Rachel Reeves has called for immediate de-escalation in the Middle East, citing concerns over rising global oil prices impacting the UK economy. During the launch of Labour's industrial strategy in Nuneaton, she highlighted the potential economic ramifications of ongoing conflict in the region. Reeves revealed government initiatives aimed at alleviating energy costs for families and energy-intensive businesses, including a new scheme to reduce electricity bills by 2027. Alongside Keir Starmer and Jonathan Reynolds, she expressed solidarity with U.S. concerns regarding Iran's nuclear enrichment capacity, advocating for a balanced approach to energy pricing.
We want de-escalation because it's the right thing for the Middle East, but we also want de-escalation because of the ramifications of conflict in the Middle East for the rest of the world, including the UK.
The government has announced a new scheme aimed at cutting the electricity bills of energy-intensive businesses, to come into force from 2027.
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