UK faces biggest hit to growth from Iran war of major economies, IMF says

"The war in Iran is not our war, but it will come at a cost to the UK."

— Rachel Reeves , Politician

"A small bit of economic pain for weeks was worth it for the security of eliminating the risk of Iran deploying nuclear weapons."

— Scott Bessent , Executive

"Reeves had no one to blame but herself for the size of the IMF's downgrade."

— Sir Mel Stride , Politician

"Countries including the UK should be very cautious about introducing assistance programmes."

— Pierre-Olivier Gourinchas , Academic

"It is hoped that much of this economic shock will be short-lived, provided the conflict does not drag on."

— Lindsay James , Executive

"Tensions remain ratcheted up [despite the ceasefire]... even with any resolution, things are unlikely to go back to normal and we should now have to get familiar with elevated oil and gas prices for the foreseeable future."

— Lindsay James , Executive

"The war in Iran is not our war, but it will come at a cost to the UK. These are not costs I wanted, but they are costs we will have to respond to."

— Rachel Reeves , Politician

"Being handed the biggest downgrade in the G7 is a clear verdict on Rachel Reeves’ choices — and she’s got no one to blame but herself."

— Mel Stride , Politician

"The war in Iran is not our war, but it will come at a cost to the UK."

— Rachel Reeves , Politician

"A small bit of economic pain for weeks was worth it for the security of eliminating the risk of Iran deploying nuclear weapons."

— Scott Bessent , Executive

"Countries including the UK should be very cautious about introducing assistance programmes."

— Pierre-Olivier Gourinchas , Academic

"Reeves had no one to blame but herself for the size of the IMF's downgrade."

— Sir Mel Stride , Politician