There will be “a fair amount of Christmas presents available” this year despite the supply chain issues, said Rishi Sunak.
The Chancellor was speaking after meeting with finance ministers from the G7 group of the world’s major economies to discuss the issue, with politicians agreeing to work more closely to resolve the crisis.
Retailers have expressed fears that lingering supply chain problems could lead to higher prices and empty shelves until December, but the UK Major Ports Group chief executive said supply chains were “robust” and “there is no need to panic”.
A build-up of cargo at Felixstowe led the Maersk shipping company to choose to divert ships from the port of Suffolk, while similar traffic jams were seen elsewhere in the world, including the United States.
Speaking to the BBC in Washington DC, Mr Sunak sought to reassure Britons as people start to think about shopping for Christmas.
He said: âWe are doing absolutely everything we can to alleviate some of these challenges.
âThey are global in nature, so we cannot solve all the problems, but I have no doubts that there will be a good supply of goods for everyone.
“I have no doubts that there will be a fair amount of Christmas presents available for everyone to buy.”
Sunak chaired a finance ministers’ meeting on Wednesday as the International Monetary Fund and the World Bank meet in the US capital.
The Treasury said Mr. Sunak told the meeting “the importance of global cooperation to ensure that supply chains are more resilient as the world emerges from the pandemic.”
Speaking after the meeting, Mr. Sunak said, âSupply chain issues are felt globally – and financial leaders around the world must work together to address our common challenges.
“Today, we collectively agreed to work closely together over the next few months – and together, we will build a strong and resilient recovery.”