UK Chancellor Rachel Reeves has expressed anger over former US President Donald Trump's decision to launch military action against Iran, warning that the conflict lacks a clear exit strategy and is already causing economic hardship.
In an interview with BBC Radio 2, Reeves stated: "I'm angry that Donald Trump has chosen to go to war in the Middle East – a war that there's not a clear plan of how to get out of. It's why we didn't want to enter this."
The chancellor highlighted several potential consequences, including higher inflation, weaker economic growth, and lower tax receipts. She emphasized that the government is closely monitoring the situation and working to secure oil and gas supplies to help stabilize prices.
Tensions between the US and UK have escalated following Prime Minister Sir Keir Starmer's refusal to allow US forces to use UK bases for offensive strikes against Iran. While Starmer later permitted defensive use of bases against Iranian missile attacks, Trump has continued his criticism of the UK leader.
Starmer used a recent press conference to announce that the UK would pursue closer economic ties with the European Union as a result of the conflict, stating: "It is increasingly clear that as the world continues down this volatile path, our long-term national interest requires closer partnership with our allies in Europe and with the European Union."
Opposition parties have seized on the economic implications, with Conservatives and Reform UK calling for VAT to be removed from household energy bills and for a planned fuel duty increase to be cancelled. The Liberal Democrats and Greens have also proposed various measures to address rising energy costs.
The conflict has led Iran to effectively block the Strait of Hormuz, one of the world's busiest oil shipping channels, causing wholesale oil and gas prices to soar. A sustained increase in oil prices is expected to lead to higher household energy bills in the UK when the price cap is reset in July.
Foreign Secretary Yvette Cooper is scheduled to host a virtual meeting of 35 nations on Thursday to discuss measures to reopen the Strait of Hormuz once hostilities cease.