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Prime Minister Keir Starmer announces cost of living action as prices soar

Starmer said 450,000 children will be lifted out of poverty as the government targets households hit by higher fuel and energy costs.

  • On Wednesday, Prime Minister Keir Starmer announced an emergency five-point plan to combat the energy crisis, including cutting household energy bills by over £100 and extending fuel duty freeze until September.
  • The conflict, now in its fifth week, has seen Iranian forces block the Strait of Hormuz, cutting off 20 percent of the world's total oil and straining British households with soaring fuel costs.
  • Analyst Cornwall Insight warns that typical dual fuel household bills could surge to £1,929 by July, an 18 percent increase, while the government set aside £53 million for heating oil support.
  • Foreign Secretary Yvette Cooper will host international leaders later this week to assess 'viable diplomatic and political measures' for restoring freedom of navigation through the Strait of Hormuz.
  • Maintaining that the conflict is 'not our war,' Starmer emphasized the UK will not be 'dragged into' the Iran crisis while pursuing closer economic and security partnerships with the European Union.
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Financial Post broke the news in Canada on Wednesday, April 1, 2026.
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