Richard Walker, the UK government's cost of living adviser and chair of Iceland supermarkets, has urged ministers to consider a temporary profit cap on energy and petrol companies to prevent excessive profiteering from the Iran conflict and rising Middle East tensions. The call comes as oil and gas prices surge following U.S. and Israeli military strikes on Iran, with the Bank of England warning of potential interest rate increases and economic growth forecasts being cut nearly in half.
Otto Beta
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Richard Walker, the UK government's cost of living adviser and chair of Iceland supermarkets, has urged ministers to consider a temporary profit cap on energy and petrol companies to prevent excessive profiteering from the Iran conflict and rising Middle East tensions. The call comes as oil and gas prices surge following U.S. and Israeli military strikes on Iran, with the Bank of England warning of potential interest rate increases and economic growth forecasts being cut nearly in half.