LONDON — Britain is stepping up efforts to protect households from the economic fallout of the Iran war, with officials warning that higher prices could continue for months even after the conflict ends.Chief Secretary to the Treasury Darren Jones said the government was intensifying contingency planning amid concerns that disruption in the Strait of Hormuz could affect global oil and gas supplies.“We’re acting now to prepare for, and mitigate where possible, the impact on our economy and domestic security as a result of the conflict,” Jones said in remarks reported by Sky News.British ministers said there were currently no fuel shortages and urged the public to continue normal purchasing habits.Officials are also holding twice-weekly meetings of a government response group to help keep supply chains stable.Jones told the BBC that price pressure was likely, with households potentially facing higher energy, food, and airline ticket costs.He said the government’s current estimate was that economic effects could continue for more than eight months after any resolution to the conflict.Prime Minister Keir Starmer is expected to chair a Cabinet committee this week to coordinate the national response.The UK is also working with international partners to help reopen the Strait of Hormuz and stabilize global markets.The government said preparedness measures include support options for fuel and energy costs, steps to secure carbon dioxide supplies used by the food industry, and coordination with allies on emergency oil reserves.Jones said Britain would seek to reduce the domestic impact, but warned that global events would still affect households at home.LONDON — Britain is stepping up efforts to protect households from the economic fallout of the Iran war, with officials warning that higher prices could continue for months even after the conflict ends.Chief Secretary to the Treasury Darren Jones said the government was intensifying contingency planning amid concerns that disruption in the Strait of Hormuz could affect global oil and gas supplies.“We’re acting now to prepare for, and mitigate where possible, the impact on our economy and domestic security as a result of the conflict,” Jones said in remarks reported by Sky News.British ministers said there were currently no fuel shortages and urged the public to continue normal purchasing habits.Officials are also holding twice-weekly meetings of a government response group to help keep supply chains stable.Jones told the BBC that price pressure was likely, with households potentially facing higher energy, food, and airline ticket costs.He said the government’s current estimate was that economic effects could continue for more than eight months after any resolution to the conflict.Prime Minister Keir Starmer is expected to chair a Cabinet committee this week to coordinate the national response.The UK is also working with international partners to help reopen the Strait of Hormuz and stabilize global markets.The government said preparedness measures include support options for fuel and energy costs, steps to secure carbon dioxide supplies used by the food industry, and coordination with allies on emergency oil reserves.Jones said Britain would seek to reduce the domestic impact, but warned that global events would still affect households at home.
