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The Latest Breaking News from Rachel Reeves

UK economy flatlined unexpectedly ahead of Iran war in blow to Rachel Reeves

The Office for National Statistics said there was zero growth in gross domestic product in January

Evening Standard

UK economy failed to grow in January in blow for Starmer

The figures follow warnings that inflation could rise at the end of the year due to the US-Israeli war on Iran

The Independent UK

UK economy unexpectedly flatlined in January, official figures show

January’s GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut

The Guardian - UK

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Rachel Reeves asks watchdog to ‘crack down’ on fuel ‘rip-offs’ amid Iran war

The Chancellor and Energy Secretary Ed Miliband will hold a meeting at Downing Street with petrol retailers and energy suppliers.

Evening Standard

Reeves and Miliband to demand answers from energy and fuel bosses over rip-off price rises

The chancellor and energy secretary to meet energy bosses to warn against profiteering amid soaring oil prices

The Independent UK

One in three Britons now invest in stock market as ISA deals competition ramps up

Glut of new deals as competition in sector grows

The Independent UK

Over a barrel: what does the energy crisis caused by the Iran war mean for UK households?

With the flow of oil from the Middle East drying up and energy prices skyrocketing, the economic outlook is grim. Jonathan Prynn looks at the options facing Rachel Reeves and Keir Starmer

Evening Standard

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Starmer warns against profiteering as Trump vows to ‘finish the job’ in Iran

Threats from Tehran have choked shipping through the Strait of Hormuz, a vital artery for global oil and gas supplies.

Evening Standard

London's most expensive petrol: Garage selling 253.9p-per-litre unleaded as prices soar amid Iran war

Motorists hit with steepest fuel price increases since Russia’s invasion of Ukraine

Evening Standard

Lloyd’s of London stresses it is still insuring shipping in strait of Hormuz

Company at heart of global maritime cover fends off criticism over cancelled policies and sharp price rises

The Guardian - UK

Martin Lewis shares how to get best rate Isa before crucial deadline

‘It’s getting urgent right now’, the personal finance guru said

The Independent UK

Will releasing millions of barrels of oil stockpiles really bring down fuel costs?

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices

The Guardian - UK

Competition watchdog probes complaints over sudden heating oil price hikes

The Competition and Markets Authority (CMA) said it had kicked off a review after receiving ‘troubling reports’ from customers.

Evening Standard

‘Troubling reports’ of sudden heating oil price hikes and cancelled orders across UK

Chancellor Rachel Reeves said she was working with the watchdog to tackle ‘any price gouging’

The Independent UK

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The Independent UK

Keir Starmer opens door to scrapping fuel duty hike

The prime minister said the planned rise would be ‘kept under review’, paving the way for yet another U-turn

The Independent UK

Rachel Reeves accepts ‘valid’ criticism against major Budget tax hike

The Chancellor defended her key policy before Parliament’s Treasury Committee

Evening Standard

Reeves: ‘Valid’ to say national insurance hike should not have happened

However, the Chancellor insisted the move announced in 2024 was needed to put money into public services.

Evening Standard

Starmer slams Badenoch for 'mother of all U-turns' on Trump's Iran war in angry PMQs clash

‘In this job, you don't get a second shot at making the right call on taking your country to war,’ the Prime Minister told the Tory leader

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The Guardian - UK

‘Nothing off the table’ as Rachel Reeves considers ‘targeted support’ over energy costs

Chancellor does not rule out ditching planned fuel duty rise but tells MPs it is too early to gauge if consumers need extra help

Evening Standard

Oil wars: West releases record 400 million barrels as Iran hits cargo ships in Strait of Hormuz

Meanwhile Tehran threatens to target banks and financial centres in Middle East as Chancellor Rachel Reeves issues warning on inflation and interest rates

The Independent UK

Rachel Reeves admits Middle East conflict ‘certainly not good’ for economy

The Chancellor indicated the government could intervene on energy costs if the conflict spiralled

The Independent UK

Nick Clegg hits out at ‘deeply unfair’ university tuition fees system

Tuition fees were tripled when Sir Nick Clegg was deputy prime minister

Evening Standard

Trade disruption from Iran war ‘not good for the British economy’, Reeves says

The Chancellor called for rapid de-escalation of the conflict to protect the UK economy.

The Independent UK

UK inflation warning as soaring oil prices threaten 3% high

IN FULL

The Independent UK

Iran war could drive inflation to 3%, OBR warns in major blow for Reeves

Professor David Miles said the impact of conflict on UK prices could be ‘significant’ and ‘completely unwelcome’

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