Will the Iran war worsen the cost of living crisis?
This Is Why
Sky News
4.0 • 552 Ratings
🗓️ 3 March 2026
⏱️ 17 minutes
🧾️ Download transcript
Summary
Rachel Reeves may have delivered her Spring Forecast – but have events in the Middle East made the chancellor’s announcement redundant?
With President Trump predicting the Iran conflict could continue for a further four to five weeks, the world is starting to realise the economic consequences.
Global oil and gas prices are spiking and fuelling the threat of higher inflation and interest rates.
Niall is joined by Sky’s economics and data editor, Ed Conway, to discuss the effects on the UK economy – and why you might be feeling the pinch.
Have you got a question for Niall? Email the show – why@sky.uk
Transcript
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| 0:00.0 | Sky News, the full story first. |
| 0:09.9 | The Chancellor's spring forecast might not be worth the paper it's written on, and this is why. |
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| 1:29.7 | Hi everyone, Neil here. |
| 1:31.5 | I'm wondering if you might just feel a little anxious. |
| 1:34.7 | After all, the war with Iran is threatening to push the global economy off a cliff. |
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