Conservative and Green MPs have heavily criticised the chancellor’s plans for energy bills support amid the Iran war.
Gavin Williamson dubbed Rachel Reeves’ failure to announce any energy support for households "pathetic" and a "total waste of time".
He wrote on social media: “Is this real that @RachelReevesMP has come to the house to ask for a report? People expected action or an announcement but this is just pathetic.
“This is a joke and a total waste of time.”
Zack Polanski dismissed the statement as "unbelievably weak", arguing it shows the chancellor does "not understand the scale of the cost of living crisis about to his this country".
Ms Reeves said the economic challenges from the Iran war may be "significant" as she shared that contingency planning was under way for energy bill support "for those who need it most".
She told the Commons: "I can confirm to the House that contingency planning is taking place for every eventuality so that we can keep costs down for everyone and provide support for those who need it most, acting within our ironclad fiscal rules to keep inflation and interest rates as low as possible."
Reeves to unveil action to protect UK from ‘unfair prices rises’ after crisis meeting over Iran war
Britain’s most vulnerable must be protected from the soaring cost of the Iran crisis
Markets bet on three interest rate hikes as Iran stance threatens inflation shock for UK
Reeves warned not to raise taxes to protect UK from Iran war economic shock
Key Points
- Tory MP slams Reeves' statement as 'total waste of time'
- UK not suffering fuel shortage, says energy minister
- Global turmoil will see Lib Dems scale back political stunts
- Angela Rayner tells Starmer to 'pick more fights'
- ‘Nothing is off the table’ when it comes to energy bills support, minister says
Shadow chancellor says UK economy 'in tatters'
14:40 , Maryam Zakir-HussainShadow chancellor Sir Mel Stride has said the UK economy is "in tatters" and that chancellor Rachel Reeves has brought it "one step from its knees".
Sir Mel told MPs: "Under this government, we are getting poorer and our economy is increasingly fragile and far from secure and resilient."
He added: "Nothing exemplifies this government's economic folly more than its approach to oil and gas. The utterly misguided net zero obsessions of the Energy Secretary have led to the absurdity of reduced extraction, whilst we see jobs destroyed, tax revenues foregone, and energy security smashed."
He claimed that the North Sea has "fields ready to go" that could supply energy to millions, but that the Chancellor has "nothing to say on the matter".
"Less oil and gas extraction means greater dependency and less security. This road leads to ruin," Sir Mel said.
The shadow chancellor concluded: "On energy, on the cost of living, on jobs, on growth, on public finances, on every measure that matters, this Chancellor has left us weak, weak, weak. And in the face of this energy shock, there are millions who are about to suffer as a result."
Lib Dem MPs have had enough of Ed Davey’s stunts
14:20 , Maryam Zakir-HussainPolitics editor David Maddox reports:
The bake-off stunt by Lib Dem leader Ed Davey to launch his party’s local elections campaign has provoked a furious reaction from his own MPs.
After multiple stunts since the last general election including falling into water, it turns out Lib Dem MPs are worried that it is preventing voters from seeing them as a serious party.
After this morning’s stunt, a senior Lib Dem MP messaged: “I have just seen the baking story from yesterday. I cannot believe that is what we are saying to people. The world is burning and we are baking. It's embarrassing.
“We - the parliamentary party - have been almost pleading with him to stop the stunts. We look like affluent middle class idiots who don't take people’s problems seriously.”
Millions will get no help on fuel bills, Reeves indicates
14:00 , Maryam Zakir-HussainOur Whitehall editor Kate Devlin reports:
Millions of households will get no help to pay fuel bills which have risen because of the Iran war, Rachel Reeves has indicated, after criticising the last Conservative government for providing “blanket” support she said cost the country £78bn.
Ms Reeves said the Treasury was carrying out work “to ensure that we will be able to target support to those who need it most”.
But she suggested it would not be in place for months, pointing to the current energy price cap lasts until the summer and telling MPs that the vast majority of energy use happens during the autumn and winter months.
Reeves says shadow chancellor 'out of his depth'
13:45 , Maryam Zakir-HussainRachel Reeves said shadow chancellor Sir Mel Stride's speech in the Commons on the cost-of-living shows that he is "utterly out of his depth".
Comparing the economy under the last Conservative government with the economy under Labour, Ms Reeves said: "I prefer my record to their record any day of the week."
Asked about the Government's Fuel Finder tool, she told MPs that more than 90% of retailers have signed up to it and all update their prices regularly.
She said: "We, along with the Competition and Markets Authority, are chasing down the final few that haven't submitted their prices."
Ms Reeves added: "It is only Labour that can be responsive to the immediate challenges, because we have been responsible with the public finances, committed to our long-term energy security and committed to make the right decisions in the national interest."
Lib Dems urge chancellor to remove VAT on heating oil and LPG
13:27 , Maryam Zakir-HussainThe Liberal Democrats have urged the Chancellor to remove VAT on heating oil and liquefied petroleum gas (LPG).
In the Commons, the party's Treasury spokeswoman Daisy Cooper said: "Families are fearful, will the Chancellor consider zero-rating VAT on heating oil and LPG (liquefied petroleum gas)?
"Will she consider introducing a price cap mechanism for off-grid fuels? Will she commit to halving energy bills over the next decade by reforming pricing structures?
"And if bills rise to more than £400 a year, as some are warning, will the Chancellor commit to coming back to this House and outlining a broader support package so that all struggling households, or many struggling households, don't face a crippling hit of that scale?"
Rachel Reeves replied: "When they were in government, they increased VAT on everything, so it's a bit rich to say that they want to cut it now."
"There seems to be a sort of slight contradiction in what (Ms Cooper) is saying between whether she wants targeted support or blanket support.
"And I would argue that the progressive, universal approach that we're taking is the right one - £150 off everyone's energy bills, but then targeted support for those who need it most," she added
Zack Polanski dismisses Reeves' statement as 'unbelievably weak'
13:11 , Maryam Zakir-HussainZack Polanski has dismissed Rachel Reeves' statement to the Commons as "unbelievably weak", arguing it shows the chancellor does "not understand the scale of the cost of living crisis about to his this country".
The Green Party leader said: "This is an unbelievably weak response from the chancellor to the enormous bill hikes facing households in the UK.
"Monitoring the situation? Considering new powers? Reeves's lukewarm words show that she and her government simply do not understand the scale of the cost of living crisis about to hit this country.
“We need a guarantee that energy bills will not rise past June, funded by a strengthened windfall tax and higher taxes on extreme wealth. And the government should follow the example set by Spain in taking immediate action to reduce the burden on households by freezing rents."
Tory MP slams Reeves' statement as 'total waste of time'
13:00 , Maryam Zakir-HussainPolitical correspondent Millie Cooke reports:
Gavin Williamson has hit out at Rachel Reeves in the wake of her statement to the Commons, dubbing her failure to announce any energy support for households "pathetic" and a "total waste of time".
In the wake of an emergency Cobra meeting on Monday, there was a growing expectation that the chancellor was going to set out a plan to deal with a potential economic shock from the war in the Middle East.
But instead, the chancellor simply recycled policies that had already been announced and indicated that she won't announce any relief for household energy bills for another month.
Posting to social media in the wake of the statement, Tory MP and former defence secretary Gavin Williamson said: "Is this real that [Rachel Reeves] has come to the house to ask for a report?
"People expected action or an announcement but this is just pathetic. This is a joke and a total waste of time."
Analysis: Rachel Reeves just took 15 minutes to announce nothing
12:57 , Maryam Zakir-HussainOur politics editor David Maddox reports:
This was a make or break statement for Rachel Reeves as chancellor with the country being dragged into a Middle East war of Donald Trump’s making and the economic figures all going wrong for this government.
Interest rates are no longer going down, inflation and unemployment were already going up, and growth is going down.
But after a big billing last night with the COBRA emergency meeting there were expectations that the chancellor would come to the Commons with a plan to deal with a potential economic shock.
What we heard instead was Ms Reeves trotting out a series of previously announced policies - somehow sidetracking to two child benefit and nursery funding when concerns are on energy and fuel - but literally no new plans to deal with a spike in prices.
No wonder the silence in the Commons was deafening to the announcement of nothing which took the chancellor 15 minutes to read out.
There was no movement on fuel duty, nothing on further support for energy prices, no extra defence spending, nothing on extracting oil and gas from the North Sea.
All there was in the statement was a promise to look at fuel prices again in the next month.
This statement may be the epitaph to Ms Reeves’ troubled reign as chancellor if she is moved on in the coming weeks.
Government is encouraging investments in tiebacks
12:54 , Maryam Zakir-HussainThe government is encouraging investment in tiebacks, Chancellor Rachel Reeves said, as she told MPs the oil and gas industry should "play a role in our energy system for decades to come".
In a statement to the Commons, she said: "I have announced that we will explore a new defence financing and procurement mechanism with the Netherlands, Finland and other EU and Nato partners.
"I welcome the IEA (International Energy Agency) decision to authorise a co-ordinated release of our collective oil reserves to alleviate the immediate pressure on supply, and the UK has now begun the release of our share of 13-and-a -half million barrels of oil."
Ms Reeves said "through determined action this government is taking control of our own energy supply, investing in renewables, lifting the ban on onshore wind, and streamlining grid connections".
"We must guarantee our domestic oil and gas industry can also play a role in our energy system for decades to come. And so I can confirm that we are encouraging investment in tiebacks to make the most of our existing production facilities," she added.
Nuclear energy regulation legislation will be set out after the next King's Speech
12:53 , Maryam Zakir-HussainLegislation responding to a review of nuclear energy regulation will be laid after the next King's Speech, the chancellor has said.
Rachel Reeves told the Commons: "I can announce today that we will legislate to implement the (John) Fingleton Review in the next parliamentary session.
"And I recently wrote to industry and regulators to get them to set out their plans to fast-track that implementation in full.
"To the parties opposite who like to talk big about energy security but then vote against the very infrastructure to build it, let me say this: 'it is time to put our country first'.
"And I can confirm today that we are developing options to back critical energy projects with indemnities if their planning consent is challenged, so that we don't waste a single moment in protecting our energy security, because energy security is national security."
Tory attacks Reeves's statement as a "joke"
12:49 , Maryam Zakir-HussainConservative MP Sir Gavin Williamson has attacked the chancellor’s statement as a “joke”.
He wrote on social media: “Is this real that @RachelReevesMP has come to the house to ask for a report? People expected action or an announcement but this is just pathetic.
“This is a joke and a total waste of time.”
Is this real that @RachelReevesMP has come to the house to ask for a report?
— Sir Gavin Williamson CBE MP (@GavinWilliamson) March 24, 2026
People expected action or an announcement but this is just pathetic.
This is a joke and a total waste of time.
Reeves indicates she won't announce energy bill relief for another month
12:45 , Maryam Zakir-HussainPolitical correspondent Millie Cooke reports:
Rachel Reeves has indicated that she won't announce any relief for household energy bills for another month, with today's announcement instead focusing on extra powers to crack down on "price gouging" by fuel providers.
Giving a long awaited statement to the Commons, which was primarily filled with recycled policies that had already been announced, the chancellor said: "I will update on fuel pricing within the next month".
In the meantime, she said ministers will go "further to make sure that the Competitions and Markets Authority have the powers that they need to detect and crack down on price gouging, bringing in a new anti-profiteering framework."
She added: "This week, the business secretary and I will convene the Regulators' Council to discuss their work to protect consumers. This government will not tolerate any companies exploiting this crisis at consumers expense."
Chancellor lists how government has been helping households
12:40 , Maryam Zakir-Hussain“It is time to put our country first,” Rachel Reeves has said.
The chancellor said: “I know when prices rise and incomes are squeezed, people look to the government and ask, ‘What are you doing to help.’
“We have funded 30-hour free childacre to parents, wages rising faster every month since I’ve been chancellor, and free breakfast clubs rolled out in primary schools.”
Rachel Reeves has stood in the Commons to unveil her plans to tackle price hikes amid the Iran war.
Stay tuned while we give you live updates.
How Farage and Cameo showed British politics is up for sale
12:00 , Maryam Zakir-HussainFrom personalised videos to crypto ventures, the UK’s politicians are increasingly turning influence into income – and blurring the line between public service and private gain, says Cleo Watson:
It is with great sorrow that Reform UK has announced a pause in its leader Nigel Farage’s blossoming Cameo career, citing “security reasons”.
For those unaware of the platform, Cameo allows celebrities, politicians and sportspeople to make personalised videos for fans for a fee. Cameo was brought to my attention last month, when a friend spotted disgraced former MasterChef host Gregg Wallace hawking Valentine’s messages. I honestly can’t think of anything less likely to get me in the mood for love than a message from that creepy scrotum, but I’m reliably informed there’s something for everyone on the site.
Banedoch says government should 'scrap taxes on energy bills'
11:45 , Maryam Zakir-HussainKemi Badenoch said scrapping taxes on energy bills would be "much better" than offering targeted support to protect against an expected hike in costs.
Asked whether targeted support would be fair, the Tory leader told the Press Association: "Well, what we see with targeted support is taxes on other people to pay for support to others. This is Labour's playbook.
"They keep raising taxes on everyone else to give benefits. There is a much better thing that they could do, which is to scrap the taxes on household energy bills.
"These are the green taxes which Ed Miliband put on all our energy bills, both households and business and industry."
She added: "The other thing she could do is scrap her planned rise on fuel duty, which is coming in in a few months.
"It's completely crazy to be increasing fuel duty at this time, and let's drill our own oil and gas in the North Sea."
Police may use drones and live facial recognition to protect Jewish community after Golders Green attack
11:30 , Maryam Zakir-HussainPolice are considering using drones, live facial recognition and behavioural analysis specialists as they ramp up protection for Jewish communities in the wake of an antisemitic arson attack in London.
The head of counter terrorism policing, assistant commissioner Laurence Taylor, said there is already a “heightened security posture” from teams working with Jewish communities in Britain.
But he said officials are looking at what else they can do, including using drones and deploying ‘Project Servator’ officers, who are specially trained to spot signs that someone is conducting hostile reconnaissance or plotting a crime.
Our crime correspondent Amy-Clare Martin reports:
Police may use drones to protect Jewish community after Golders Green attack
Global turmoil will see Lib Dems scale back political stunts
11:18 , Maryam Zakir-HussainOur Whitehall editor Kate Devlin reports:
Lib Dem leader Ed Davey has become known in recent years for a series of stunts that have seen him do everything from fall into Lake Windermere from a paddleboard and even bungee jump.
But senior Lib Dem figures have told the Independent the party is scaling back such eye-catching moments in response to international events.
They “may not be the default any more”, a senior party source said.In a time of war, he added that people wanted less “frivolity” and a vision of stability from their political parties, as well as hope for the future.
But he added that it would not be the end of such stunts, joking that it might be impossible to “separate Ed from his bungee rope”, as Sir Ed used a Bake Off theme to launch the party’s local elections campaign today.
Minister slaps down suggestions that Labour should reverse Brexit
10:56 , Maryam Zakir-HussainThe business and trade secretary has slapped down suggestions that Labour should campaign to rejoin the European Union, arguing that Britain should not be “plunging ourselves into a very long, protracted debate” about undoing Brexit.
Peter Kyle appeared to bat away calls from senior Labour figures that the party should campaign to again seek membership of the trade bloc.
It comes after London mayor Sadiq Khan earlier this month argued his party should commit to rejoining the bloc in its next election manifesto, claiming that a return to the EU is “inevitable”.
Political correspondent Millie Cooke reports:
Minister slaps down suggestions that Labour should reverse Brexit
UK not suffering fuel shortage, says energy minister
10:46 , Maryam Zakir-HussainThe UK is not suffering from a fuel shortage, an energy minister has said, as public concern mounts over the fallout from the Iran war.
It comes as the International Energy Agency (IEA) advised motorists across the world to reduce their speed on highways, share rides and work from home when possible to reduce how much petrol or diesel they use.
However, Michael Shanks said British drivers “should do everything as absolutely normal because there is no shortage of fuel anywhere in the country at the moment”.
Speaking to Times Radio, he said: "We monitor this every single day, I look at the numbers personally. There's no issue at all with that."
Analysis: Reeves will have one eye on local elections as well as Middle East crisis
10:32 , Maryam Zakir-HussainOur politics editor David Maddox reports:
Since the Budget in November Keir Starmer’s government has been pinning its hopes of survival and a recovery in the polls on tackling cost of living issues rather than its original top mission of economic growth.
But Donald Trump’s war with Iran and its subsequent impact on oil and gas prices as well as energy costs in the round has made that political strategy all the more important.
With that in mind Rachel Reeves’s statement today is essential not only in providing a strategy of dealing with the impact of the Middle East crisis if it becomes protracted but also in continuing a political strategy on the cost of living which offers Sir Keir his one hope of survival in Downing Street.
The problem is that the measures already announced such as a cap on energy bills til the autumn are not really inspiring people and there is always the fear of the need of a bailout of the type which broke Liz Truss’s government.
There is not a huge expectation that Ms Reeves will have any eye opening announcements today but she may need them if she and the PM are to keep their jobs.
Few people were as close as myself and Starmer- Anas Sarwar
09:54 , Maryam Zakir-HussainFew people have had as close a relationship in politics as Anas Sarwar and Sir Keir Starmer, the Scottish Labour leader has said.
Mr Sarwar said there is "no doubt" his decision to call for the prime minister to resign hurt Sir Keir on a personal level, but admitted he also "found some personal pain and hurt" from doing so.
He said it is now "difficult" to maintain a good personal relationship with the PM.
He also suggested that questions from reporters on Peter Mandelson and Jeffrey Epstein helped changed his view on the matter.
Appearing on the BBC's Scotcast podcast, Mr Sarwar was asked about his relationship with Sir Keir.
He said: "I think there will be very few people in politics that had as close a relationship as I had with him, and so it was very personally difficult.
"I actually found the personal bit a bit more difficult than the politics of it, because as I say, I do genuinely like him as a human being. I do think he's a man of decency and integrity. I do think that he wants to work best for our country.
"But as I say, I'm the one that's got to face the electorate. I'm the one that's got to meet people at their eye, and I've got to tell them who I am."
Mr Sarwar said he would have loved to maintain a good personal relationship with the PM but "as you can imagine it's difficult", before adding it is "still professional".
Government unveils ‘game-changing’ payment law reforms in bid to protect small businesses
09:35 , Maryam Zakir-HussainThe government has unveiled what it describes as the toughest crackdown on late payments to small businesses in more than 25 years, pledging to protect firms from practices that force over 1,000 closures monthly and cost the UK economy an estimated £11 billion each year.
The reforms are set to create the strongest laws on late payments among G7 nations, ensuring that small businesses, including tradespeople, freelancers, and the self-employed, receive timely remuneration for their work.
Central to the new measures, which were initially outlined in a plan by Sir Keir Starmer last year, are enhanced powers for the Small Business Commissioner.
Government unveils ‘game-changing’ payment law reforms to protect small businesses
Watch: Starmer loses his cool with Tory MP in tense row over Iran conflict
09:20 , Maryam Zakir-Hussain
Starmer loses his cool with Tory MP in tense row over Iran conflict
Cost of living Q&A: Get tips on mortgages, bills, savings and tax changes from a personal finance expert
09:06 , Maryam Zakir-HussainWith the new tax year looming and the Iran war fuelling uncertainty over interest rates, energy costs and the wider cost of living, personal finance expert Gabriel Nussbaum is here to answer your questions – and show you how to make your money work harder.
Follow along at midday today:
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Cost of living Q&A: Get tips on mortgages, bills, savings and tax changes
Boost for Starmer as Labour has mini fightback in poll
08:47 , Maryam Zakir-HussainOur politics editor David Maddox reports:
Labour have moved back into second place in the latest YouGov poll in a rare boost for beleaguered prime minister Sir Keir Starmer.
However, the survey put Labour on just 19 per cent up two points from last week and still behind Reform UK who fell two points to 23 per cent.
Meanwhile, the Greens are in third, down one on 18 per cent, the Tories unchanged on 17 per cent and Lib Dems in fifth on 13 per cent, down one.
The results could see another bout of recriminations from Nigel Farage and Reform UK who have accused YouGov of manipulating their results to put them lower than other polls by about 4 per cent on average.
Last week there were exchanges between YouGov and Reform in what pollsters including Professor Sir John Curtice have noted is a wider decline for the party across all the polls.
Angela Rayner tells Starmer to 'pick more fights'
08:25 , Maryam Zakir-HussainPolitics reporter Athena Stavrou writes:
Angela Rayner has urged the prime minister to “pick more fights” to win back voters, as she issued fresh criticism of Sir Keir Starmer.
The former deputy prime minister, who has widely been seen as a potential successor to Sir Keir, warned voters are “impatient for change” in a speech at a fundraising dinner on Monday night.
Urging the government to take stronger action to fix systems voters feel are “rigged against them”, she said: “They feel that nobody understands and cares about the difficulties they go through. And this isn’t just people who you would naturally associate with struggling, naturally associate with poverty.
“But these are professional people, people that are working really hard, people that have got two, three jobs and they’re still not able to get to the end of the month with their wage packet.”
According to The Telegraph, she added: “And they need to know they’ve got a government on their side, and they’re impatient for change and I understand their impatience. So I think we have to pick more fights, personally.”
The intervention comes less than a week after she warned Labour was “running out of time” to deliver change and cannot “go through the motions in the face of decline”.
Iran uses proxies to make attacks abroad hard to detect, intelligence committee chair says
08:11 , Tara CobhamThe chair of Parliament’s Intelligence and Security Committee said the Iranian regime uses proxies for its attacks abroad to make it difficult for police to detect.
Labour peer Kevan Jones told BBC Radio 4’s Today programme: “In our report in 2025, we highlighted the Iranian regime, whether it be the IRGC (Iranian Revolutionary Guard Corps) or Iranian security services, do attack dissidents and target the Jewish community, and they do that increasingly, not directly, but through proxies.”
He agreed when asked if Iranian use of proxies makes it hard for police, adding: “Because what you are dealing with here is not necessarily just organised crime groups, but also people who are just paid.
“It is an approach which the Russians are using. For example, the attack last year on the warehouse in East London, many of those individuals who are not directly linked to any organised crime groups, are just paid money.”
He said: “It is quite clear the Iranians don’t care about what you call collateral damage if people were harmed. I would caution, though, with this attack, that the group that’s claimed credit for it, Ashab al-Yamin, is a new group. It only appeared in March. It’s claimed responsibility for attacks on Jewish schools in Amsterdam and Rotterdam, for example.”
The former MP for North Durham, now known as Lord Beamish, also highlighted the threat to the Jewish community from right-wing extremism.
He said: “The Jewish communities are increasingly under threat from homegrown, UK based right-wing groups as well.
“Whether it’s Iranian involvement, or whether it’s extreme right-wing terror, they just want to create confusion, mistrust and fear in the Jewish community, and ensure communities are divided.”
Minister rejects calls for further North Sea drilling
08:04 , Tara CobhamA government minister has rejected calls for using more oil and gas from the North Sea amid calls to approve further drilling in an effort to reduce energy prices.
The Conservatives are set to force a vote in the Commons demanding new oil and gas drilling in the North Sea to help tackle soaring fuel prices, branding the ban “sheer lunacy”.
But energy minister Michael Shanks said doubling down on fossil fuels would be “the absolute wrong lesson” to learn from the outbreak of war in the Middle East.
“Our future lies in building a clean power system that breaks us away from the volatility of fossil fuels,” he told the BBC. “It gets us off this roller coaster. More than half of the economic shocks this country's faced have been caused by fossil fuel crises around the world. We're determined to insulate households from that in the future that means moving away from fossil fuels building a clean power system protecting households and bringing down bills.”
Starmer warns UK must be prepared for lengthy conflict in Middle East
07:54 , Tara CobhamThough the US pause on strikes against Iranian energy infrastructure calmed markets and saw oil prices ease back, Sir Keir Starmer said Britain must be prepared for the Iran war to continue “for some time” on Monday.
Donald Trump had threatened to obliterate Iranian power plants if Tehran did not open the Strait of Hormuz to shipping by 11.45pm on Monday, and then said he would “postpone” the strikes after “very good and productive” talks with Tehran.
But Iranian officials have denied any such negotiations took place.
‘Nothing is off the table’ when it comes to energy bills support, minister says
07:47 , Tara CobhamPolitical reporter Athena Stavrou reports:
A minister has insisted the government will “fight people’s corners” as Rachel Reeves weighs up plans to implement support for British households in the wake of the war in the Middle East.
The chancellor is set to outline plans to guard against unfair price rises in a statement to MPs on Tuesday, following an emergency Cobra meeting on Monday afternoon.
Energy minister Michael Shanks said that minister’s have “left nothing off the table”, as he discussed further support that might come into place.
“We also know that we might need to introduce further support,” he told Sky News. “We are three weeks into a conflict, it’s changing very rapidly. We will continue to monitor what's happening.”
When asked if it would likely be targeted rather than universal support, he said: “ I think most people would accept that when we've got limited public financing, looking at targeting that to people who need it the most is probably an important thing for us to look at.
“But we also want to make sure we don't miss people in that, because often means testing things does miss those people who are just on the edge.”
UK was not involved in Iran-US peace talks
07:46 , Tara CobhamPolitical reporter Athena Stavrou reports:
The UK was aware, but not involved, in the most recent talks between the US and Iran to end the war in the Middle East.
The US president insisted that “very good and productive” discussions on ending the war were taking place — a claim which has since been labelled as “fake news” by the Iranian parliament speaker, who said there had been no talks.
Energy minister Michael Shanks told Sky News that the government was “aware that the talks were happening”, but said it was not a part of them.
“I think in truth, we'll see how these play out over the coming days,” he said.
“But obviously we've been really clear, anything that leads to de escalation of this conflict is welcome. Diplomacy is really important, so if there are people having these conversations that can only be a good thing.”
Reeves to outline plans to protect public from unfair price hikes
07:45 , Tara CobhamRachel Reeves will outline plans to guard against unfair price rises amid fears among the public over surging oil and fuel prices sparked by the Iran war.
The Chancellor will make a statement to MPs after laying out her plans to the Prime Minister and colleagues in an emergency Cobra meeting on Monday afternoon.
Those will include an “anti-profiteering framework” to detect and crack down on companies exploiting the Middle East crisis and help the Competition and Markets Authority root out price gouging.
It comes after Sir Keir Starmer said he was looking at boosting the competition regulator’s powers, giving it “further teeth” to deal with profiteering.
This could involve giving regulators “time-limited, targeted powers” and the Treasury, Department for Business and Trade and regulators were said to be working “at pace” on what those powers could be.
The Chancellor is also expected to tell the Commons that Britain needs a diverse mix of energy to shield the public from volatile fossil fuel markets and stress the importance of not letting “blockers” get in the way of boosting Britain’s nuclear power supply.
Ms Reeves will announce that she is exploring government-backed indemnities for critical energy security projects so construction can continue if a project is legally challenged.
Motorists should not drive slower because of Iran oil crisis, minister
07:28 , Tara CobhamMotorists should not drive slower nor buy fuel differently because of the Iran oil crisis, an energy minister has said.
Michael Shanks was asked by Times Radio if drivers should change their habits as a result of the oil restrictions caused by the conflict in the Middle East.
He told the broadcaster: “They should do everything as absolutely normal because there is no shortage of fuel anywhere in the country at the moment. We monitor this every single day, I look at the numbers personally. There’s no issue at all with that.”
Mr Shanks added: “People should go about their business as normal. That’s what the RAC and the AA have said. It’s really important people do that.
“There’s no shortage of fuel and everything is working as normal.”
Asked directly if drivers should slow their speed, Mr Shanks replied: “Look genuinely, people shouldn’t change their behaviour or their habits in the slightest.”
Starmer to give Competition and Markets Authority 'further teeth' to protect customers
07:10 , Bryony GoochSir Keir Starmer said on Monday he was looking at giving the Competition and Markets Authority “further teeth” so it can better protect customers.
As part of that, Downing Street said the Government will not hesitate to give the CMA and other regulators “time-limited, targeted powers” if needed. The Treasury, Department for Business and Trade and regulators are working “at pace” on what those powers could be.
No 10: Reeves to 'crack down on companies if they exploit' Iran war
07:00 , Bryony GoochChancellor Rachel Reeves, governor of the Bank of England Andrew Bailey and energy secretary Ed Miliband gave updates on the economy regarding the crisis in the Middle East in a Cobra meeting on Monday.
They stressed that de-escalation and ending the Iran conflict was “the best thing we can do for the economy”, Downing Street said in a readout.
“The Chancellor set out the steps she will take tomorrow – in a statement to Parliament – that will help protect working people from unfair price rises.
“She spoke about a plan to detect and crack down on companies if they exploit the crisis in the Middle East. This will take the form of a new anti-profiteering framework which will help regulators like the CMA to root out price gouging.”
