Chancellor Rachel Reeves has condemned Donald Trump’s decision to launch war against Iran as “folly”, saying she is “frustrated and angry” about the effect the conflict is expected to have on UK firms and families.
According to the live politics update, Reeves argued that the United States went into the war without a clear exit plan. Her comments come amid growing concern in Westminster about the wider economic and security consequences of the conflict.
The political discussion in the live blog also turned to Nigel Farage’s investment in a bitcoin firm, after a question was put to Liberal Democrat leader Ed Davey about whether he was right to seek an inquiry.
Davey said that in investing in crypto, Farage — the Reform UK leader — appeared to be copying Donald Trump. He added that he believed MPs should be banned from promoting financial services or products.
“[Farage is] now promoting this business,” Davey said. “The question is, is he persuading people to put money into a risky business?”
He then set out his view that the rules for MPs should change. “And the conclusion I draw from this example is that we 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.
Davey also used the moment to make a broader point about national security and defence. He said the country needed to “get together” in response to the seriousness of the defence challenges facing the UK.
He pointed to war on the continent, saying it was the first time for a long time that Europe had faced such a situation, and referred specifically to Russia’s invasion of Ukraine as the wake-up call Britain needed.
Davey added that the government had not moved quickly enough in light of those circumstances.
The remarks reflect the overlapping pressures now shaping the UK political debate: the international shock of war in the Middle East, concerns about the economic fallout for British households and businesses, and continuing arguments in Westminster over standards, regulation and the conduct of elected politicians.
Reeves’ criticism of Trump and Davey’s attack on Farage both underline how foreign policy and domestic politics are increasingly intersecting in the live debate. The war against Iran has prompted alarm over its potential consequences, while the dispute over Farage’s crypto interests has revived questions about what MPs should and should not be allowed to promote.
As the situation develops, ministers and opposition figures are being pressed to respond not only to the immediate crisis abroad but also to its implications at home, from defence readiness to consumer protection and political accountability.
