BY SCM CORRESPONDENT
BLACKPOOL — Prime Minister Keir Starmer has delivered a sobering warning to the British public, stating that the economic “aftershocks” of the conflict in Iran will be felt for the foreseeable future.
Speaking Monday at the Usdaw trade union conference in Blackpool, the Prime Minister moved to “level” with working families about the rising cost of living, pointedly referencing the record-breaking prices currently seen at petrol stations across the country.
”The truth is the economic consequences could still be with us for some time,” Starmer told delegates. “You don’t need to be a politician to know that; you can see it on every petrol forecourt across the country.”
The Prime Minister’s comments come as global oil prices remain volatile following the disruption of the Strait of Hormuz. In response to the deepening domestic crisis, Starmer confirmed he will chair a meeting of the emergency Cobra committee tomorrow.
The meeting will include senior representatives from the Bank of England to assess the threat of rising inflation. Current projections suggest that Consumer Price Inflation (CPI) could climb to 3.5% in the coming months, fueled primarily by a 10% to 20% surge in fuel costs since the conflict began in late February.
While reiterating that the UK remains committed to a policy of non-combatant de-escalation, Starmer emphasized that the government’s priority is protecting “working people” from the fallout.
”I have to level with you about Iran,” the PM stated. “We will stand by working people in this crisis, but we cannot ignore the reality of the situation at the pumps.”
The Prime Minister’s address coincided with Brent Crude trading at approximately $106 per barrel, a price point that has effectively stalled previously anticipated interest rate cuts.
Analysts suggest that the “joint effort” between the government and industry leaders, which Starmer called for earlier this month, will be critical if the UK is to avoid a significant dip in GDP growth for the remainder of 2026.
Government officials are expected to provide a further update on maritime security plans for the Gulf following tomorrow’s Cobra deliberations.
