Starmer says government will step in if fuel companies rip off customers as trade body U-turns on decision not to meet Reeves – as it happened

The prime minister issues the statement after a fuel trade body earlier withdrew from a meeting with the chancellor today

Even before Donald Trump's Operation Epic Fury on Iran unleashed higher oil prices, threatening the outlook for growth and inflation, the UK economy was flatlining.

That's the bleak message in the latest data from the Office for National Statistics (ONS), which showed zero GDP growth in January.