The Resolution Foundation has urged Labour to implement an emergency plan to cut energy prices by up to £175 for low-income families this winter, amid rising wholesale gas costs and ongoing cost-of-living pressures.
Andy Burnham, the incoming Prime Minister, surprised many by appointing John Healey as Chancellor, despite intense lobbying for other candidates like Ed Miliband, Shabana Mahmood, and Rachel Reeves. Healey's selection signals a focus on borrowing rules, re-industrialisation, devolution, and increased defence spending, potentially through "defence bonds."
Oil prices surged Friday as US-Iran tensions flared, reversing earlier declines. US strikes on Iranian targets prompted accusations of ceasefire violations, escalating fears over the vital Strait of Hormuz. This geopolitical volatility overshadows concerns about suspicious trading activity linked to policy announcements, impacting global energy supplies and inflation.
