The Strait of Hormuz is still blockaded and fears of recession and inflation continue to rise. Let us pray for a hasty resolution – but we must also prepare for the worst, writes Chris Blackhurst I n Downing Street, they are panicking. Ministers have been told to prioritise the impact of the Iran war, officials have been ordered to run models based on every possible outcome and timeline, and they are meeting around the clock to discuss, analyse and plan. That, at least, was the picture painted

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