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Starmer refuses to say if Rachel Reeves will remain as chancellor

A new report warns Britain is projected to lose 163,000 jobs this year, representing a 0.4% decline in overall employment.

The job losses are primarily attributed to the economic fallout from the Iran war, leading to increased energy prices, supply chain disruptions, and reduced consumer spending.

Lower-income regions, particularly South Wales and the Humber, are forecast to be the most severely affected due to their reliance on manufacturing and construction.

Major cities including London, Birmingham, Leeds and Glasgow are also expected to see significant job reductions, especially within the retail and hospitality sectors.

The government acknowledges the impact of the Middle East conflict but highlights recent labour market improvements and outlines measures to support manufacturers and…