Iran War's Price Tag for Britain: £2,400 Per Household and a Reshuffling of the Global Chessboard

The Centre for Economics and Business Research has calculated that the average UK household will suffer a £2,400 financial hit by the end of 2027 due to the Iran war, with £1,100 knocked off real incomes in 2026 and a further £1,300 in 2027. The Treasury is now weighing windfall taxes on banks and oil firms as a result.

Off the Record

The economic shock is arriving through two distinct channels: direct costs through energy bills and prices, and indirect impacts...