𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Rachel Reeves and supermarket bosses have agreed to explore how to keep costs down for consumers amid the impacts of the Iran war.

They also discussed ways to boost supply chains during “constructive” talks on Wednesday

Tesco, Sainsbury’s, Aldi, Morrisons, Lidl, Co-Op, M&S, Iceland and Ocado were represented at the meeting with the Chancellor, as well as the British Retail Consortium.

A Government spokesman said: “The Chancellor and Environment Secretary [Emma Reynolds]had a positive meeting with Britain’s leading supermarkets to discuss the economic impacts of the war in the Middle East.

“They agreed to work together to explore what more can be done to ease the cost of living for consumers and strengthen supply chains.”

UK farmers and producers have warned that, without help from the government and support from retailers, there will be price rises and potential shortages.

Helen Dickinson, chief executive at the British Retail Consortium, said: “Retailers had a constructive meeting with the Chancellor.

“Supermarkets are doing everything they can to keep food prices affordable and maintain the ongoing resilience of their supply chains.

“While the conflict in the Middle East means some inflation is inevitable, there are domestic policy levers that Government can pull in order to mitigate some of the inflationary pressures.

“Industry is committed to working with Government to consider these further and on ways it can continue to support British households.”