An extraordinary meeting of the Cobra Crisis Management Committee has been convened in London by Prime Minister Kir Starmers to focus on the growing economic impact of the escalating conflict with Iran.
Sources in the government said the meeting focused not on military issues but on the pressures already being felt on the UK economy, led by rising energy prices, the rising cost of living and the risk of a resurgence in inflation.
The meeting considered scenarios to tackle obscenity, as well as strengthening the powers of regulators to curb unjustified price rises. At the same time, possible measures to support consumers and ways to ensure the adequacy of energy supply were discussed.
However, no specific interventions were immediately announced, with the government referring to upcoming decisions by the Finance Ministry. The meeting was attended by, among others, senior ministers and the Governor of the Bank of England, underlining the seriousness of the economic challenges.
The British Prime Minister reiterated the need to de-escalate tensions at the diplomatic level, while noting that his government is ready to use “all available tools” to protect the economy.
The conflict in the Middle East is now emerging as a key source of instability for the European economy, with the UK bracing for potential new pressures on energy costs and purchasing power, British analysts note.
