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The Latest Breaking News from Rachel Reeves

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

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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

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 Independent 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 Guardian - 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

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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

The Independent UK

“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

Evening Standard

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 Independent 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

The Guardian - UK

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Evening Standard

Oil majors boost FTSE 100 amid war uncertainty

The FTSE 100 index closed up 71.01 points on Tuesday.

The Guardian - UK

Reeves slips into yoga voice to try to soothe fears over costs of Trump’s war

The chancellor was meant to set out her contingency plans but it was an announcement without any announcements in it

Evening Standard

Posties told to leave hospital letters in racks to prioritise parcels – union

The Communication Workers Union told MPs that postal workers are led by a pyramid framework which tells them which deliveries to prioritise.

The Guardian - UK

What levers could Rachel Reeves pull to help with rising prices?

What the chancellor could do to counter the economic impacts of Iran war, from stopping price gouging to cancelling fuel duty rises

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The Independent UK

Rachel Reeves rules out universal support amid rising energy bills

IN FULL

The Independent UK

Millions of households will get no help on energy bills in wake of Iran war

Political opponents have attacked chancellor Rachel Reeves for her ‘weak’ response to soaring energy costs

Evening Standard

Iran oil crisis has cost UK drivers £307m in higher fuel costs – analysis

Oil prices have soared to as much as 120 dollars a barrel in response to Iran’s stranglehold on tankers passing through the Strait of Hormuz.

The Independent UK

What you need to know about Rachel Reeves’ energy bills support announcement

IN FULL

The Guardian - UK

Rachel Reeves rules out universal support on energy bills

Chancellor says package offered by Liz Truss’s government was unaffordable and any future help will be targeted

The Independent UK

Rachel Reeves’ energy plan dismissed as ‘total waste of time’ – here’s why

IN FULL

The Independent UK

An arson attack leaves Britain's Jewish community feeling vulnerable

British police are hunting three suspects after an arson attack on ambulances that has left Britain's Jewish community feeling vulnerable

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