Household energy prices will rise by 13% a year in July, as soaring wholesale costs caused by the US-Israel war with Iran hit bills for the first time.
The UK government borrows to fund day-to-day spending as well as long-term infrastructure projects.
The war in Iran is expected to push UK Inflation further above the Bank of England's 2% target.
Growth has been upgraded from 0.8% to 1% for 2026 in the influential body's latest forecast.
The rate of UK economic growth affects things like pay increases and the amount of tax raised.
The BBC takes a look in charts at what the UAE's departure could mean for the oil cartel and more widely.
Other tech giants Alphabet, Microsoft and Amazon also reported quarterly earnings on Wednesday.
Spotting the events that might lead to a major period of upheaval is notoriously difficult. Could artificial intelligence be the crystal ball we need?
Bank of England governor says the Iran war energy shock makes the next interest rate decision "very, very difficult".
