Iran: Israel

Treasury written question – answered am ar 23 Ebrill 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Tan Dhesi Tan Dhesi Shadow Minister (Exports)

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of the conflict between Iran and Israel on (a) global economic stability, (b) oil prices and (c) inflation.

Photo of Bim Afolami Bim Afolami The Economic Secretary to the Treasury

HM Treasury is monitoring the situation closely following Iran’s attack against Israel. The UK is working urgently with our allies to de-escalate the situation.

The Office for Budget Responsibility (OBR) estimated the potential UK economic impacts of a widening of conflict in the Middle East in their March 2024 Economic and Fiscal Outlook (https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/ ).

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