We count on authorities help in a disaster. Will Reeves intervene on power payments?revealed at 08:55 GMT
Laura Kuenssberg
Presenter, Sunday with Laura Kuenssberg
Image supply, PA MediaHow huge is the blowback from the Iran battle doubtless to be on us? “Insanely profound,” solutions one authorities supply. “Huge,” says one other.
Which begs the query: what are the prime minister and chancellor going to do about it?
This week Prime Minister Sir Keir Starmer vowed working households have been at all times at the highest of the listing. It is feasible {that a} crippling spike in power prices is on the way in which.
So are we careering in the direction of the federal government writing one other huge cheque to prop up households and corporations within the title of a disaster?
When missiles began dropping a fortnight in the past, Chancellor Rachel Reeves switched the main focus of a weekend engaged on her deliberate Spring Statement to a weekend of beginning to plot what the impact of a brand new battle within the oil-rich Middle East could be, and what the federal government may think about doing in response.
Reeves quickly requested her high official to create an Iran response board to pull collectively what the federal government may do to defend the economic system from the worst potential results of the conflict and spiralling oil costs – in addition to households’ power payments.
But how does the federal government defend customers and corporations if the worth of oil stays sky-high for a very long time?
