Iran war will trigger a global recession, warns economic expert
Britain faces a bigger economic slowdown than any other major country as a result of the war in the Middle East, according to a new global forecast.
The Organisation for Economic Co-operation and Development (OECD) says the UK’s economy will grow by just 0.7 per cent this year.
It has slashed its 2026 forecast for UK GDP by 0.5 percentage points, the biggest hit for any member of the G7 group of advanced nations, which also includes the US, Canada, Japan, Germany, France and Italy.
Former Dragons’ Den investor Piers Linney joins Matt Frei to give an overview of the economic fallout of Trump’s war in Iran.
Listen to the full show on the all-new LBC App: https://app.af.lbc.co.uk/btnc/thenewlbcapp
#mattfrei #dragonsden #economy #business #iran #iranwar #middleeast #donaldtrump #trump #keirstarmer #politics #LBC
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48 Comments
"AI" is going to improve nursing home services? Garbage. Spend more MONEY on elder care and services improve. Oversight must happen with a light touch, but through. Anyone found cheating must be caught. Only the certainty of arrest will control some people.
Trigger? It's already here
It's the start the beginning of this madness
I'm 67. When I was 10 I was told I was going to have a jetpack and a flying car. These hucksters been selling pipe dreams for a long time.
The Irony of lovely Brexit closer to US
World economy is not important israel first 🫡 don't worry about blood
If the UK agrees to buy oil from the Persian Gulf with Chinese Yuan instead of the US dollar, Iran will let the British supertankers through. UK, save yourself. Don’t waste time & effort appeasing Trump!
Trump?
ALWAYS KNOW he is driven by a cash grab for himself
Iranian Regime is already Finished
Thanks Labour and Rachel from accounts. Great work 👏
This will be the worst global economic crisis in history.
The old "Technology is going to make everyone's life better". Yeah, yeah. Heard that one before.
It was said about computers. It was said about the internet. It was said about mobile phones. It's now being said about AI. I don't believe a word of it.
It's just another snake oil to sell us and make someone else rich. It won't make the world or our jobs any easier.
If anything, companies will just find a way to use it to drive it's employees harder and into an earlier grave in the name of profits.
All wars are economic and Iran found Trump's Hormuz heels
Wars aren't fought over ideas, they are fought over resources. This is going to lead to a lack of resources maybe never seen before since there are now over 8 billion people on the planet. The people promoting the war are crackpot evengelicals hoping to achieve armageddon. I think we may be in more trouble than just facing a reccession?
You can thank the GOP Congress for doing nothing about saving our Democracy. They all forgot they took an Oath to the Constitution.
Paraguay has the cheapest electricity in the World.
It’s always down to Money when you break it down.
The orange man is really making his mark in history isn’t he ?
If US and Iran make a deal which keeps the strait open from tomorrow, we will have a world recession. If Trump bottles it and leaves with Iran still throttling 90% of the traffic, we will have a world depression. If Trump sends in the Marines, and Iran blows the middle east desalination plants, then we will see the collapse of industrial civilisation
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This was always a war to crash the gcc economy and recover the petrodollar back to wallstreet. As gulf drift away from and always needs reigning in. There is coordination between both sides.
I guess the 🌎 is still pretending we're not already in a global recession. Just look at every country and it's the same story. The rich are hoarding the wealth until the collapse of their currency. Do we have to be told what to think?
One certainty in these uncertain times is that potholes are growing exponentially .
Thatcher sold all the UK assets, and the UK never saw any benefits. Thatcher even sold the UK water…geeeez, no country in the world ever sold their water, the UK did, LOL.
No to ai tech bros👍
All wars are economic wars. Do you not get that yet?!
Isn't it misleading to say that Iran will cause a global recession? Surely it is the Israelis and Americans who will be responsible given that they started an illegal and unnecessary war of choice.
Another recession I think we are used to it by now
Solar power incredibly cheap to produce , yet 90% of the time customers are paying the natural gas price for it . Who keeps the difference in price? Seems like a 1 day project to sort out pricing but it's too profitable for the companies supplying power.
European and North African Governments should consider closing the Straits of Gibraltar to all ships carrying war cargoes
It's hard to believe it's 2026 & we still haven't sorted cheap clean energy
Iran were pretty clear about what they were going to do if they were attacked and now they’re doing it other countries are full of performative outrage. Maybe turn that onto Trump and co for actually causing this mess?
It’s a;l made up anyway so just remake it better. It’s a chance for changing for the betterment of all humanity. We must take advantage of this moment to change our future!
It's about time for another economic crisis. It's been 6 years since the last one.
The cracks were already there. Unemployment rising ,retail and hospitality struggling, house prices declining , cost of living rising , the private credit bubble , low growth .The coming price shocks and shortage of oil to grow, make and transport goods is bound to create a world recession .
I love when these biz guys tell everyone that one day with technology energy will be free. Right dude. Because that’s how capitalism works.
You mispelled depression.
Major imf world bank and in 2030 agenda points touched on here
This is a nightmare to freight forwaders. Shocking
Talk plain English please 🦄
Iran position is clear .
The total destruction of Israel or wreck world economy in pursuit of same …🧐🇮🇪
The UK has tethered itself to the USA in so many ways that it's near impossible to avoid falling down with the latter.
Trump's 7th bankruptcy looks like being the world's.
Rich man invested in AI says we need more AI. Another grifter grifting.
Advanced neo-liberal economy – AI and self-driving taxis, but then working class struggling to pay their housing, energy, soon food and water bills.
We're back in feudalizm.
Every war is a economic war. Run out of money and lose. This is even more true than in previous wars because technology and financial systems are the main factors. Iran has the potential to destroy our financial system using cheap technology. It's a unwinnable war so Iran has won. Not easy to accept for the so called superior West.
This war reminds me of the idiocy of previous statements from some economists. They use to say some event couldn't be important because it only lost a tiny percent of the world's global product. Well, surely the value of what normally comes through the Hormuz Strait is only a tiny fraction of the world's GNP? If so, how can it be so important according to that logic. Rather misses the fact that the world's goods and services all depend on raw materials being available.
The lesson we should be taking from this nonsense is that, for now, we could actually live with less innovation. Let's slow down, and stop paying any price – time, life, resources – to build our own destroyer.