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The Independent UK

Kate Devlin

Reeves warned not to raise taxes to protect UK from Iran war economic shock

Rachel Reeves Iran United Kingdom Diego García Donald Trump

Rachel Reeves has been urged not to raise taxes in response to the economic shock brought on by the US’s war with Iran.

Ministers will next week hold an emergency meeting with Andrew Bailey, the governor of the Bank of England, to discuss plans to help households with the soaring cost of living caused by the conflict.

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