Starmer calls emergency meeting on Iran war’s economic impact on UK
Britain is watching with particular unease. The country’s heavy dependence on imported natural gas, persistently high inflation and stretched public finances have pushed its government bonds into a far steeper decline than those of international peers.
“Topics expected to be covered are the economic impact of the crisis on families and businesses, energy security and the resilience of industry and supply chains alongside the international response,” Britain’s finance ministry said ahead of Monday’s so-called Cobra meeting. Cobra refers to Cabinet Office Briefing Room A, where the UK government’s emergency contingency committee meets.
Reeves has said it is too soon to say what the impact of the war will be for Britain’s economy and has resisted calls for sweeping cost-of-living measures for households, saying instead that more targeted support is under consideration.