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The Guardian Politics3 Mar 2026

Shadow of Iraq war lies over Westminster as MPs consider US-Israeli attack on Iran

Despite rebukes from Donald Trump, many MPs back Keir Starmer’s stance so far, and say lessons from conflict in Iraq must not be forgotten Calvin Bailey keeps his Iraq medal, issued to members of the British armed forces who served as part of Operation Telic, safe in a drawer in his home. It features a clasp, given to personnel who were part of the very first wave of flights to leave British bases to invade Iraq in March 2003. So when the Labour MP for Leyton and Wanstead spoke at a meeting bet

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The Guardian Politics3 Mar 2026

The Guardian view on Labour’s migration gamble: Denmark is no template | Editorial

Extending settlement waits risks deepening labour shortages while misreading public concern about migration’s economic and demographic realities The home secretary, Shabana Mahmood, is expected this week to press ahead with plans to make it harder for migrants to gain settled status, extending the wait from five to 10 years. She will not change tack despite Labour’s crushing byelection defeat to the Greens. This is a mistake. Ms Mahmood argues that Denmark’s Social Democrats curbed inflows to pr

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The Guardian Politics3 Mar 2026

The Guardian view on Rachel Reeves’s spring statement: stability cannot mean sacrificing living standards | Editorial

An energy shock from war in the Gulf will expose the limits of rigid fiscal rules. The real question is who absorbs the loss: the state, firms or households? The war in the Middle East has sent oil and gas prices soaring – and Britain remains deeply exposed to global energy markets. If the shocks persist they will feed directly into household bills, business costs and inflation. On Tuesday, the Office for Budget Responsibility released projections that were finalised before the US-Israeli strike

EconomyDefence
The Guardian Politics3 Mar 2026

What will Rachel Reeves’s spring forecast mean for household finances?

The chancellor promised more money in people’s pockets, but the Iran crisis makes steeper inflation a pressing worry Rachel Reeves used her spring statement to insist her economic policies are working and things are looking up for household finances after the cost of living crisis. The chancellor trumpeted that by the next general election “people will be over £1,000 a year better off”. But against the backdrop of war in the Middle East, financial experts warned that the new economic forecasts p

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The Guardian Politics3 Mar 2026

‘It’s no news just when we wanted some’: Business leaders react to spring statement

Amid global volatility, Rachel Reeves tried to project calm with a low-key forecast. But business owners have their doubts Rachel Reeves gave a deliberately low-key spring forecast on Tuesday, in an attempt to project calm amid volatility abroad and after repeated tax rising budgets. But for some business owners struggling with rising costs, a lack of policy announcements this time around was a disappointment. Continue reading...

Economy
The Guardian Politics3 Mar 2026

Unemployment set to hit 5.3% this year amid ‘worrying’ rise in young jobless

OBR raises forecast from 4.9% and downgrades UK’s growth prospects for 2026 – while also warning of war uncertainty Unemployment in the UK is set to peak this year at a higher rate than previously estimated, with a “worrying” increase in young people being out of work, the government’s official forecaster has said. The Office for Budget Responsibility (OBR) said unemployment will peak at 5.3% this year, up from its previous forecast in November of 4.9%. Continue reading...

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The Guardian Politics3 Mar 2026

Ben Jennings on Donald Trump, Keir Starmer and the war in Iran – cartoon

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Defence
The Guardian Politics3 Mar 2026

Reeves’s spring statement? The economy is great, don’t worry about the Middle East

With no spending or fiscal commitments to offer, the chancellor kept it short, sweet and just a little tin-eared When your luck is out, your luck is out. Time to accept what the fates have to throw at you. It was always going to be a bit of a stretch for Rachel Reeves to maintain she had a brilliant plan and the economy had never been in better health when the figures show a fall in growth and a rise in unemployment. Unless you happen to think those things aren’t so bad after all. To do so three

Economy
The Guardian Politics3 Mar 2026

Rachel Reeves claims UK economy can beat forecasts again – is she right? Our writers discuss

The chancellor insists Labour has ‘the right economic plan’ for a world that has become ‘yet more uncertain’ Continue reading...

Economy
The Guardian Politics3 Mar 2026

Reeves’s talk of stability may be misplaced amid Iran war turmoil

Attempt to project calm in spring forecast may be short-lived if living costs and unemployment keep climbing Reeves insists Labour has ‘right economic plan’ Business live – latest updates “This government has restored economic stability,” Rachel Reeves told the House of Commons on Tuesday. Yet the chancellor was speaking just moments after MPs had been hearing from the foreign secretary, Yvette Cooper, about plans to evacuate British nationals from the escalating conflagration in the Middle E

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The Guardian Politics3 Mar 2026

‘I’m concerned the Iran war might drive up living costs’: Britons respond to Reeves’s spring forecast

The chancellor’s statement offered little new on tax or spending, but readers voiced concerns about rising costs Business live – latest updates Action to tackle student loan debt, clarity about what the Middle East crisis will mean for the UK economy, cheaper borrowing, more scrutiny of supermarket prices … Readers who took part in a Guardian callout before the spring forecast had plenty of things on their wishlists. In the event there were no major tax or spending measures announced, and some

EconomyDefence
The Guardian Politics3 Mar 2026

Spring forecast: Reeves insists Labour has ‘right economic plan’ as 2026 growth downgraded

Chancellor says she is in close touch with Bank of England governor and is meeting energy companies amid soaring oil and gas prices Business live – latest updates Rachel Reeves insisted Labour has “the right economic plan” for a world that has become “yet more uncertain” as she delivered a spring forecast that downgraded growth for this year. The chancellor was addressing MPs against the backdrop of surging energy prices, as investors fret about the impact of the spiralling conflict in the Mid

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