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flag Iceland's boss urges UK to hold weekly emergency meetings to combat rising food and fuel prices driven by Middle East tensions and oil cuts.

flag Iceland's executive chairman, Lord Richard Walker, has called on the UK government to hold weekly emergency meetings to tackle rising food and fuel prices, citing Middle East conflicts and disrupted oil supplies as key drivers. flag Speaking in his first House of Lords speech, he urged tighter coordination between regulators, energy firms, and retailers to prevent exploitative pricing, noting a 9% diesel price rise since late February and a 10 million barrel daily oil production cut by Gulf nations. flag While the Competition and Markets Authority acknowledged rising costs are inevitable, it pledged to monitor price increases for fairness. flag Walker, recently named cost-of-living champion by Prime Minister Keir Starmer, emphasized the need for government-business collaboration to ensure essentials remain affordable.

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