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The UK government is preparing new measures to prevent profiteering during the Iran conflict, including an 'anti-profiteering framework' and diversifying energy sources. The Chancellor will announce these plans following an emergency Cobra meeting, as global oil prices remain volatile and energy costs rise.
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The UK government is planning targeted support for households facing rising energy bills due to the Iran conflict, rejecting previous broad subsidies. Contingency measures are being prepared, and the regulator will have powers to prevent profiteering, as global oil prices surge and the Strait of Hormuz remains blocked.
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Since 6 March, over 200 mortgage deals for 95% loan-to-value borrowers have disappeared, driven by rising swap rates and geopolitical tensions. Market instability has caused mortgage rates to climb, impacting first-time buyers and those with limited deposits. The trend is expected to continue until market confidence stabilizes.
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On 26 December 2025, British-Egyptian activist Alaa Abd El-Fattah was released from Egyptian detention after years imprisoned for his activism and returned to the UK. His release followed a pardon by Egyptian President Abdel-Fattah el-Sisi and extensive lobbying by UK governments. Historic social media posts calling for violence have since sparked political backlash and calls to revoke his British citizenship.
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The UK government has made multiple policy U-turns this week, including support for pubs, welfare, and business rates, citing listening to public feedback. Critics see these as signs of indecision amid ongoing economic pressures, while officials frame them as responsive governance.
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Recent defections from the Conservative Party to Reform UK highlight ongoing internal conflicts, leadership struggles, and ideological shifts. Kemi Badenoch's leadership faces challenges amid party chaos, while Labour's position weakens. Scotland's political landscape remains volatile, with debates over independence and social issues intensifying as the May elections approach.
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Reform UK has attracted high-profile former Conservative ministers, including Suella Braverman, amid criticism of the party's past policies and leadership. The defections highlight ongoing political realignment and questions over the party's direction and impact on UK politics.
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As of March 19, 2026, mortgage rates in the US and UK have risen sharply due to the Middle East conflict. US 30-year fixed rates climbed to 6.22%, reversing recent declines, while UK lenders withdrew nearly 700 mortgage deals, pushing average rates above 5%. Rising energy costs and inflation concerns are dampening housing market recovery and affordability in both countries.
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The conflict in the Middle East has caused oil prices to spike past $90 a barrel, the highest since 2024, driven by threats to supply routes and production halts. Markets fear prolonged disruption will fuel inflation, impact energy costs, and threaten economic stability globally, especially in the UK and Europe.
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Nigel Farage has invested £215,000 in Stack BTC, a London-based crypto company chaired by Kwasi Kwarteng. The investment, part of a £260,000 fundraise, aligns with Farage’s advocacy for Bitcoin and UK ambitions to become a crypto hub amid regulatory changes and market volatility.
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A comedy sketch aired on the UK version of Saturday Night Live depicts UK Prime Minister Keir Starmer as fearful of a call from US President Trump. The skit, shared by Trump on social media, satirizes UK-US relations during the Middle East tensions and the energy crisis caused by the Strait of Hormuz blockade.