Sir Keir Starmer has warned that Britons may need to change their shopping habits and holiday plans due to the economic impact of the Iran war. The Prime Minister urged the public not to panic but acknowledged that supply chains could be affected as the conflict continues.
Speaking on the Cathy Newman Show, Sir Keir said the government was doing “everything we can” to reopen the Strait of Hormuz, a vital oil and gas route effectively closed by Iran since the US-Israeli bombing campaign began. He noted that a military mission led by the UK and France would provide reassurance to ships, but it is not expected to start until hostilities cease.
The Prime Minister stressed that even after the strait reopens, the damage will persist. “I don’t want anybody to think that, once the Strait is open, that that’s the end of the damage. It will go on longer than that,” he said. He added that ministers hold “almost daily meetings” to manage the crisis and that at present, supplies are adequate, with airlines reporting sufficient jet fuel.
However, Sir Keir cautioned that if the impact worsens, people might change their holiday destinations or supermarket purchases. He reiterated that the UK chose not to enter the war, which he said was the right decision, but the country must protect its citizens from the fallout.
Oil prices have risen to around 108 US dollars a barrel after peace talks stalled. The government has capped household energy costs until July and frozen fuel duty until September.
