Sir Richard Branson has savaged “foolish” world leaders, seemingly including Donald Trump, blaming them for an increase in flight prices. The Virgin Atlantic founder said there is “no need” for the war against Iran, which began when the United States and Israel struck the Middle Eastern country in February. Branson’s company has added a fuel surcharge to ticket prices as the conflict has disrupted the production and transportation of oil, resulting in an increase in the price of car and jet fuel.
“The Iran conflict was completely unnecessary,” Sir Richard told the BBC. “There was a nuclear agreement between Iran and the rest of the world that had been negotiated by President Obama and a lot of European people. It was working, so there was no need to rip it up… And this war has just resulted in much higher oil prices all over the world. And inflation has been one of the consequences.”
It comes as the Chancellor, John Healey, has warned that his Budget in the autumn could be tough, as the Iran war affects the British economy.
Mr Healey issued the warning amid the leap in Government borrowing earlier this week, reflecting concerns among lenders about the inflationary impact of the conflict.
Mr Healey also told the Financial Times he would ensure the UK emerges from his first Budget on October 28 with a solid “buffer against uncertainty”.
He said: “What’s happening in the Middle East is hitting inflation, it’s hitting growth, it’s hitting borrowing costs.”
The Chancellor added: “It’s part of a more dangerous world that is more uncertain and it’s one of the challenges we have to meet in this country, but have to meet with other [countries].”
President Trump has said the conflict in Iran is “small potatoes” as he defended vice president JD Vance for asserting that months of on-and-off attacks in the Middle East are not a “war”.
Asked during an Oval Office exchange about Mr Vance’s comments, Mr Trump noted that US strikes on Iran are now “intermittent” and seemed to downplay the intensity of a war that has cost US taxpayers more than $37.5billion and left 18 US service members dead.
“I can understand what he’s saying,” said Mr Trump.
He added: “I call it a military conflict because it’s small potatoes for us. It’s not a big thing.”
