A 0.1% dip in UK GDP in April tied to the Iran conflict and higher energy prices shows how exposed the economy is to geopolitical chokepoints like the Strait of Hormuz, not just domestic policy choices. This hands both government and opposition a ready-made external scapegoat, but it also puts pressure on the Bank of England and the Treasury to decide how much of this shock they treat as temporary versus a reason to rethink energy security and industrial strategy. The quiet long-term consequence is that every new Middle East flare-up now doubles as an invisible tax on UK growth and living standards. #Economy