Question to the Department for Business and Trade:

To ask His Majesty's Government what assessment they have made of the impact on the UK economy of the conflict in the Middle East, including impact on energy prices, trade and inflation; and what steps they are taking to ensure economic resilience.

Government is closely monitoring the potential impact of disruption to trade and the wider economy. As with the conflict itself, there remains uncertainty about the scale and duration of the resulting economic and trade shock.

The UK has a diverse and resilient energy system, and Government has already taken action on energy prices, including allocating £50m for heating oil support for low‑income households and expanding the forthcoming British Industrial Competitiveness Scheme (BICS).

Rapid de-escalation in the Middle East remains the best way to protect the UK economy. Government continues to work internationally to support a diplomatic solution to the conflict.