Rachel Reeves faces £8BILLION per year financial hit as US-Iran war to 'damage the economy'

A new IPPR report warns that the US-Iran war could inflict £8 billion annually on Britain's economy, citing increased debt servicing costs and reduced tax revenues. The think tank proposes measures like an energy price cap and fuel duty reduction to mitigate inflationary pressures and support economic growth. It draws lessons from the previous administration's handling of the 2022 energy crisis, urging decisive government action.