British Prime Minister Keir Starmer has said the government is monitoring the economic fallout of the US and Israel’s war in Iran, as energy prices soared due to supply disruptions, AFP reports.

“The longer this goes on, the more likely the potential for an impact on our economy, impact into the lives and households of everybody and every business,” Starmer said, speaking at a community centre in London.

“Our job is to get ahead of that, to look around the corner, assess the risk, monitor the risks, and work with others in relation to that.”

The prime minister tried to reassure the public amid deep concerns over prolonged cost-of-living pressures and high energy bills since Russia’s invasion of Ukraine in 2022.

Starmer insisted the government was prepared to handle the economic fallout, with most households protected until summer by a price cap on gas and electricity.