Prime Minister Keir Starmer has pledged to use “every lever that’s available to the government” to help Britons cope with rising costs of living triggered by the US-Israel war against Iran. Speaking during a school visit in London, Starmer said he would chair a Cobra meeting on Monday afternoon with key ministers and Bank of England Governor Andrew Bailey to discuss contingency measures.
The meeting will include Chancellor Rachel Reeves, Energy Secretary Ed Miliband, and Foreign Secretary Yvette Cooper. Starmer acknowledged public concern over the conflict’s economic impact, including soaring energy prices and increased government borrowing costs. “I am asking for every lever that’s available to the government to deal with the cost of living to be discussed at Cobra,” he said.
Downing Street downplayed expectations of immediate financial support for households, indicating the meeting would focus on assessing economic fallout, preventing fuel shortages, and clamping down on profiteering. Economists have warned the crisis could rival the 1970s oil shocks or the effects of Russia’s invasion of Ukraine.
Iran has blocked the Strait of Hormuz, a key oil and gas route, in response to US-Israeli strikes. However, US President Donald Trump extended a deadline for further strikes after claiming “very good and productive conversations” with Tehran. Starmer welcomed any de-escalation, stressing the need to reopen the strait.
Starmer spoke with Trump on Sunday in a 20-minute call described as constructive. The UK has distanced itself from the conflict, refusing use of UK bases for initial attacks and limiting support to strikes on Iranian missile sites. Trump has criticised Starmer’s stance, but the PM emphasised de-escalation and defending British interests without being drawn into war.
