Iran War May Erase Most of Reeves’ Buffer, UK Study Says

The war in Iran could wipe out most of Rachel Reeves’ fiscal buffer, according to new research pointing to a £16 billion ($22 billion) hit to Britain’s public finances.

The Resolution Foundation said the conflict would erase almost three-quarters of the Chancellor of the Exchequer’s headroom against her key fiscal rule under a “severe but plausible scenario” in the Middle East conflict.