The UK prime minister told MPs this week that it was “false comfort” to assume a quick end to the war. Sir Keir is on to something. This could be a prolonged conflict, with the strait of Hormuz unlikely to reopen soon and economic risks already crystallising. Business activity growth in Britain has slowed, manufacturers’ input costs saw their sharpest rise since 1992 and home loans are becoming dearer as the war feeds into energy and inflation fears. Ministers are drawing up contingency plans – such as lowering speed limits – to cut fuel use.