UK talking to partners about limiting economic impact of Iran crisis, says PM

LONDON, March 9 (Reuters) - British Prime Minister Keir Starmer said on Monday that his government was talking to ​international partners about what can be done to ‌reduce the economic impact of the Iranian crisis on people and businesses.

Britain faces bigger risks from a jump in inflation driven ​by the conflict in the Middle East than ​many other European countries, putting pressure on Starmer ⁠to try to reassure British consumers and businesses.

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“The job ​of government is obviously to get ahead, look around ​the corner, to work with others,” Starmer said at an event in London, adding that the government was “talking to our international partners, ​as well, about what more we can do together ​to reduce the likely impact on people here”.

Since the outbreak of ‌the ⁠war in Iran last week, British government borrowing costs have soared by more than those of other European countries and the United States, and investors have scaled back ​their bets ​on the Bank ⁠of England cutting interest rates this year.

Starmer said it was important to acknowledge that ​work was needed to try to limit ​the ⁠economic impact of the war, as oil prices surged on Monday.

“People will sense, you will sense, the longer this ⁠goes on, ​the more likely the potential ​for an impact on our economy,” he said.

Reporting by Sam Tabahriti, writing ​by Sarah Young; Editing by Kate Holton and Michael Holden

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