Reeves calls for Middle East de-escalation amid oil price fears | Economic policy

Rachel Reeves called for an increase in the conflict in the Middle East and said that rising global oil prices could reach the UK economy while explaining Labour’s long -awaited industrial strategy.

Reeves started the policy package in an engineering business in Nuneaton with Keir Starmer and Business Secretary Jonathan Reynolds and accepted the potential impact on conflict companies.

“This is true for the Middle East because it is only for the Middle East, but we want the conflict in the Middle East to increase due to the consequences of the rest of the world, including England,” he said.

“We have seen increases in oil prices, in recent days and of course in the weeks of the UK economy,” he added.

“We have expanded the hot home discount to get money from people’s energy bills and get money from people’s energy bills.”

Reeves also understands Iran’s concerns about the risk of developing nuclear talent, “60% of the uranium is not for civilian nuclear. And we have shared these concerns for a long time.”

As part of the industrial strategy, the government announced a new plan aimed at cutting the electricity bills of energy -intensive enterprises and entered into force from 2027.

Reynolds said that the energy plan will ensure that Britain’s energy prices in Europe are “contrary” in the middle of the package ”.

Energy intensive enterprises in the UK has long complained that electricity bills have been competitively high.

Reynolds and Reeves said that the government aims to finance the plan by spreading the costs of “difference contracts ği paid for renewable energy production for a longer period of time, and earned income from the increasing carbon prices from the emission trade plan.

“We are talking about a major change in the competitiveness for the sectors covered by the new British industrial competitive plan: the cheaper Czech Republic can be compared with Germany on a large scale,” he said.

“For any other person, there is no effect on tax or borrowing from these policy interventions that will create Headroom to allow us to exempt these businesses by the increase in bills and the energy department.”

The business secretary also emphasized the cross-whitehall nature of the industrial strategy, which includes eight sectors, which the government considers as an important growth potential, including advanced production, financial services and creative industries.

The government has published three more expected before the Parliament’s recession next month – with the industrial strategy, along with life sciences, defense and financial services, as well as five of the eight sectors on Monday.

“This is not only the real, important interventions that are not very important on their own, the essence of what I want, not the department of work and trade or treasury industrial strategy, but this is the industrial strategy of the British government,” he said.

Reynolds also emphasized a new approach to the preparation of strategic sites for investment, a significant increase in the budget for the taxpayer British business bank with taxpayer, announced in the last expenditure examination and the authority of the mayors of the metro’s economic development.