War in the Middle East rendered the Chancellor’s Spring Statement “irrelevant” according to City analysts as the economic impacts of the Iran conflict become frighteningly clear.

Rachel Reeves made just a passing mention of the Iran war when she addressed MPs on Tuesday, referring briefly to global instability while trying to paint a picture of domestic economic harmony.

I can’t sugar coat it; the Chancellor appeared out of the loop, out of depth and out of ideas. 

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