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The Latest Breaking News from Rachel Reeves

Starmer warns against profiteering as Trump vows to ‘finish the job’ in Iran

Threats from Tehran have choked shipping through the Strait of Hormuz, a vital artery for global oil and gas supplies.

Evening Standard

London's most expensive petrol: Garage selling 253.9p-per-litre unleaded as prices soar amid Iran war

Motorists hit with steepest fuel price increases since Russia’s invasion of Ukraine

Evening Standard

Lloyd’s of London stresses it is still insuring shipping in strait of Hormuz

Company at heart of global maritime cover fends off criticism over cancelled policies and sharp price rises

The Guardian - UK

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Martin Lewis shares how to get best rate Isa before crucial deadline

‘It’s getting urgent right now’, the personal finance guru said

The Independent UK

Will releasing millions of barrels of oil stockpiles really bring down fuel costs?

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices

The Guardian - UK

Competition watchdog probes complaints over sudden heating oil price hikes

The Competition and Markets Authority (CMA) said it had kicked off a review after receiving ‘troubling reports’ from customers.

Evening Standard

‘Troubling reports’ of sudden heating oil price hikes and cancelled orders across UK

Chancellor Rachel Reeves said she was working with the watchdog to tackle ‘any price gouging’

The Independent UK

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Keir Starmer opens door to scrapping fuel duty hike

The prime minister said the planned rise would be ‘kept under review’, paving the way for yet another U-turn

The Independent UK

Rachel Reeves accepts ‘valid’ criticism against major Budget tax hike

The Chancellor defended her key policy before Parliament’s Treasury Committee

The Independent UK

Reeves: ‘Valid’ to say national insurance hike should not have happened

However, the Chancellor insisted the move announced in 2024 was needed to put money into public services.

Evening Standard

Starmer slams Badenoch for 'mother of all U-turns' on Trump's Iran war in angry PMQs clash

‘In this job, you don't get a second shot at making the right call on taking your country to war,’ the Prime Minister told the Tory leader

Evening Standard

‘Nothing off the table’ as Rachel Reeves considers ‘targeted support’ over energy costs

Chancellor does not rule out ditching planned fuel duty rise but tells MPs it is too early to gauge if consumers need extra help

The Guardian - UK

Oil wars: West releases record 400 million barrels as Iran hits cargo ships in Strait of Hormuz

Meanwhile Tehran threatens to target banks and financial centres in Middle East as Chancellor Rachel Reeves issues warning on inflation and interest rates

Evening Standard

Rachel Reeves admits Middle East conflict ‘certainly not good’ for economy

The Chancellor indicated the government could intervene on energy costs if the conflict spiralled

The Independent UK

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The Independent UK

Nick Clegg hits out at ‘deeply unfair’ university tuition fees system

Tuition fees were tripled when Sir Nick Clegg was deputy prime minister

Evening Standard

Trade disruption from Iran war ‘not good for the British economy’, Reeves says

The Chancellor called for rapid de-escalation of the conflict to protect the UK economy.

The Independent UK

UK inflation warning as soaring oil prices threaten 3% high

IN FULL

The Independent UK

Iran war could drive inflation to 3%, OBR warns in major blow for Reeves

Professor David Miles said the impact of conflict on UK prices could be ‘significant’ and ‘completely unwelcome’

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news in one place.

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The Independent UK

Rachel Reeves issues warning over soaring heating oil prices with more than 1 million affected

IN FULL

Evening Standard

O’Dowd calls for direct support for customers hit by home heating oil price rise

The Finance Minister said the powersharing Executive does not have the financial ‘firepower’ to fund any relief scheme.

The Independent UK

Rachel Reeves warns using public money to tackle soaring oil prices ‘not the solution’

The Chancellor also warned that petrol stations ‘price gouging’ will ‘not be tolerated’

Evening Standard

Chancellor Rachel Reeves may raise mileage rates for drivers using cars for work

The Chancellor said she understood driving costs had risen “significantly” in recent years

The Independent UK

Rachel Reeves says she might raise mileage rates for drivers using cars for work

The Chancellor said the potential change would be in response to a ‘significant’ rise in driving costs.

The Independent UK

Second Royal Navy ship readied to respond to Iran crisis after HMS Dragon criticism

RFA Lyme Bay could be deployed to the eastern Mediterranean if the conflict continues

Evening Standard

Second British ship being prepared to respond to Middle East crisis

RFA Lyme Bay could be sent to the eastern Mediterranean if the crisis continues.

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