Sarah Breeden explains ‘I’m not saying it will happen today, tomorrow, in 12 months’ time’, but system needs to be resilient
Retail sales across Britain last month were boosted by the dash to fill up cars as the Iran war drove up petrol and diesel prices, according to the Office for National Statistics this morning.
The ONS has reported that retail sales in Great Britain rose by 0.7% in March (up from a fall of 0.6% in February), as the Iran war pushed motor fuel prices steadily higher.
“Retail sales rose in the three months to March, with commercial art galleries doing well earlier in the quarter and sales in beauty products stores rising as retailers reported launching new collections. Online shops also saw strong sales across the period.
“Motor fuel sales were up on the quarter, with retailers commenting that many motorists had been filling up their tanks in March following the start of conflict in the Middle East.”
“We’ve been looking at it and we can meet that very easily by just putting a big tariff on the UK, so they better be careful.
“If they don’t drop the tax, we’ll probably put a big tariff on the UK.”
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