“Families hardest hit by the looming energy crisis caused by the conflict in the Middle East could be given funds dispensed by local councils, under plans being considered by UK ministers keen to keep a lid on costs.”

“Under one plan, extra cash could be injected into the Crisis and Resilience Fund (CRF), a £1bn a year council-run scheme that takes effect from Wednesday 'to provide preventative support to communities, as well as assisting people when faced with a financial crisis'.”

“An extension of the CRF would allow households that have high bills but don’t currently qualify for benefits to apply for grants.”

“Last week the chancellor told the Commons: 'The progressive, universal approach that we are taking is the right one … £150 off everyone’s energy bills, but then targeted support for those who need it most.'”

“Government borrowing costs around the world have climbed since the US and Israel attacked Iran as financial markets have calculated that governments will be urged to borrow more heavily to cope with the war’s aftershocks.”

“Brent crude is on course for a record monthly rise of nearly 60%, exceeding gains it made during the 1990 Gulf war.”

“The latest Which? consumer insight tracker found that rising prices were forcing half of households, an estimated 14 million, to make at least one adjustment – dip into savings, sell possessions or borrow money – to cover the cost of essentials on a daily basis.”

“Sébastien Lecornu, the French prime minister, said the government was planning to expand the number of households eligible for support. He said an additional 700,000 extra households will receive an average of €153 (£133), bringing the total number of beneficiaries to about 3.8 million, at a cost of €600m for the state.”