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00:00Good morning. The conflict in Iran and across the Middle East is now entering its third week.
00:08So I want to take a moment to set out how we're responding to this crisis and standing up for
00:16the British people.
00:17Our priority is always the national interest.
00:22And so we have been clear and consistent in our objectives throughout this conflict.
00:29First, we will protect our people in the region.
00:34Second, while taking the necessary action to defend ourselves and our allies, we will not be drawn into the wider
00:45war.
00:46And third, we will keep working towards a swift resolution that brings security and stability back to the region
00:56and stops the Iranian threat to its neighbours.
01:01I want to see an end to this war as quickly as possible.
01:05Because the longer it goes on, the more dangerous the situation becomes.
01:12And the worse it is for the cost of living back here at home.
01:18In recent days, I've visited community centres in England and Northern Ireland.
01:24And I know people are really worried about what this means for them.
01:31And look, I grew up working class in the 1970s.
01:35I remember how it feels when you're struggling to make ends meet.
01:39It's a knot in your stomach every time the bills come through the door.
01:45And that's at the forefront of my mind in meeting this crisis.
01:51So in a moment, I'll set out what we're doing to help people with the cost of living.
01:56But let me first give you an update of what we're doing in the region.
02:01We continue to work around the clock to help our people in the Middle East.
02:07As of this morning, over 92,000 British nationals have returned to the UK on commercial and government charter flights.
02:17Now that work continues, including to support British citizens in Lebanon.
02:23Our armed forces are working 24-7 to protect British lives and British interests and support our Gulf partners.
02:34We have thousands of servicemen and women in Cyprus and across the region.
02:40Three squadrons of fighter jets working alongside counter-drone teams to intercept Iranian attacks.
02:47They are protecting our people, our bases and our allies, night and day.
02:56And I pay tribute to all of them.
03:01We're also continuing our diplomatic response.
03:04The Foreign Secretary has been in the region in recent days.
03:08I'm in close contact with leaders from across the Gulf and Europe and beyond.
03:13I met Prime Minister Carney earlier this morning and I'll be meeting President Zelensky soon.
03:21Because it's vital that we continue to focus on supporting Ukraine.
03:28We cannot allow the war in the Gulf to turn into a windfall for Putin.
03:36Now, it's clear the US operation has massively weakened the military capability of the abhorrent regime in Iran.
03:47The question is, what comes next?
03:51When the fighting stops, we are going to need some sort of negotiated agreement to constrain the threat posed by
04:01Iran,
04:02to limit their ability to rebuild their nuclear program, to pose a ballistic missile threat and arm their proxy militias,
04:10and limit the threat to international shipping, which is hitting global supplies of oil, of gas and fertiliser,
04:21which is pushing up prices here at home.
04:26Now, we've already acted alongside other countries to release emergency oil stocks at a level that is completely unprecedented.
04:35But ultimately, we have to reopen the Strait of Hormuz to ensure stability in the market.
04:45That is not a simple task.
04:50So, we're working with all of our allies, including our European partners,
04:55to bring together a viable collective plan that can restore freedom of navigation in the region as quickly as possible,
05:05and ease the economic impacts.
05:09Now, because of the decisions that we have taken,
05:13the British economy is better placed than it otherwise would have been to weather the storm.
05:20Since the election, we've built up our national resilience.
05:25We are delivering the biggest uplift in defence spending since the Cold War.
05:30We're investing in clean British power to boost our energy security
05:35and protect people working from volatile fossil fuel markets.
05:41And because we have brought stability back to our public finances,
05:46stability that I will never put at risk,
05:50we are in a better position today than we were at the start of the Ukraine war four years ago.
05:57Now, back then, inflation was 5% and rising.
06:02We brought it down to 3% today.
06:06And this isn't just about dry economics.
06:10It's about values.
06:13We built this resilience for a reason.
06:17To give us the space to act, to support working people,
06:21and shelter our country from the shocks,
06:25the volatility that is buffeting our world.
06:30And we are active.
06:33So this morning, I want to set out five steps
06:36that we're taking to tackle the cost of living.
06:41First, we have capped energy bills until the end of June,
06:47saving the average household £117.
06:53Now, that's in addition to the warm homes discount of £150
06:58for the most vulnerable in society.
07:02No matter what happens now in energy markets,
07:06in three weeks' time,
07:08your energy bills will be cut and then capped
07:12for the next three months.
07:15And I can announce today that we're giving a legal direction
07:19to the energy companies
07:21to ensure that every penny of the savings
07:24that we delivered through last year's budget
07:27is passed directly onto customers
07:31to keep bills as low as possible.
07:36Second, we have extended the cut in fuel duty
07:40until September.
07:42And we've introduced the cheap fuel finder,
07:45forcing petrol stations to publish their live prices
07:50to make it easier for drivers to choose the lowest price.
07:55Now, let me be really clear on this.
07:59Back in 2022, when prices spiked
08:03because of the conflict in Ukraine,
08:07I campaigned for a windfall tax
08:10on oil and gas companies.
08:12And we have raised it in government
08:15to ensure that companies can't profit
08:18from spikes in prices like these.
08:21And that money will go back into people's pockets.
08:26I simply will not allow companies
08:28to make huge profits
08:29from the hardship of working people.
08:33Now, this government was elected to stop that.
08:37And we will.
08:40That's also why we're going to support rural communities
08:43with the cost of heating oil.
08:47And this is point number three.
08:50The CMA reported last week
08:53what every heating oil customer already knows.
08:56These are accounts of suppliers cancelling orders
08:59and jacking up prices.
09:01Now, that kind of conduct
09:02is completely unacceptable.
09:06So, if the companies have broken the law,
09:10there will be legal action.
09:12And because it's clear this market is under-regulated,
09:15we're going to put that right
09:17to ensure customers get a better deal.
09:21But we won't just wait for that.
09:25I'm announcing immediate support
09:27for vulnerable heating oil customers today,
09:31providing £53 million
09:33for those households that are most exposed.
09:38Fourth, we are pushing ahead
09:41with our long-term plan
09:42to build Britain's energy security
09:44and independence.
09:46Because otherwise,
09:48we will continue to be subject
09:49to wild fluctuations
09:50in oil and gas prices.
09:53We've already brought in £90 billion
09:56of investment
09:56in clean British energy.
09:59And that's the equivalent
10:00of over 20 million homes.
10:04Just last week,
10:05we committed to reforming regulations
10:07so we can fast-track
10:09new nuclear power stations.
10:12Now, this has been opposed
10:14every step of the way
10:16by those who want to resist
10:18the push for clean energy.
10:20They did the same
10:21throughout the entire period
10:23of the last government,
10:24and they won.
10:25But we see here,
10:28as we did with Ukraine,
10:31that this is a vital cause.
10:35Because until we get ourselves
10:37off the roller coaster
10:38of international oil and gas markets
10:41and onto clean, homegrown,
10:43British energy,
10:45tyrants like Putin
10:46and the Ayatollahs
10:47will be free to attack
10:48our energy security.
10:51So we won't slow down on this.
10:53We will go faster.
10:57Fifth,
10:58we will continue to work
11:00towards a swift resolution
11:02of the situation
11:04in the Middle East.
11:05because there is no question
11:08ending the war
11:10is the quickest way
11:12to reduce
11:12the cost of living.
11:15And look,
11:17it's moments like this
11:19that tell you
11:20what a government
11:21is about.
11:23My answer is clear.
11:26Whatever the challenges
11:27that lie ahead,
11:29this government
11:30will always support
11:31working people.
11:32That is my first instinct,
11:35my first priority,
11:37to help you
11:39with the cost of living
11:40throughout this crisis.
11:44And I want to make
11:45one final point.
11:48Because moments like this
11:49also tell you
11:51about leadership.
11:54Whether to commit
11:56British troops
11:57to military action
11:58is the most serious
12:00responsibility
12:00for any
12:02prime minister.
12:04I have been
12:05attacked by some
12:06for my decision
12:08not to join
12:09the offensive
12:10against Iran.
12:13But at every stage,
12:14I've stood
12:15by my principles.
12:17Principles
12:18which I held
12:19just as strongly
12:20when it came
12:21to the debate
12:21about the Iraq war
12:22in 2003.
12:25Principles
12:26which I believe
12:27are shared
12:29by the British people
12:30that our decision
12:32should be based
12:33on a calm,
12:35level-headed
12:36assessment
12:36of the British
12:38national interest.
12:40And that if we are
12:41to send our
12:42servicemen and women
12:43into harm's way,
12:46the very least
12:47they deserve
12:49is to know
12:50that they do so
12:52on a legal basis
12:54and with a proper
12:55thought-through plan.
12:59Now, there are others
13:00who would have made
13:01a different decision
13:02two weeks ago.
13:03They would have rushed
13:04the UK headlong
13:05into this war
13:07without the full picture
13:08of what they're sending
13:10our forces into
13:11and without a plan
13:12to get us out.
13:13That is not leading,
13:16it's following.
13:19My leadership
13:20is about standing firm
13:22for the British interest,
13:25no matter the pressure.
13:27And I believe time
13:29will show
13:29that we have
13:30the right approach,
13:32right on the economy
13:33and the cost of living,
13:36right on defence
13:37and energy
13:38and right on this war
13:40in the best interests
13:42of the British people.
13:49And now,
13:50I will take
13:50some questions
13:54and I think,
13:56Chris Mason,
13:57I'm starting
13:58with you.
14:00Thank you,
14:01Prime Minister.
14:01Chris Mason,
14:02BBC News.
14:03Given the frequency
14:04of huge government
14:05interventions
14:05in recent years
14:06after the pandemic
14:07and the war in Ukraine
14:09and where that's left
14:10the public finances,
14:12do you feel a constraint
14:13on whether you'd be able
14:14to offer any more support
14:16on the impacts
14:17of this war
14:18if it drags on?
14:20And if I may,
14:20you say the UK
14:21won't be drawn
14:22into the wider war
14:23but you're willing
14:23to be part of
14:24what you described
14:25as a viable collective plan
14:26to keep the Straits
14:27of Hormuz open.
14:28What is the UK
14:30willing to do
14:31in specific terms?
14:32Well,
14:32the two are linked
14:34as you'll appreciate
14:35straight away,
14:35Chris,
14:35because the Straits
14:36of Hormuz
14:37is obviously vital
14:38in relation
14:39to the price
14:40of energy
14:41and the impact
14:42that that's having
14:42on the cost of living.
14:43So these are not
14:44too distinct
14:45and discreet issues
14:46and on the Straits
14:47we've been discussing
14:48this with partners
14:50including European partners,
14:52Gulf partners
14:53and the US.
14:54And obviously
14:56we need to look
14:57at the options.
14:58We've already got
15:00autonomous mine hunting
15:01systems in the regions.
15:02We're looking at options
15:04and expertise
15:04but working with
15:05our allies on that.
15:06In relation to the bigger picture,
15:08look, my instinct,
15:09my first priority
15:09is to protect people
15:11in relation to
15:12the cost of living
15:13and that's why
15:13we've put in measures
15:14that are already there,
15:16the capping of energy bills
15:18and to be really clear
15:19because I know
15:20people are worried
15:20about this,
15:21that that is in place
15:22until the end of June
15:23it's actually a cut
15:25because that's what
15:26we put in place
15:27at the budget
15:28and then a cap
15:29and a fuel duty
15:30through to September
15:31and the announcement
15:32today in relation
15:33to those that heat
15:34their homes through oil
15:35which is a big issue
15:36in rural communities
15:37and a very big issue
15:38in places like
15:39Northern Ireland
15:40putting that in place
15:41straight away.
15:43As to what might happen
15:43in three months
15:45or six months
15:46I'm not going to stand here
15:47and pretend to you
15:49that we all know
15:50what the situation
15:51will be
15:51in the three
15:52or six months
15:53time.
15:54We don't.
15:55The best way
15:56through this
15:56is to de-escalate
15:58and reduce the conflict
15:59because that is
16:01the simple
16:01most effective way
16:02to deal with the cost
16:03of living
16:03and that's where
16:04we're putting
16:05all of our focus.
16:07But look,
16:08you heard what I said
16:08about my instinct
16:09and obviously
16:10we'll always do
16:11whatever we can
16:12in relation to cost
16:13of living
16:13for working people.
16:14Thank you, Chris.
16:16Robert,
16:16I think I'm coming to you next.
16:17Robert Vest
16:18in ITV.
16:21President Trump
16:22wants you to commit
16:22the Royal Navy now
16:23to keeping
16:24the Straits of Hormuz
16:26open.
16:26I think you're saying
16:28no to that.
16:30Is that right?
16:32And then
16:33separately
16:33you'll have seen
16:34the picture
16:35that ITV published
16:36of Epstein
16:38with Mandelson
16:39and the former Prince Andrew
16:41in their dressing gowns.
16:43why,
16:44in Jonathan Powell's words,
16:46did you rush
16:47that appointment
16:47given that Karen Pierce
16:49was prepared to stay
16:50for a few months
16:51and that's what
16:51the US president wanted?
16:53Let me deal
16:54with the Straits of Hormuz
16:55because obviously
16:55that's one of the
16:56pressing issues
16:57of the day.
16:58It's something I discussed
16:58with President Trump
16:59yesterday on the phone.
17:01There have been
17:02discussions going on
17:03in relation to
17:05a viable plan.
17:06We want to make sure
17:08that that involves
17:09as many partners
17:10as possible.
17:11That's been our stated
17:12objective here
17:13particularly talking
17:14to European partners
17:15inevitably talking
17:16to Gulf partners
17:17and to the US
17:18because we need
17:19a credible viable plan
17:21if we can
17:21and as I said
17:22a moment ago
17:23this is
17:24to say the least
17:25not easy
17:26and is not straightforward
17:28and therefore
17:29we have to
17:30make sure
17:31that we've got
17:31that credible plan
17:32in place.
17:33As to what
17:34the precise options are
17:35as I say
17:36mine hunting systems
17:37of ours
17:38are already
17:38in the region.
17:40We've already
17:40spoken about
17:41what we can do
17:42in relation
17:42to anti-drone
17:43capability
17:44but this isn't
17:45just about
17:45what the UK
17:46can do
17:46it's about
17:47how we play
17:47a part
17:48in bringing
17:49others together
17:50behind a viable
17:51plan.
17:51So that's
17:52where we're at
17:53at the moment.
17:56Well
17:56we're looking
17:58through
17:58the options
17:59it is difficult
18:00of course
18:00it's difficult
18:01there's no
18:02hiding that
18:03but that's
18:04what we're
18:04working on
18:04in terms
18:05of a viable
18:06plan
18:07because
18:09ultimately
18:09we need
18:10to get
18:10the straits
18:11opened
18:11otherwise
18:12the price
18:13of energy
18:14will remain
18:15very high
18:15for reasons
18:15that everybody
18:16understands
18:17so it's part
18:18and parcel
18:18of what we're
18:18doing on the
18:19cost of living.
18:20In relation
18:20to Mandelson
18:22look
18:22the independent
18:23advisor has
18:24looked
18:25at the tail end
18:26of last week
18:27at the process
18:27we went through
18:28and he said
18:28it was the
18:29proper process.
18:29Look the process
18:30wasn't strong
18:30enough
18:31and that's
18:31why last
18:33year I moved
18:34to strengthen
18:35the process
18:35and we'll
18:36strengthen it
18:36again.
18:37My reflection
18:38is the process
18:38wasn't strong
18:39enough
18:39the process
18:39was followed
18:40but was the
18:41process strong
18:41enough?
18:42No it wasn't.
18:43Now I recognize
18:44that back in
18:45September
18:46when the
18:47Bloomberg emails
18:48came to light
18:49and it was
18:50then that I
18:50started the
18:51process of
18:51strengthening it
18:52and we'll
18:53continue to do
18:53so.
18:54Thank you
18:54Robert.
18:55Beth can I
18:55come to you?
18:56Yeah thank you.
18:57Beth Rigby Sky News
18:59Prime Minister
18:59people are worried
19:00sick at the
19:01prospect of their
19:01energy bills
19:02going up by
19:03£300 or more
19:05after June.
19:06The Conservative
19:07Government back
19:07in 2022
19:08capped bills
19:09for all households
19:10through an
19:11energy price cap.
19:12It cost about
19:13£40 billion.
19:15You're not going
19:16to do this are you?
19:17Can you just
19:17level with people
19:18that wealthier
19:19households are going
19:20to have to suck
19:21some of this up?
19:23And on the
19:24Mandelson files
19:25your National
19:26Security Advisor
19:26said the process
19:27was quite weirdly
19:28rushed.
19:29And Mandelson
19:30was appointed
19:31before developed
19:32vetting had been
19:34complete.
19:35You told MPs
19:36in the House of
19:37Commons that
19:38due process
19:39was followed.
19:40Is there a
19:41possibility
19:42that you have
19:43misled the House
19:45when you said
19:45that?
19:46No and the
19:47Independent Advisor
19:48looked at that
19:48very question I
19:49think on Thursday
19:50or Friday of last
19:50week and answered
19:52it very robustly
19:53that the process
19:54had been followed.
19:56the process
19:57wasn't strong
19:58enough.
19:59And amongst the
19:59changes that I
20:00intend to put into
20:00place is the fact
20:02that you can't
20:02announce someone
20:02until the vetting
20:03is finished.
20:04It wasn't an
20:05individual decision
20:05in the Mandelson
20:06case.
20:06That was the
20:07process.
20:08Well you only have
20:08to look at that
20:10in the light of
20:11the appointment
20:12to realise that
20:13that needs to
20:14change but on
20:15due process.
20:16The process
20:16that was there
20:17was followed.
20:18The problem was
20:19the process
20:19wasn't strong
20:20enough.
20:20But ultimately
20:21it was my
20:22mistake and I
20:23have apologised
20:24for that.
20:25I'm quite right
20:26too.
20:27In relation to
20:28wider point about
20:28energy bills
20:30because I do know
20:30how worried people
20:31will be about this
20:33and as I said
20:34I've been to a
20:35number of
20:35community centres
20:36across the
20:36country where
20:38you can feel
20:38that and I'm
20:39not surprised.
20:41we're not
20:42ruling anything
20:43out but it is
20:45very difficult to
20:46say at this
20:47juncture what
20:47the position
20:48will be in
20:49July which is
20:49when the current
20:50energy cap runs
20:52out or what the
20:54position will be
20:55in September.
20:58And obviously
20:58our focus at the
20:59moment is
20:59de-escalating
21:00dealing with the
21:01straits and
21:02trying to find a
21:03way to limit the
21:04impact.
21:05My instinct is
21:06always to help
21:07working people in
21:08a situation like
21:08this hence the
21:09energy price cap
21:10that we put in
21:11place.
21:11In fact reducing
21:13energy bills which
21:14is one of the
21:14measures of the
21:17budget and making
21:19sure that is held
21:19until June.
21:21Work we've done on
21:22those that heat
21:23their homes through
21:24oil which was a
21:24real cause for
21:25concern particularly
21:27in the tail end of
21:27last week when
21:28people were beginning
21:29to fill up their
21:29tanks and they
21:30could feel for
21:31themselves.
21:32And this is an
21:32area where in
21:33addition to what
21:34we can do through
21:35the money we've
21:35been putting in
21:36today whether it's
21:37that or petrol I'm
21:39absolutely determined
21:40to clamp down on
21:41anybody who may
21:42think of ripping
21:43others off in a
21:43situation like this.
21:44I've heard too many
21:45stories of deliveries
21:47being cancelled in
21:48order for the price to
21:49go up.
21:49Have to clamp down on
21:50that sort of ripping
21:51off.
21:52But I'm not going to
21:55say to you now
21:56because so much is
21:58unknown what we might
21:59do in July.
22:00We are going to have
22:01to do what we can do
22:02now to de-escalate,
22:03keep this all under
22:04review.
22:05As soon as it's
22:07necessary to say
22:08anything further I
22:08will obviously do so
22:10but it's simply not
22:11sensible to say that in
22:13a number of months
22:13time not knowing what
22:14the situation will be
22:15that the following will
22:17be ruled in or ruled
22:18out.
22:18So that's the approach
22:19that we're taking.
22:20Thank you Beth.
22:20Can I go to Andy at
22:21Channel 5?
22:23Thank you Prime Minister
22:24Andy Bower, 5 News.
22:27So initially you said
22:28no to the President
22:29when he wanted to use
22:31UK bases for the first
22:33wave.
22:33It feels like now you're
22:35saying no again to
22:36sending any kind of
22:38shipping to open up the
22:40Gulf.
22:41Are you basically saying
22:42to him there is no
22:44military way of opening
22:45up the Straits of Four
22:46Moves, we have to go
22:47for de-escalation and
22:48presumably you must be
22:49getting worried now that
22:50your relationship with
22:51the President is getting
22:52pretty frayed.
22:53Well just to go through
22:55this in order, I said
22:57no to get involved in
22:59the initial offensive
22:59action and getting drawn
23:01into the war and I
23:02stand by that decision.
23:04As I said a moment
23:05ago, many people
23:06criticised me heavily
23:07for that decision and
23:09indicated that they
23:10would have rushed into
23:10the war only in my
23:13view for them to
23:14backpedal a week or two
23:15later when they saw the
23:16consequences of what
23:17action they would have
23:18taken had they been
23:20Prime Minister.
23:22In relation to the
23:23defensive action,
23:25whether it's what we're
23:26doing in the region,
23:27have been doing since
23:29the few hours after the
23:31conflict started or
23:32whether it's the use of
23:33our bases, that is in
23:34collective self-defense of
23:36our people in the region
23:37and our bases.
23:39The Straits of Four Moves
23:40is then a separate
23:42discussion and it is a
23:44discussion.
23:44We're not at a point of
23:45decisions yet and I want
23:46to really stress that.
23:48It is obviously a
23:51difficult question that
23:52goes without saying in
23:53relation to how you
23:54safeguard maritime traffic
23:56through the Straits,
23:58everybody knows the
23:59geography and the risks
24:01but we are working and
24:03discussing that with the
24:04US, with Gulf partners
24:06and with the Europeans
24:07and I discussed that
24:08yesterday with President
24:10Trump in the way we
24:12often discuss things.
24:14So that's where we're at
24:14on that.
24:16We're not, there are no
24:16decisions having been made.
24:18It'll have to be something
24:20which is agreed by as many
24:21partners as possible is my
24:22strong view and we're not
24:24at that stage yet but we
24:25are working hard.
24:27I discussed it with
24:27President Trump yesterday
24:28in the way that you would
24:29expect between two allies
24:32and two leaders and as
24:34soon as there's more to
24:35report I will make sure
24:36that you have that.
24:37Thank you Andy.
24:38I've got Chris Hope from
24:39GB News.
24:39Chris.
24:40Thank you Prime Minister.
24:41GB News viewers are very
24:42very worried about petrol
24:43prices and you might
24:43understand.
24:44They don't understand why
24:45you won't open up oil and
24:47gas fields to try and bring
24:48down the costs, mitigate
24:49that against of course the
24:51dash to net zero.
24:52Why not open up those oil and
24:53gas fields and just on the
24:54special relationship, if one
24:56is bad and ten is good, how
24:58would you rank your special
25:00relationship right now with
25:01Donald Trump?
25:02Well, in relation to, I do
25:05know how anxious your
25:06viewers and everybody else
25:08will be in relation to their
25:10energy bills because there's
25:11a conflict going on.
25:13They will have their own
25:13views and worries about the
25:15extent of that conflict and
25:17many are worried that it
25:18escalates rather than de-escalates.
25:21I'm clear we need to de-escalate.
25:22In relation to their bills in
25:24the here and now, we are
25:25taking measures to protect
25:26them and I want to just make
25:27that clear for all your
25:28viewers because for the next
25:31three months their bills will
25:32come down and be held down
25:34and they need that
25:34reassurance because some are
25:36worried that they're going to
25:37go up next week or next month.
25:39That won't happen.
25:40Obviously we'll have to keep
25:41under review what happens
25:42elsewhere.
25:43If they're oil-based and some
25:44of your viewers will be, the
25:46announcement I've made today
25:47is to give them help with that
25:48because already their bills are
25:51going up and they're not
25:51within, or they wouldn't
25:53otherwise be within the scheme.
25:54On oil and gas in the North
25:56Sea, obviously that's going to
25:57be part of the mix for many
25:58years to come.
25:59So there's no difference of
26:00position there.
26:02We did make progress on what's
26:03called tiebacks.
26:04Your viewers may have seen that
26:06or not, but that basically
26:08allows further access into oil
26:10and gas in the North Sea.
26:12So that's already in place.
26:14But the question I'm answering
26:19or trying to address at all
26:20times is what are the measures
26:22that are actually going to take
26:23money off bills now or in the
26:25foreseeable future?
26:27And that is by ensuring that
26:30we've got a better mix of
26:31renewables and that we go to
26:32renewables.
26:33And there's no denying because
26:35we've seen this firsthand now.
26:37We saw it in Ukraine.
26:38We saw it in the 12 days war.
26:40We're seeing it again now.
26:41If you're on the international
26:42market for oil and gas, you're
26:44vulnerable to the price going
26:46up on the international market
26:47because we, the UK, have little
26:49control over that.
26:51And our North Sea oil doesn't
26:52give us control over that because
26:54we sell onto the market.
26:55What gives us control is
26:57renewables, our own homegrown
27:00energy, which is then more
27:02secure and more independent,
27:04which is why I think that we
27:06should go further and faster in
27:07relation to renewables.
27:08Let's get control of our own
27:10energy so that whatever is
27:11happening on the world, we
27:13control what's happening in this
27:15country.
27:15And I think for many people,
27:17they'd say by whatever means you
27:18do it, get control of energy so I
27:20don't have to keep worrying that my
27:21bills are going to go up and down.
27:22I want to get to that place as
27:23quickly as possible, Chris.
27:25Thank you very much.
27:27Look, I mean, it's a good
27:28relationship.
27:29We had a good discussion yesterday
27:30about the Straits, as you would
27:33expect, where strong allies have
27:36been for decades.
27:38But it is for me to act in what I
27:41consider to be the best interests
27:42of Britain.
27:44And I have to keep that uppermost in
27:46my mind.
27:47And it is interesting, for want of a
27:50better word, that those that two
27:51weeks ago were urging us to go headlong
27:53into the full-blown war are beginning
27:55to have second thoughts about that.
27:57And there's reason for that.
27:59The problem, as I pointed out to the
28:01leader of the opposition last
28:02Wednesday, is if you're Prime
28:03Minister, you don't get to come back
28:05a week later and say, oops, I made a
28:07mistake about that war.
28:08Can I back out of it now?
28:09You have to make the decision that you
28:11genuinely believe is in the best
28:13interest of the British people from
28:15the get-go.
28:16Thank you, Chris.
28:17I've got Matthew Gay.
28:19Thank you, Prime Minister.
28:20Matthew Gay, the Quid Squid
28:21person for finance.
28:23Life is about to get a lot more
28:24expensive for people in the UK due to
28:26what's going on abroad.
28:28Food and petrol are already going
28:30up, and energy bills past the price
28:32cap could also be seeing an increase,
28:34which a lot of people can't afford.
28:36So the government likely have two
28:38options, either do some of the stuff
28:39that you've already mentioned and
28:41find ways to cut these bills, or get
28:44more money into people's pockets.
28:45So with regards to the latter, how is
28:48the government planning to help people?
28:49Yeah, well, thank you very much.
28:51And both are really important because
28:53we are taking measures to keep bills
28:54down, and that's why I can say that
28:57bills will be, energy bills will be
28:59capped, will be cut and capped for
29:02three months.
29:02At the same time, we need to make sure
29:04more money goes into people's
29:05pockets.
29:06That's why we've done a lot of work on
29:08things like the minimum pay, to make
29:12sure that that goes up as it will go up
29:14in April, so people have got more money
29:16in their pockets.
29:17It's very important that we point out
29:18that wages are going up higher under
29:20this government than they went up under
29:22the first ten years of the last
29:24government, because it will be a
29:25question of, for most people, how much
29:28am I getting in on a monthly basis, and
29:30can I meet the bills I've got to pay on
29:32a monthly basis?
29:33And just to be clear, because I do think
29:36this is important, when I was growing
29:38up, we didn't have enough money in my
29:40house to pay our bills.
29:41So I know what that feels like to be
29:43around the kitchen table really worried,
29:44and I do genuinely know that there are
29:47many people across the country who are
29:49having those conversations today, who
29:50are really worried about it, and that's
29:52why it's important that I reiterate that
29:55my instinct, my first priority, is to do
29:57whatever we can to protect them, or
29:59holding bills, or whether it's making
30:02sure they've got more money in their
30:03pocket in the first place.
30:04Thank you so much.
30:06I've got Jason Grose, Daymail.
30:09Jason.
30:10Thanks, Liam.
30:11Can I ask you a couple of questions about
30:12petrol?
30:12You've talked a bit about profiteering,
30:15but at the moment, obviously, the
30:16Treasury is getting a big windfall from
30:18VAT on petrol.
30:19Every 5p it goes up.
30:21They get another penny.
30:22Shouldn't you be giving that money back?
30:25And then, secondly, Nick Butler, who you
30:28may know, used to work for Gordon Brown
30:29and BP, was out this morning saying we
30:32could be facing petrol rationing in a
30:34couple of months.
30:35What sort of preparations are you making
30:37for that?
30:37Well, on both those issues, I mean, on
30:41fuel duty, that is being held till
30:44September.
30:46And...
30:48Yeah, that's held till September.
30:50And I know people are urging me, what are you
30:52going to do after September?
30:53But that is six months away.
30:56There's obviously a lot of change that could
30:58happen in that period.
31:00And we need to keep the situation under
31:02review, and we will keep the situation
31:04under review.
31:05In relation to the supply of energy,
31:10obviously, we're taking all necessary
31:12measures to make sure there is the right
31:14supply of energy.
31:15It's really important that we do so, and it
31:17will always be a mix of oil and gas and
31:20renewables.
31:20We're actually using more renewables now
31:22than we were in 2022, which is helping in
31:25relation to supply.
31:27But we'll keep that under constant review.
31:29Thank you, Jason.
31:29I've got Millie from The Independent.
31:32Thank you, Prime Minister.
31:33Millie Cook from The Independent.
31:35Pat McFadden this morning appeared to play
31:37down Trump's warning that the future of
31:38NATO would be very bad if we don't send
31:40warships to the Strait of Hormuz, describing
31:42it as rhetoric from the President.
31:44How concerned are you about the breakdown of
31:46the NATO alliance?
31:47And would you agree with Mr McFadden that
31:49Trump's threats are just rhetoric?
31:51Well, firstly, we are working with others to
31:55come up with a credible plan for the Straits of
31:58Hormuz to ensure that we can reopen shipping and
32:04passage through the strait.
32:06Let me be clear.
32:07That won't be, and it's never been envisaged to be,
32:10a NATO mission.
32:11That will have to be an alliance of partners, which
32:14is why we're working with partners both in Europe,
32:17in the Gulf, and with the US.
32:20It's important that we continue that.
32:21It is not straightforward, and you can see that
32:26historically when there have been other conflicts
32:28that have affected the Straits.
32:30But I do think that working with others, including the
32:33US, is the way to go forward.
32:36And I had a perfectly good discussion with President Trump
32:38about that yesterday.
32:39And, of course, as you'd expect, I mean, we are talking to the
32:42US at all levels all of the time.
32:45And whether it's the US, whether it's Europe, whether it's
32:48Gulf partners, we are trying to pull together both partners and
32:53a plan in relation to the Straits.
32:56Thank you very much.
32:58And let me go to George Parker, FT.
33:02Thank you, Prime Minister.
33:03You said earlier that you simply won't allow companies to make
33:05huge profits from the hardship of working people.
33:08And you said that in the context of windfall taxes in the past.
33:11So I just wondered whether you were suggesting that if they
33:13carry on, as you see it, with this bad behaviour, a windfall tax
33:16or a higher windfall tax is a possibility.
33:19And secondly, taking you back to something you said right at
33:21the start, you said the longer this war goes on, the more
33:24dangerous it becomes.
33:25I just wondered if you could clarify what you mean by that and
33:28whether you feel the President shares your concerns.
33:30Well, in relation to a windfall tax, obviously there is a
33:33windfall tax in place, and we continued and extended that.
33:38And you can see in a circumstance like this why it's so
33:40important that we did so.
33:44And that's the argument I made in 2022.
33:46And it's the argument I make now.
33:49Obviously, it is important that we work with the oil and gas sector.
33:52And that's why we've taken a number of measures, including the
33:56tieback provisions that we put in place just a few months ago.
33:59In relation to the broader words I used, look, the longer it goes on,
34:04the higher the risk of escalation and the bigger the impact on the economy
34:12and energy prices, and hence on the cost of living for families across the country.
34:18And that is why, in addition to the self-defense actions that we're taking, in addition to
34:27the work and discussions that are going on in relation to the Straits of Hormuz, we do
34:32need to keep working for de-escalation.
34:34In the end, however it comes about, there is going to have to be a negotiated settlement
34:41of some sort.
34:42We mustn't lose sight of that.
34:44We must talk to our allies about that.
34:48And we do.
34:50Obviously, we had a G7 call last week.
34:54I spoke to the president over the weekend.
34:57But I'm clear in my mind that the longer it goes on, the more difficult it becomes.
35:04And therefore, I'm doing everything I can to work to a resolution of this.
35:08But I'm not going to stand here and pretend to you that that is straightforward.
35:11That is easy.
35:13But we do what we do best, which is to work with our allies, whether that's the US, Europe
35:20or the Gulf, and slightly further afield in the coalition of willing, to bring about
35:26that end.
35:28Thank you all very much indeed.
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