"Senior members of the government are in despair about the potential effects on the economy, with experts warning of higher energy prices and mortgage and borrowing costs."
"The Treasury has set up an Iran board of ministers and officials that is considering a range of potential options, which government sources say include a universal bailout for energy bills."
"The prospect of a global energy shock and further increases to the cost of living comes at a critical time for Keir Starmer and Rachel Reeves in the run-up to May's local elections."
Donald Trump has criticized the UK and NATO allies, calling them cowards. UK cabinet ministers are worried that the conflict in Iran could harm the economy, leading to higher energy prices and increased borrowing costs. The UK is now authorizing military bases for strikes against Iranian missile launchers. The Treasury is considering options, including a potential bailout for energy bills. The situation poses challenges for the government as they prepare for local elections amidst rising costs of living and government borrowing.
Read at www.theguardian.com
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