"Starmer emphasized the need for a high-level meeting to address significant national concerns, stating, 'Cobra is the opportunity at the highest level to bring people together on matters of real, significant national importance.'"
"He expressed the urgency of the situation, saying, 'I want to reassure Britons that everything is being done to mitigate the economic effects of the conflict, which has resulted in energy prices soaring and the cost of government borrowing also rising.'"
Keir Starmer is set to convene an emergency meeting with senior ministers to address the economic impacts of the US-Israel war against Iran. He aims to reassure the public that measures are being taken to mitigate rising energy prices and government borrowing costs. The Cobra committee will discuss potential contingency measures, with key figures including the Bank of England governor and the chancellor present. Economists warn that the conflict's effects could rival the 1970s oil price shocks and the repercussions of Russia's invasion of Ukraine.
Read at www.theguardian.com
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