Here’s your UK news roundup for Wednesday (18 March 2026):
Trump says he’s disappointed in Starmer
Donald Trump has said he’s “disappointed with Keir [Starmer]” over the prime minister’s initial refusal to send aircraft carriers to the Middle East. Repeating his jibe from a few days into the Iran war, the US president said: “Unfortunately, Keir is no Winston Churchill.” Trump was speaking to reporters in the Oval Office alongside Irish Taoiseach Micheál Martin to mark St Patrick’s Day. “Well, he hasn’t been supportive, and I think it’s a big mistake. You know, they make a lot of money on trade with the United States. I went out of my way (to make a trade deal). We made a good deal for them and, frankly, probably wasn’t appreciated.” [Sky News]
Mayors to gain more spending power under Reeves tax plans
Regional mayors could be given control of some tax revenue to spend on their local priorities, Chancellor Rachel Reeves has announced. The plans, which will be detailed in the autumn Budget, would not increase taxes but instead hand control of some national tax income to those leaders, Reeves added. At a lecture to business leaders, she said this, alongside following more EU rules and a £2.5 billion investment in artificial intelligence (AI) and quantum computing, will help boost the UK’s sluggish economy. [BBC]
Government urged to launch ‘social tariff’ to help vulnerable households with energy bills
The UK government is facing calls to spend almost £4bn to launch a “social tariff” providing cheaper energy for poor households amid growing concerns over the Iran conflict. As households brace for an increase in living costs, the Resolution Foundation said ministers should develop a system of discounted domestic energy bills in time for next winter to protect the most vulnerable households. [Guardian]
British expats fleeing Dubai for London are scrambling to avoid tax bills of up to £5 million
British expats in Dubai are facing tax bills of up to £5 million if they return to London to escape Donald Trump’s Iran war, say accountants. They are advising wealthy Britons caught up in the Gulf states by the conflict on how to avoid being hit with “massive” HMRC bills. Options include taking a holiday in another country until the new tax year starts on 6 April, before flying back to the UK. Taking this step could mean some HMRC rules do not apply to them if they reduce the number of days they are in Britain. [The Standard]
Financial news
On Wednesday, Oil was trading lower at $101.11. The pound is trading at $1.34, €1.16, and ¥9.21.
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