Kwarteng regime and its brief-lived but disastrous impact on public finance, and the very real effect that that has had for families. As Sarah Murphy noted, the Office for Budget Responsibility assessment is that the next financial year will see the biggest fall in living standards across the UK since records began.