UK Extends Fuel Duty Cut to Shield Households From Iran War Inflation
β½ LONDON β A tax cut timed to a war tells you who's absorbing the Hormuz bill. π LOOK CLOSER: With Iran war pass-through costs not yet hitting UK consumers, extending fuel duty cut now is fiscal pre-emption β London bracing for autumn inflation, not reacting to it. It also signals Downing Street has no expectation Hormuz reopens soon. Budget space burned now won't be available when the full shock lands.