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The Latest Breaking News from Rachel Reeves

Petrol retailers say ministers’ use of ‘inflammatory language’ may have led to abuse of forecourt workers

The trade body’s explosive intervention came after Rachel Reeves asked the competition watchdog to crack down on ‘rip-off’ fuel prices as the Iran war continues to escalate

The Independent UK

Starmer says government will step in if fuel companies rip off customers as trade body U-turns on decision not to meet Reeves – as it happened

The prime minister issues the statement after a fuel trade body earlier withdrew from a meeting with the chancellor today

The Guardian - UK

Ministers warn they will not accept wartime profiteering as crackdown on ‘rip-off’ fuel prices launched

Rachel Reeves has asked the competition watchdog to stay on ‘high alert’ for ‘unjustifiable’ price hikes

Evening Standard

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Starmer risks Trump’s wrath with split from US over lifting Russia oil sanctions

Trump administration temporarily allowing countries to buy Russian oil ‘currently stranded at sea’

The Independent UK

Economy stagnates in January ahead of Iran war and fears over UK impact

Experts warned a prolonged Middle East conflict and an ongoing spike in oil prices could send the economy into reverse in 2026.

Evening Standard

Bleak economic data shows UK plc in trouble well before Middle East crisis

Zero GDP growth in January will not help Rachel Reeves claim she has put UK in position to weather oil price storm

The Guardian - UK

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

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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

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

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

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

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

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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

The Guardian - UK

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 Independent 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 Guardian - 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

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Evening Standard

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.

The Independent UK

‘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

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

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.

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

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

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

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