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The Guardian Politics24 Mar 2026

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

The chancellor was meant to set out her contingency plans but it was an announcement without any announcements in it You have to feel a bit sorry for the chancellor. Roughly four weeks ago, Rachel Reeves had come to the Commons to deliver her spring statement. A moderately upbeat picture of the nation’s finances that didn’t necessarily coincide with people’s lived experience. Still, it more or less did the trick. Bought her another six months until the autumn budget. Or so she thought. Now, than

PoliticsEconomyDefence
The Guardian Politics24 Mar 2026

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 Reeves rules out universal support on energy bills Business live – latest updates Rachel Reeves updated MPs on Tuesday about the steps the government was taking to cushion the impact of the Iran war on consumers and the UK economy. The chancellor stopped short of announcing specific immediate support but said she was contingency planning for the tough months ahea

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The Guardian Politics24 Mar 2026

No fuel shortage in Britain, says minister, as Reeves prepares to set out economic response to Iran war – UK politics live

Energy minister Michael Shanks reassures drivers ahead of chancellor’s statement to MPs Good morning. At lunchtime Rachel Reeves, the chancellor, will give a statement to MPs that will cover what the government is doing, and (more tentatively) might do, in response to the soaring global energy prices caused by the Iran war. After Russia invaded Ukraine in 2022, also creating a global energy shortage, the Conservative government ended up spending £40bn supporting families and firms with energy bi

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The Guardian Politics23 Mar 2026

Starmer signals support for household bills next winter amid energy price shock

PM indicates he would prefer to focus taxpayer-funded help on poorest households, rather than universal bailout Ministers are looking at providing support for household bills next winter, Keir Starmer said, as he suggested the energy price shock unleashed by the Iran conflict could continue for months to come. The prime minister indicated he would prefer to focus any taxpayer-funded help on the poorest households, rather than an expensive universal bailout, ahead of an emergency meeting on the e

Economy
The Guardian Politics23 Mar 2026

Ministers tell HS2 to consider slower train speeds to cut costs

Company will assess whether drop to 186mph from 224mph will save money and help bring forward launch Ministers have told High Speed Two to consider running its trains at lower speeds, in an attempt to rein in the spiralling budget and begin operations as soon as possible. HS2 Ltd will assess whether limiting the speed to 186mph (300km/h) instead of 224mph could save money – potentially billions of pounds – and bring the railway into being earlier in the 2030s. Continue reading...

EconomyDefence
The Guardian Politics23 Mar 2026

A war and maybe an unprecedented depression: it’s Trump’s mania, but now all of us will pay the price | Polly Toynbee

It had been possible to observe this presidency in abstract terms, but no more. The consequences of the Iran attack will affect our lives and our politics Nothing has changed. Yet. But we stand on the edge of inevitable economic cataclysm, such as not seen in our lifetimes. It’s an odd, hold-your-breath moment, waiting for what the International Energy Agency (IEA) says is now certain to happen: an energy crisis so critical it will be the equivalent of the two oil crises in 1973 and 1979 and Rus

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The Guardian Politics23 Mar 2026

Trump rows back on strait of Hormuz threat – what next? | podcast

The US president has extended by five days his deadline to ‘hit and obliterate’ Iran’s power stations and energy infrastructure if Tehran does not allow shipping to move freely. Pippa Crerar and Kiran Stacey discuss what is behind this change of tone and the impact the uncertainty will have on the cost of living in the UK. Plus, with just over six weeks until the local elections, they talk through what to watch as the results come in Continue reading...

PoliticsEconomy
The Guardian Politics23 Mar 2026

Starmer says ‘every lever’ will be explored to ease rising costs of living from Iran conflict

PM will chair Cobra meeting with key ministers and Bank of England on Monday, as experts warn of economic shock UK politics live – latest updates Middle East crisis – live updates Keir Starmer has promised to look at using “every lever that’s available to the government” to help with the cost of living impacts of the US-Israel war against Iran, ahead of an emergency meeting with senior ministers later on Monday. The prime minister is to chair a meeting of the Cobra committee on Monday afterno

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The Guardian Politics22 Mar 2026

Starmer adviser urges ministers to look at profits cap for energy and petrol firms

PM’s ‘cost of living champion’ calls for consideration of temporary measure to prevent profiteering from Iran war The government’s top cost of living adviser has called on ministers to explore a temporary cap on the profits of energy and petrol companies to prevent them from cashing in excessively on the war in the Middle East. Richard Walker – a Labour peer, the chair of Iceland supermarkets and the prime minister’s “cost of living champion” – said he had asked the government to examine limitin

EconomyDefence
The Guardian Politics22 Mar 2026

How tacking centre left will help Labour win the next election | Andy Beckett

Tribalism and political ambiguity worked with a less fragmented electorate. The party must reconnect with its base – and be open to work with other progressives Led by a probably doomed prime minister, presiding over a struggling economy, exposed by an ongoing scandal, besieged by populist insurgents to its right and left, ambushed by a war that will bring higher inflation and public debt, and predicted to win just 75 seats at the next general election, according to the website Electoral Calcul

PoliticsEconomyDefenceReform
The Guardian Politics21 Mar 2026

Trump’s economic shocks are derailing Britain’s building plans

With major developments collapsing, pressure is growing on councils to concede on affordable housing and public amenities Donald Trump has done his best to crush the green shoots of the global, post-pandemic economic recovery – nowhere more so than in the UK. The US president’s vandalism can be seen across the economic landscape, especially in the property sector, which has become more sensitive to international events since the spread of Covid-19 disrupted long-established supply chains and se

EconomyEnvironmentHousing
The Guardian Politics20 Mar 2026

UK ministers begin contingency planning amid fears for economic effects of Iran war

Britain authorises use of military bases to strike Iranian missile launchers that target shipping in strait of Hormuz • Middle East crisis – live updates Donald Trump has branded the UK and other Nato allies “cowards” but anger is growing among cabinet ministers that his war in Iran could jeopardise Britain’s fragile finances. Senior members of the government are in despair about the potential effects on the economy, with experts warning of higher energy prices and mortgage and borrowing costs.

PoliticsEconomyDefenceHousing