The chancellor has condemned Donald Trump’s decision to launch war against Iran, describing it as “folly”, and said he was “frustrated and angry” about the consequences for UK businesses and households.
He argued that the US had gone into war without a clear exit plan, raising concerns about the wider economic and political fallout for Britain. The comments came amid a live politics update focused on the government’s response to a series of fast-moving domestic and international issues.
In the same update, 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.
Davey said he believed MPs should be banned from promoting financial services or products. He questioned whether Farage, who is now promoting the business, was persuading people to put money into a risky venture.
“The question is, is he persuading people to put money into a risky business?” Davey said.
He added that the episode showed the need to change the rules for MPs so they should not be allowed to promote specific financial services or products in the way he said Farage was doing.
Davey also used the moment to call for national unity on defence and security. He said the defence challenges facing the country were serious, pointing to war on the continent for the first time in a long time and Russia’s invasion of Ukraine.
“We need to get together as a country,” Davey said, arguing that those events should have been a wake-up call. He also said the government had not moved as quickly as it should have in response to those circumstances.
The exchange formed part of a broader debate about defence spending, the government’s pace of reform, and how UK leaders should respond to instability abroad and pressure at home. The live coverage continued with further political developments and reactions.
