UK staring down barrel of economic crisis - caused by Trump's reckless Iran war

 None of us wanted to be here. But Britain is staring down the barrel of another economic crisis - one caused by Donald Trump’s reckless and illegal war with Iran.

It’s vital we de-escalate this conflict. But the longer it goes on the more important it is that we prepare - and act fast. That means learning the lessons from the past. When Covid struck in March 2020 - after calls from unions - government brought us together with employers and we acted in the national interest.

The furlough scheme protected millions of jobs. Businesses stayed afloat. Families got through. That kind of social partnership wasn’t a nice-to-have, it was essential. And we need it again now.

Because this crisis isn’t on the horizon- it’s already here. Gas prices in Europe have more than doubled. Oil prices have surged. Supply chains are under real strain with warnings that action is needed now to keep essential goods flowing. And across key British industries - especially energy-intensive sectors like steel, chemicals and heavy manufacturing - the pressure is building by the day.

• Keir Starmer to hold emergency COBR meeting as Iran war cost of living concerns grow

• UK minister insists 'no assessment' Iran is targeting European capitals

That’s why the TUC is calling for an emergency taskforce to bring unions, employers and ministers back around the table. We know what works - act early, work together and put working people first.

Because let’s be clear - this isn’t just about preparing for the worst. Even if the conflict ends tomorrow some costs are already baked in. Higher inflation, rising mortgage rates and more pressure on family budgets and business balance sheets. The damage has begun.

The government must pull every lever to support jobs and living standards. That means strengthening public services, helping households and businesses with energy costs, and getting on with the government’s Defence Investment Plan and industrial strategy.

Across all of this the priority must be protecting and securing as many good-quality, unionised jobs as possible. Support must also come with clear conditions. If taxpayers’ money is used, it should be for protecting jobs - not profits. It should be for keeping factories and sites open - not allowing closures that would hollow out communities.

We’ve been tested like this before. And we have proved that when we work together we can shield people from the worst.

But if we hesitate it’s working people who pay the price. So let’s be clear - working families must not be forced to pay for Trumpflation with their jobs, their wages, their services or their futures. Not now. Not ever.