How Iran war could derail the economy – and Labour

How Iran war could derail the economy – and Labour

If the bombing of energy infrastructure continues, Rachel Reeves could be left with another crisis just as the public finances were about to turn a corner, as Sean O’Grady explains

UK economy in peril as growth forecast slashed in half

The UK economy is set to grow by half as much as economists predicted before the war in Iran started as forecasters attempt to make sense of how deep the impact of an energy price shock will be.  A leading economics consultancy has revised its UK growth forecast down to 0.4 per cent compared to a previous estimate of 0.9 per cent.  Oxford Economics said its current assumptions on oil and gas prices would keep interest rates elevated and pile on …

Protecting the UK economy from the Iran war energy price shock

A prolonged crisis will likely lead to higher inflation, reduced demand and a potential recession - the government must not simply paper over the cracks