Rachel Reeves has condemned Donald Trump’s decision to launch war against Iran, describing it as “folly” and saying the United States entered the conflict without a clear exit plan.
The chancellor said she was “frustrated and angry” about the effect the decision could have on UK firms and families. Her comments came as ministers and opposition figures continued to react to the wider international and domestic political consequences of the move.
The criticism was part of a fast-moving political day in Westminster, where the government also faced pressure over defence, regulation and the responsibilities of elected politicians.
Davey targets Nigel Farage over bitcoin firm
Elsewhere, Liberal Democrat leader Ed Davey was questioned about why he was calling for an inquiry into Nigel Farage’s investment in a bitcoin firm. Davey said Farage, the Reform UK leader, appeared to be copying Donald Trump by investing in crypto.
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 example showed why the rules for MPs needed to change.
“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 stronger defence action
Davey also used the discussion to warn about the state of Britain’s security. He said the country needed to “get together” in response to serious defence challenges.
He pointed to war on the continent “for the first time for a long time” and Russia’s invasion of Ukraine as the wake-up call the government should have heeded. He added that ministers had not moved as quickly as they should have done in light of those circumstances.
The comments reflected continuing debate over how Britain should respond to the worsening security environment in Europe, as well as the political arguments now being made over leadership, regulation and the handling of public responsibilities.
Reeves’s remarks about Trump’s decision added another layer to that debate, linking foreign policy choices overseas with their economic consequences at home.
The chancellor’s language underscored the concern in government about the impact on businesses and households in the UK, while opposition leaders used the same political moment to press their own arguments on financial conduct and defence readiness.
As the live political coverage continued, the focus remained on the combined pressures of war abroad, economic uncertainty and the standards expected of politicians in public life.
