UK ministers begin contingency planning amid economic fears over Iran war | Iran

Donald Trump's escalating war in Iran has sparked concern among UK cabinet ministers, who fear it could jeopardize the country's fragile economy. The conflict is expected to lead to higher energy prices and increased borrowing costs, prompting the Treasury to establish an "Iran board" of officials to consider various options, including a universal bailout for energy bills. The prospect of a global energy shock has prompted calls from some Labour MPs for greater fiscal flexibility and radical tax reform. Meanwhile, the International Energy Agency (IEA) has advised countries to reduce oil consumption through measures like public transport promotion and car-sharing initiatives.