UK Chancellor Announces Summer Transport Food Cost Relief Package

Chancellor Rachel Reeves will announce free summer bus rides for children and cuts to food import tariffs as part of measures to combat inflation from the Iran conflict. The package follows Keir Starmer's decision to scrap planned fuel duty increases. GBP could see volatility as fiscal stimulus measures may pressure the pound through increased government spending while potentially supporting consumer confidence. Traders should monitor for inflationary impacts affecting BoE policy expectations.