Although the eventual impact of the escalating war in the Middle East is unknowable, we do know that it is already adding to cost of living pressures, that inflation and the path of interest rates will be higher, and that growth rates for GDP and disposable incomes will be lower (and may turn negative). The Resolution Foundation is hosting a pair of events in April to unpack what the effects of the war are on the UK economy, and how policy makers should respond. This second event will focus on the wider outlook for the economic and public finances. How much might the war reduce the UK’s growth prospects? What fresh policy support might be needed in the face of a potentially acute and prolonged price shock? How will this affect interest rates and mortgages? And what might an outlook for lower growth, higher inflation, higher debt servicing costs and fresh policy support mean for the public finances, and the Chancellor’s fiscal rules? Following a presentation of wider domestic economic implications of the war in the Middle East, the Foundation will be joined by leading experts in their fields to discuss what might unfold, and how the Government and Bank of England should respond. The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido. And if you haven’t already, sign up for the first in this series of events here.
