This is how the Iran war will impact the UK
The economic consequences of the continued closure of the Strait of Hormuz could bite Britain hard enough to force Labour into public spending cuts, economist David Lubin has told the Daily Mail's Deep Dive podcast.
Lubin, a senior research fellow at Chatham House and former head of emerging markets at Citi, argued that wealthy economies have yet to really feel the economic fallout of the Iran war, insulated so far by stockpile drawdowns, alternative pipeline routes and a global economy far less oil-hungry than during the energy crisis of the 1970s.
He told Daily Mail foreign correspondent Chris Pleasance that the longer the Strait remains closed, the worse the shock will be for the global economy.
Listen to the latest episode of Deep Dive for all this and more. Out now, wherever you get your podcasts.
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