Chancellor Rishi Sunak stated there is no "magic wand" that will make fuel and food supply disruptions disappear overnight.
Rishi said supply issues were global, and that ministers were doing everything possible to alleviate them.
Sunak mentioned “pragmatic controlled immigration” could be part of the short-term solution.
Sunak’s statements come amidst rising food and energy prices, universal credit benefit cuts, increasing taxes to fund the NHS and social care, and the ongoing lorry driver shortage.
According to Sunak, supply-chain “challenges” are not exclusive to the UK, but rather a global issue stemming from lockdowns and the rapid re-opening of economies. "The government is doing all we can to mitigate the bits that we can," Sunak said.
"There are things we can and should do, and it's acceptable for people to expect us to do what we can," he continued.
"Whether it's short-term visas or increasing testing capacity for HGV drivers, we should and are doing all of those things, but we can't wave a magic wand and make global supply chain difficulties go away overnight."
However, he stated the issues "we are currently seeing will be transitory and will pass through the system."
“Our public finances must be fixed. I favour tax cuts, but in order to do so, we need to get our public finances back on track. We are currently confronted with supply chain difficulties, and we are committed to dealing with them straight on. The UK unemployment rate at less than 5% and dropping. Job-support initiatives will be extended into the following year,” Sunak said.