The prime minister is facing pressure from unions and some backbenchers to prepare a support package as oil and gas prices threaten to push up inflation
Addressing the war in Iran, Keir Starmer acknowledged that the longer the conflict went on the greater the likely impact on the UK’s economy. The prime minister said:
The job of government is obviously to get ahead, to look around the corner, to work with others, and the chancellor speaks to the governor of the Bank of England on a daily basis, with looking cross-departmental within government, assessing the risks, monitoring and talking to our international partners as well about what more we can do together to reduce the likely impact on people here and businesses here, of course.
But it is important to acknowledge that that work is needed, because people will sense, you will sense I think, that the longer this goes on, the more likely the potential for an impact on our economy, impact into the lives and households of everybody and every business.
And our job is to get ahead of that, to look around the corner, assess the risk, monitor the risks, and work with others in relation to that.
