ECONOMIC SHOCK: UK considers food price controls amid Iran war fallout

How bad is the economic hit from the Iran war going to be? If the talk around price caps on essential food items, and lifting sanctions on Russian oil and gas are anything to go by, then it could be very bad indeed.

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The government says any price freeze will be voluntary after supermarket bosses called the idea ‘preposterous’ and ‘nonsense.’ But plans to continue to allow diesel and jet fuel to be imported into the UK from Russian oil refined in other countries will go ahead. The Conservatives call this a ‘betrayal of Ukraine.’

On this episode of the Fourcast, Jackie Long is joined by Channel 4 News' Economics Reporter Neil Macdonald, the economist Vicky Pryce and Tom Keatinge, the founding director at the Centre for Finance and Security at the think tank RUSI.

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