The Chancellor of the Exchequer responded to the IMF WEO report that has been issued.
Chancellor, Rachel Reeves, said: “The war in Iran is not our war, but it will come at a cost to the UK.
“These are not costs I wanted, but they are costs we will have to respond to. I have vowed that my economic approach to this crisis will be both responsive to a changing world and responsible in the national interest, keeping inflation and interest rates in check to protect households and businesses.
“We entered this conflict in a stronger position because of the choices this government took to build economic stability, but there is more to do. That is why we are strengthening Britain’s energy security, backing British industry and protecting households, to build a Britain that is stronger, more resilient, and prepared for the future.”
