Trump's Iran war complicates UK budget plans

A UK minister warns that Donald Trump's military campaign against Iran is disrupting global oil supplies and making next month's budget harder to plan.

Sep 20, 2026

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Trump's Iran war complicates UK budget plans

A UK minister warns that Donald Trump's military campaign against Iran is disrupting global oil supplies and making next month's budget harder to plan.

In brief

A UK minister warns that Donald Trump's military campaign against Iran is disrupting global oil supplies and making next month's budget harder to plan. Bridget Phillipson says Trump's Iran conflict is creating inflationary pressures that will complicate the chancellor's budget planning next month. Originally reported…

Trump's Iran war disrupts UK finances

Trump's Iran war disrupts UK finances

Bridget Phillipson, Labour chair and minister for women and equalities, says Donald Trump's military campaign against Iran has disrupted global oil supplies, causing significant inflationary pressures that will make next month's budget more difficult.

Burnham to meet Trump at UN summit

Prime Minister Andy Burnham is expected to meet Trump early next week at the UN general assembly summit in New York. The pair have previously spoken twice by phone since Burnham entered number ten.

Burnham's past Trump criticism resurfaces

As Greater Manchester mayor, Burnham said Trump would not be welcome in the city and that UK politicians who indulged him should be ashamed. Phillipson said these comments would not be an issue in their relationship.

Politics and relationships can coexist

Politics and relationships can coexist

Asked about Burnham's past comments, Phillipson told Sky News that people express different views on different topics. She said this is not a bar to having a strong relationship with Trump.

“People will express views at different points on different topics. And that's no bar to having a strong relationship.”

UK chose not to join Iran conflict

Phillipson said the UK took the decision not to involve itself in Trump's conflict with Iran, which was the right call. She contrasted this with what would have happened under Kemi Badenoch and Nigel Farage.

Budget must address cost of living

Phillipson said the economy is in a strong position with good growth figures, but the Middle East conflict has real consequences for businesses and families. The chancellor must give people breathing space on cost of living in next month's budget.

Ratcliffe's criticism dismissed as tax exile

Ratcliffe's criticism dismissed as tax exile

Petrochemicals billionaire Jim Ratcliffe said this week he had lost confidence in the UK due to immigration and taxation levels. Phillipson dismissed his comments, noting that Ratcliffe is resident for tax in Monaco.

At a glance

Bridget Phillipson says Trump's Iran conflict is creating inflationary pressures that will complicate the chancellor's budget planning next month.

Read the original on the Guardian

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