British Prime Minister Keir Starmer will promise on Monday to support “working people” with cost-of-living pressures worsened by the conflict in the Middle East, warning companies not to try to “exploit this crisis” by increasing prices.
In his latest attempt to ease concerns in Britain about the impact of the conflict that has effectively shut the Strait of Hormuz, a vital waterway for oil and liquefied natural gas, Starmer will tell the British public his first priority is “to help you with the cost of living through this crisis”.
On Saturday, finance minister Rachel Reeves said the government was looking to provide “targeted” support for poorer households after coming under pressure to cap regulated household energy tariffs and scrap a rise in vehicle fuel duty.
A government source confirmed a Financial Times report that the government will set out a 50-million-pound ($66.11 million) package for the most vulnerable households, targeting those mainly in rural areas who rely on heating oil.
“It’s moments like this that tell you what a government is about. My answer is clear. Whatever challenges lie ahead, this government will always support working people,” Starmer will say according to excerpts from his speech released by his office.
Addressing reports that suppliers of heating oil were cancelling orders and increasing prices, he will say: “I will not tolerate companies trying to exploit this crisis to make money from working people … If the companies have broken the law, there will be legal action.”
It was not the first warning to energy companies from the government, which summoned petrol retailers on Friday for a “frank and open” conversation on pricing – a meeting which almost failed to happen when the Petrol Retailers Association threatened to pull out over ministers’ “inflammatory language”.
In an interview published by The Times on Saturday, Reeves said the government was looking at options to help those vulnerable to sharp rises in energy prices, especially those who relied on heating oil, but ruled out universal help for all households, saying it would be unaffordable.
Overall, Starmer and his team say the easiest way to end the energy price spike is to de-escalate the situation.
“We will continue to work towards a swift resolution of the situation in the Middle East,” he will say. “Because there is no question that ending the war is the quickest way to reduce the cost of living.”
($1 = 0.7563 pounds)
(Reporting by Elizabeth Piper）
