March 23, New Delhi: UK Prime Minister Keir Starmer is scheduled to chair an emergency meeting on Monday to review the economic consequences of the ongoing war in Iran.
The meeting will be attended by Finance Minister Rachel Reeves, Governor of the Bank of England Andrew Bailey, Foreign Secretary Yvette Cooper, and Energy Secretary Ed Miliband.
In addition to assessing the economic impact of the crisis, the leaders will also discuss energy security and the resilience of industry and supply chains, and review the international response.
Last week, the government announced a £53 million support package for households that rely on heating oil.
However, calls for broader measures have increased concerns among bond market investors.
On Friday, British 10-year government borrowing costs rose above 5% for the first time since the global financial crisis nearly two decades ago.
Earlier, the central bank had stated that it stands ready to take action to keep inflation aligned with its 2% target.
