- Sir Keir Starmer is scheduled to chair an emergency Cobra meeting on Monday with senior ministers and the Bank of England governor to discuss the economic impact of the escalating Iran war.
- The meeting will address energy security, industry resilience, supply chains, and strategies to help families and businesses manage rising costs as the Middle East conflict enters its fourth week.
- Tensions escalated over the weekend after Donald Trump warned Iran he would “obliterate” its power plants if it did not reopen the crucial Strait of Hormuz, leading to Iranian threats to target energy infrastructure and shut the strait completely.
- Housing Secretary Steve Reed did not rule out potential food and petrol shortages, while Centrica's CEO warned that energy bill increases are “inescapable” if the war persists, with a greater impact expected at petrol pumps than on household bills.
- Lord Walker of Broxton, the government's cost of living tsar, urged Sir Keir to consider a temporary profit cap on energy companies and petrol retailers to prevent “opportunistic rip-offs” during the crisis.
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