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UK government borrowing fell to a three-year low, but analysts warn the fiscal improvement is unlikely to last as the impact of the Iran war on government finances has yet to fully materialise.
UK government deficit narrowed to its lowest in three years, but a fall in fuel duty revenues signals the Iran war's coming impact on public finances. Analysts warn the improvement is temporary and cost pressures will soon emerge.
European government officials warn that the Iran-US war's energy crisis could keep prices elevated for months across the continent. Authorities are monitoring stock levels and preparing for potential supply chain disruptions. Energy market uncertainty persists.