Starmer acknowledges concerns as Iran war threatens to impact cost of living

Sir Keir Starmer will promise to protect Britons from the economic impact of the Middle East conflict as oil prices soared.

The Prime Minister will acknowledge people’s concerns about the threat of rising bills in the wake of the US-Israeli assault on Iran and Tehran’s reprisals against countries across the region.

Ahead of a visit to a community centre in London on Monday, Sir Keir said “supporting working people and their families with the cost of living is always top of my mind”.

Asian markets plunged early on Monday as oil prices soared to about 114 dollars (£85.50) a barrel due to disruptions stemming from the conflict.

US President Donald Trump sought to play down the impact of the turmoil he has unleashed, insisting the prices will “drop rapidly when the destruction of the Iran nuclear threat is over” and were a “very small price to pay”.

“ONLY FOOLS WOULD THINK DIFFERENTLY,” he asserted in a post on his Truth Social platform.

After Iran’s supreme leader was killed in an Israeli strike at the start of the war, his son Mojtaba Khamenei was named as his successor on Sunday, in a move likely to draw the ire of Mr Trump, who has previously said he would be an “unacceptable” pick.

Most UK households will be protected from the impact of rising energy prices in the short term by the energy price cap.

But rising oil prices will feed through to higher costs at petrol stations.

And the risk of high energy costs pushing up inflation means the Bank of England is now unlikely to cut interest rates this month, as had previously been expected.

Finance ministers from the G7 group of leading democracies, including Chancellor Rachel Reeves, are expected to meet virtually on Monday to discuss the crisis.

The Financial Time reported the ministers will discuss a possible joint release of petroleum from reserves co-ordinated by the International Energy Agency in an attempt to reduce the economic shock.

Sir Keir said: “People are also rightly worrying what this means for life at home – their bills, their jobs, their communities.

“I want to address those concerns head on. I will always be guided by what is best for the British public. And no matter the headwinds, supporting working people and their families with the cost of living is always top of my mind.

As the conflict continues, Sir Keir said the UK is “working round the clock to keep British citizens safe” and acknowledged that Britons at home are “worried sick” for friends and family.

“Staff are on the ground to support those in need, government-provided flights are helping people get home, and our tireless armed forces are flying across the region to defend our allies and our interests,” he said.

Sir Keir spoke to Mr Trump over the weekend about the countries’ military co-operation in the region, in what appeared to be a positive signal a day after the US president lashed out at him in a social media post and suggested the UK’s help was too late.

Mr Trump has repeatedly hit out at Sir Keir’s decision not to grant permission for the first wave of military action against Iran.

The Prime Minister later granted permission for “defensive” US action against Iranian missile sites from UK bases and American bombers have begun operations from RAF Fairford.

After reports the UK was preparing the HMS Prince of Wales aircraft carrier to go to the Middle East, Mr Trump said “we don’t need them any longer” and that “we don’t need people that join Wars after we’ve already won!”.

No decisions have yet been taken to deploy the warship.

Lib Dem leader Sir Ed Davey has urged the Prime Minister to call off the King’s state visit to the US over Mr Trump’s “illegal war” and as the US leader “repeatedly insults and damages our country”.

Meanwhile, UK forces engaged an attack drone fired from Iran to Iraq as RAF Typhoons and F-35 jets conduct defensive sorties across the region.

And a Merlin helicopter that can fly up to a mile in height and give advance warning of incoming drones or missiles is due to join.

A third Government charter flight to bring Britons home from the region was due to leave Muscat, Oman, on Sunday just before 7pm UK time and there are plans to charter a commercial flight from Dubai early this week.

More than 32,000 British nationals have now left the region, which includes the Gulf countries as well as Israel and Lebanon, by air since March 1.

Elsewhere, French President Emmanuel Macron is due to travel to Cyprus on Monday, where he will meet with Cypriot President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis.

Britain has faced criticism from allies over the defence of Cyprus, where a UK base was struck by a drone last week.