The chancellor has condemned Donald Trump’s decision to launch war against Iran, describing it as “folly” and saying she is “frustrated and angry” about the consequences for UK firms and families.
She said the US had entered the conflict without a clear exit plan, raising concerns about the wider economic and political effects for Britain. The comments came as the government faced renewed pressure over the international security situation and the strain it is placing on households and businesses.
Elsewhere in the political discussion, Liberal Democrat leader Ed Davey was asked why he was calling for an inquiry into Nigel Farage’s investment in a bitcoin firm. Davey said that, by investing in crypto, the Reform UK leader appeared to be copying Donald Trump.
He argued that MPs should be banned from promoting financial services or products. Referring to Farage, Davey said: “He is now promoting this business. The question is, is he persuading people to put money into a risky business?”
Davey said the case showed the need to change the rules for MPs. “MPs should not be allowed to promote specific financial services or products in the way we’re seeing Nigel Farage doing,” he said.
He also linked the debate to wider questions about national security and defence. “We need to get together as a country,” he said. “The defence challenges for our country are so serious, with war on our continent for the first time for a long time, with Russia invading Ukraine, surely that’s been the wake up call that we needed.”
Davey added that the government had not moved quickly enough in response to those circumstances.
The remarks come amid continuing political scrutiny of defence spending, regulation and the wider impact of global instability on the UK economy. The government is under pressure to respond to both the security risks facing Europe and the economic consequences felt at home.
Trump’s decision to go to war with Iran has become a major point of criticism, with ministers warning about the effects on British businesses and households. The issue has also sharpened debate about how the UK should respond to international crises and whether current policies are sufficient to meet the scale of the challenge.
At the same time, the controversy involving Farage has added another layer to the political argument, with calls for stricter rules on how MPs can be associated with financial products and investment schemes. Davey’s comments suggest the issue could become part of a broader debate over conduct, standards and public trust in politics.
With the war in Iran, Russia’s invasion of Ukraine and concerns over defence readiness all feeding into the discussion, the latest exchanges show a government and opposition under pressure to present clear answers on both security and regulation.
