Iran war could cost Treasury up to £8bn a year, finds IPPR (opens in new tab)

Prolonged conflict in the Middle East could cost the Treasury up to £8 billion a year through higher debt interest payments and lost tax revenueThink tank says inflation could peak as high as 5.8 per cent, and urges government to act to prevent Bank of England interest rate increases and hits to growthIPPR recommends a temporary energy price cap at £2,000 to target the most severe scenarios and a 10p fuel duty cut, alongside lower speed limits to help reduce energy demandA new report from the...