Rachel Reeves has condemned Donald Trump’s decision to launch war against Iran, describing it as “folly” and saying the move has left her “frustrated and angry” because of the effects on UK firms and families. She said the US had gone into war without a clear exit plan.
The comments came during a live UK politics update that also featured questions about Nigel Farage’s investment in a bitcoin firm and wider debate over the country’s defence and security challenges.
Reeves criticises the war decision
The Chancellor’s remarks focused on the consequences for the UK, particularly the strain placed on businesses and households. She argued that the US decision lacked a clear plan for how the conflict would end.
Her criticism of Trump’s action added to the growing political fallout from the escalation, with ministers and opposition figures weighing in on what the war could mean for Britain’s economy and security.
Davey presses for new rules on MPs and financial promotions
Elsewhere in the live discussion, Liberal Democrat leader Ed Davey was asked why he wanted an inquiry into Nigel Farage’s investment in a bitcoin firm.
Davey said that in investing in crypto, Farage, the Reform UK leader, seemed to be copying Donald Trump. He also argued that MPs should be banned from promoting financial services or products.
“He is now promoting this business,” Davey said. “The question is, is he persuading people to put money into a risky business?”
He added that the example 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.
Calls for urgency on defence
Davey also used the moment to highlight the seriousness of the defence situation facing the UK and Europe. He said there needed to be greater national unity in response to the threats.
“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.”
He criticised the government for moving too slowly in response to those pressures, saying it had not gone as fast as it should have given the circumstances.
The comments reflected the wider political mood around security, defence spending and Britain’s role in a more unstable international environment. With war in Europe still under way and tensions heightened by the conflict involving Iran, the debate has sharpened over how quickly the government should respond.
The live update brought together several strands of the current political agenda: the immediate impact of war abroad, the regulation of political figures’ financial activity, and the pace of government action on defence. All three themes are likely to remain central to debate in Westminster in the days ahead.
