The UK government cut its 2026 growth forecast on Tuesday, as Britain’s finance minister delivered a fiscal update overshadowed by concerns over the economic fallout from the Iran war. The Spring Statement spending update came as the Labour government struggles to boost sluggish economic growth, now threatened further by the widening Middle East conflict, pushing up energy prices. Finance minister Rachel Reeves said the government’s economic plan was “even more important in a world that in the last few days has become yet more uncertain with unfolding conflict in Iran and the Middle East”. Britain’s economic growth is expected to slow to 1.1 percent in 2026, down from the previous estimate of 1.4 percent made in November when Labour presented its annual budget. The UK economy grew 1.3 ...