Question to the Foreign, Commonwealth & Development Office:
To ask the Minister of State, Foreign, Commonwealth and Development Office, what assessment he has made of the potential impact of Houthi militant attacks on commercial shipping in the Red Sea on the cost of living in the UK.
Since November, due to Houthi attacks, 12 international shipping companies have been forced to suspend passage through the Red Sea, causing lengthy delays and disruption to global supply chains. This has included causing insurance premiums for shipping to increase ten-fold; although, this only contributes a small fraction of total costs passed onto the end-consumer. These attacks therefore present a risk of increased prices for consumer goods and energy.
Be assured that the Government is working closely with shipping operators to mitigate any potential impact on consumers, and the shipping and supply chain sectors are well practiced at putting contingencies in place to continue to meet their customer needs.
The Government continues to monitor the situation closely.