Middle East crisis live: US proposal to end war a ‘wishlist, not a reality’, warns Iranian official

Foreign ministry spokesman’s statement follows Trump’s threats to escalate bombing if Iran doesn’t agree deal and IRGC suggestions the strait of Hormuz could reopen

The UK work and pensions secretary, Pat McFadden, has warned that job losses “could happen” in Britain due to the economic impacts of the Iran war.

He said the UK economy was “going in the right direction” at the start of the year and unemployment figures for February showed a decline. He added that interest rates were expected to come down and the markets were pricing in cuts during the course of the year.