'UK economy takes triple hit' and 'Cheers, Timmy!'
"UK economy takes triple hit from Iran war," says the i paper in its top story, rattling off International Monetary Fund (IMF) forecasts of "lower growth, fewer jobs and higher cost of living". It suggests Britain faces a "bigger blow than any other major economy" under the impact of "Trumpflation", as the paper describes it, in areas such as petrol, energy and mortgage costs.
The Guardian also leads with IMF predictions that the Iran conflict could trigger a "global recession" that "would affect the UK more than any of the other G7 nations". A separate headline splashes that "Trump says peace talks may restart in two days", as the US president hints at revived Iran-US negotiations in Islamabad.
Chancellor Rachel Reeves "blasts US over Iran war shambles and economic", the Daily Mirror reports. Reeves tells the paper "the US went into this war without a clear exit plan", adding that the conflict "is hitting British families in the pocket".
Reeves plans to increase defence spending by less than £2.5bn a year amid warnings that Britain's "safety is in peril", the Times says. A government source tells the paper Reeves warned Sir Keir Starmer that a larger spending increase "would be unaffordable", as the economic impacts of the war in Iran set in.
The Daily Mail leads with what it calls an "excoriating" speech by former Nato chief Lord Robertson who warns a failure to increase defence spending has left Britain "in peril". The Labour grandee tells ministers "we cannot defend Britain with an ever expanding welfare budget", the paper writes.
The Metro reports on a "boost in ballet and opera tickets" after Oscar-nominated actor Timothée Chalamet claimed "no one cares" about the art forms. Alex Beard, chief executive of Britain's Royal Ballet and Opera, tells the paper: "The public reaction was just fantastic."
"Former police officer urges the government to give injured 999 workers a medal," is the Daily Express's lead story. It features Stan Spry, who "retired sick from the job he loved with a handshake, a lifetime of pain and PTSD", urging the prime minister to give honours medals to "injured emergency workers".
Record first quarter earnings for Wall Street's biggest banks lead the Financial Times, which reports that they have "monetised the market volatility sparked by the Iran war". The paper says JP Morgan Chase, Citigroup and Wells Fargo combined reported "more than $25bn [£18.4] of profits for the first three months of the year, as traders benefited from sharp moves in markets without higher oil prices hurting US borrowers".
Referencing the TV satire series "yes minister", the Daily Star playfully riffs on Labour MP Samantha Niblett's efforts to "lead a debate in the House of Commons on sex education" with the headline "Yes yes yes Minister!"
Finally, the Sun asks "who wants to be a billionaire?" adding "it could be phew!". Lotto bosses reveal two new games, one of which comes with a "£1 billion-plus prize", the paper reports.
