Crime & Safety
UK households will be £480 worse off because of Iran war
Think tank Resolution Foundation say they’ve assessed the difference in projected household living standards between the current situation and if the war hadn’t begun.
They factored in the rising energy prices, inflation and the impact of current government support, such as lifting of the two-child benefit cap.
They concluded living standards of the average household were previously on track for 0.9% growth but it’s now set to decrease by 0.6% this financial year.
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They believe this translates to the average UK household being £480 worse off as a result of the Iran War.
It’s believed the average income growth for the poorest 20% is now set to be just 1.2 per cent, which is down from 2.8% before the conflict.
However families with three or more children in the bottom half of earnings will see a 7.7% income growth compared to 0% for ‘poorer families’ with fewer than three kids.
Resolution Foundation is encouraging the Government to offer ‘targeted support to struggling households’.
Chief economist at the Resolution Foundation, James Smith, warned ‘this squeeze will run right through the income distribution’.
James said: “Despite hopes for a sustained peace, the path of this conflict remains uncertain and energy prices remain well above pre-war levels – meaning many households face a decline in their purchasing power this year.
“This squeeze will run right through the income distribution.
“Lower-income households will still see some income growth thanks to a long-awaited rise in real benefit levels but inflation will likely knock more than a percentage point off what they would have gained.
“For those in the middle and towards the top of the income distribution, even the thin growth they had been expecting has tipped into negative territory.”
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The head of Energy UK has said it is inevitable that the next price cap update will see bills rise, as a think tank warned the Iran war could make UK households hundreds of pounds worse off.
Dhara Vyas, chief executive of the industry body, voiced support for the Government to offer targeted help for those hit hardest by price hikes in the short term, and said the long-term solution was investment in clean power.
The Resolution Foundation said in its latest analysis of the impact of the conflict on the UK that the average household could be £480 worse off.
This is because rising energy prices are likely to mean that households will see income fall by 0.6% rather than the 0.9% growth they were previously on track for.
Speaking at a panel discussion hosted by the think tank, Ms Vyas said: “I think it’s inevitable that bills will go up on July 1, because we are more than halfway through the observation window, but I don’t know yet by how much.”
She said anyone working in the energy industry wakes up every morning and checks the gas price because there is no knowing what has happened overnight.
The Energy UK boss added: “So it is wildly unpredictable.
“The things we know for sure I think are our energy security is more at risk now than it has ever been.
“And I mean that not to kind of create a sense of fear about supply.
“That’s not what I mean.
“What I mean is our security in terms of having control over it.
“So investing in clean power is the way forward.”
As previously reported, a car was smashed into the side of a parked white Peugeot taxi in Woodgreen Avenue.
It then caused the taxi to collide with the house it was parked outside of, leading to significant damage to the bricks.
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Nobody was injured in the crash, but the road was taped off for most of Monday, August 18 last year while officers investigated.
Two people were arrested shortly after the crash, with two more shortly afterwards.
All four of those arrested were released on conditional police bail pending further enquiries by investigating officers.
However, Thames Valley Police have now confirmed that no further action will be taken.
A spokeswoman said: “All those arrested have been released from police custody with no further action to be taken.
“Following a thorough review of all the lines of enquiry available to us in this case, this investigation has now been filed.”
Thames Valley Police has revealed that it carried out a drugs warrant today (Friday, April 17) on Leach Road in Bicester.
This is only a road away from The Bicester School which educates over 1,000 pupils from 11 to 18.
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The police added that investigations in the case are ongoing and encouraged anyone with any information to get in touch with them as soon as possible.
A spokesperson for the Cherwell unit said: “Earlier today, the Bicester and Kidlington Neighbourhood Policing Team carried out a drugs warrant at an address in Leach Road, supported by colleagues from West Oxfordshire and Banbury Neighbourhood Policing Teams.
“Investigations remain ongoing. We continue to encourage our community to report any information or concerns about drug activity.
“Your reports help us target our activity, protect vulnerable people, and reduce drug offences across the area.
READ MORE: Named ‘delivery rider’ pleads guilty after cocaine arrest in Oxfordshire town
“You can either do this online or by telephoning 101. If you don’t wish to speak to police directly, you can also report to Crimestoppers, anonymously and free of charge by calling 0800 555 111.”
This drugs raid follows several recent drugs-related arrests in another Oxfordshire town Wantage.
Earlier this week a man pleaded guilty to one count of possession with intent to supply a controlled drug of class A, namely cocaine, having been arrested in the town.
Nigel Bailey, who is close to becoming the new owner of the former Horse and Radish in Burford Road, Minster Lovell, has said he wants to have the watering hole opened in the summer during the upcoming Football World Cup.
Mr Bailey and his wife, who live in Brize Norton, had an offer accepted for the pub earlier this year and hope to finalise the deal with Stonegate soon.
READ MORE: Cotswolds rival to Jeremy Clarkson pub could reopen soon
The Minster Lovell tavern was on the market for £850,000 last summer although that fell to £650,000 late in 2025.
Mr Bailey confirmed that they would give the pub a new name and said it would be based on English literature.
He said: “We’re eyeing English writers as a source for the name, people who have taken inspiration from the Cotswolds. That’s the concept.”
He added that the food would be traditional British but with a twist and that he is hopeful it will be open for the busy summer season.
“A good thing is that we have got the World Cup coming up,” he said, adding: “I mean it’s going to be all hands-on deck when we get the keys.
“I’ve got contractors lined up and we’re already looking for stuff but not really going into high gear until we have got the keys.”
Boasting 2.092 acres of Cotswolds views, the pub is less than two miles away from Jeremey Clarkson’s boozer The Farmer’s Dog in Asthall.
However Mr Bailey said he expects the upgraded Horse and Radish to complement the former Top Gear man’s boozer as well as The White Hart in Burford.
He said that it will be a pub stitched into the community and that they hope to hold plenty of community events there.
It dates back more than 100 years to 1871 when it was first mentioned in The Census with the name New Inn.
Over the years the New Inn had several transfers of ownership with tenancies lasting on average two years.
READ MORE: Historic Oxfordshire high street hotel up for £2.5m sale
It continued to be called the New Inn into the 21st century and then it reopened in May 2006 after a major refurbishment which included an extra single storey being built to the pub at the rear and side.
In 2013 the Inn was renamed The Dovecote before being rebranded again as The Horse and Radish.
The pub comes with planning permission for eight shepherd’s huts in the adjacent wild paddock, granted in 2022 and – according to the Land Registry – it was last sold for £465,000 in September 2017.
Inside the pub is a three-section trading area with multiple entrances, a raised bar section with 22 seats leading to three sets of customer toilets, a central bar-servery section split either side of a feature fireplace and a larger dining area suitable for 46 people at the back.
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