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The Latest Breaking News from Rachel Reeves

Starmer to meet business leaders amid Hormuz blockade

The Prime Minister is expected to meet senior representatives from the energy, shipping and financial services industries.

Evening Standard

War in Iran erodes the chancellor’s headroom and exposes the UK’s fragility

Rachel Reeves boasts of the £23bn she has built up against her fiscal rules but now she – or any future steward of the economy – has little space to manoeuvre

The Guardian - UK

Keir Starmer is right to defy Donald Trump over the Iran war

THE INDEPENDENT VIEW: Editorial: An exclusive poll for The Independent shows British people think better of the prime minister for staying out of the Iran war as much as possible

The Independent UK

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Iran, one month on – the numbers tell the terrible toll of war

THE INDEPENDENT VIEW: Editorial: If there was ever a plan behind the US-Israeli assault on Iran, it is not going well – instead, it has become Donald Trump’s great miscalculation

The Independent UK

Mortgage deals ‘trickling back on to market but at higher rates’

Lenders are preparing to proactively contact 1.6 million customers whose fixed-rate deals will finish before the end of the year.

Evening Standard

Rachel Reeves urged to raise taxes on companies profiting from Iran war

The price of oil has skyrocketed since the war in Iran began and the UK economy is predicted to see a drop in growth

The Independent UK

Rachel Reeves urged to raise taxes on companies profiting from war on Iran

Charities say energy companies, banks and defence companies stand to benefit from the economic fallout

The Guardian - UK

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Rachel Reeves must do more to protect us from a wartime slump

THE INDEPENDENT VIEW: Editorial: At a time of conflict in the Middle East, it would be unfair to blame the government for Britain now facing the biggest hit to growth of all the world’s major economies – but the public is right to expect the chancellor to display a surer…

The Independent UK

Cost of Trump’s war: From energy bills to UK interest rates, how Middle East conflict is hitting Britons

Chancellor warns UK households face ‘significant’ economic challenges as US and Israel’s war against Iran sends global financial markets and energy prices spiralling

The Independent UK

UK gets biggest cut to growth outlook this year among world’s major economies

The OECD published the biggest downgrade to the UK’s growth outlook for 2026 than any other country in the G20 group of economies.

Evening Standard

UK faces biggest hit to growth from Iran war of all major economies, OECD warns as inflation set to surge

Government urged to encourage homes and businesses to be more efficient with their energy usage

The Independent UK

Trump's Iran war wreaks economic carnage on UK with £15 billion blow to GDP and deepening cost-of-living crisis, warns OECD

Inflation in Britain is forecast to jump to 4% this year, outstripping many wage increases

Evening Standard

UK faces weaker economic growth and higher inflation due to Iran war – OECD

The conflict has worsened the outlook for many of the world’s largest economies, the Organisation of Economic Co-operation and Development said.

Evening Standard

NS&I faces £400million compensation payout over savings scandal as 'prizes withheld from bereaved families'

The bank is accused of losing track of investments and delaying payments - and taxpayers could end up footing the compensation bill

Evening Standard

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The Independent UK

Reeves ‘waiting until autumn’ for major energy bill support to ease Iran war economic shock

Rachel Reeves will reportedly allow the energy price cap to rise in the summer because she believes the true impact on bills will be clearer by the autumn

The Guardian - UK

Fears net zero is ‘next Brexit’ as oil crisis fuels political climate divide

Rising energy bills give Reform and Tories opening to attack net zero while government hesitant to make case for clean energy

The Independent UK

Millions of UK drivers could claim more for mileage expenses under major review

Treasury minister Dan Tomlinson admitted the mileage rate review was ‘well overdue’

The Independent UK

Voices: Readers on how to tackle soaring bills in wake of Iran war – from ‘going electric’ to ‘holding back’ on travel

YOUR VIEWS: Our community is divided on how to tackle rising energy costs, with many warning support is limited by public finances while others call for policy changes or personal behaviour shifts in the face of a global crisis

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Evening Standard

“Hospitality is real entrepreneurship”: London’s restaurants slam Rachel Reeves’ adviser

Alexandra Depledge said Britain didn’t “need any more restaurants” and should focus on tech instead

The Independent UK

Soaring oil prices spark fear of global recession

Fears of a global recession have emerged due to soaring prices, exacerbated by the conflict in the Middle East. Larry Fink, CEO of BlackRock, has predicted a global recession if oil prices reach $150 a barrel, citing "profound implications" should Iran remain a threat. UK Chancellor Rachel Reeves warned that…

The Independent UK

Cyprus to ‘seek new security deal’ for UK military bases following strike on RAF Akrotiri

Cypriot president has called for ‘open and frank’ discussions over future of UK bases on the island

The Independent UK

Politics latest: Starmer vows to go ‘further and faster’ on renewable energy to bring bills down during Iran crisis

Comes after Reeves warns Middle East conflict may cause ‘significant’ economic challenges for Britons amid soaring prices

The Independent UK

UK drivers forced to pay £300m more for fuel amid price rises from Iran war

IN FULL

The Guardian - UK

The Guardian view on the Iran war: energy, markets and a dangerous illusion

Editorial: Markets and the Treasury are pricing a quick exit. Without a credible political endgame, Donald Trump cannot deliver one

Evening Standard

Oil majors boost FTSE 100 amid war uncertainty

The FTSE 100 index closed up 71.01 points on Tuesday.

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