PM announces support for car and pharma industries amid an 'age of insecurity'

Keir Starmer has announced sweeping measures to support the car and pharmaceutical industries as he said Britain faced a "changing and completely new world" after Donald Trump's tariffs.

- Eleni Courea

The prime minister warned of an "age of insecurity" as stock markets tumbled for a third day after the US president announced blanket import taxes on countries across the world.

Speaking at the Jaguar Land Rover factory near Birmingham, Starmer said US tariffs - set at 10% for UK exports and 25% on cars - were a "huge challenge for our future and the global economic consequences could be profound".

He defended the fiscal rules set by the chancellor, Rachel Reeves, in her October budget and said now was "the time to build on them" to ensure stability, but declined to commit to keeping them until the next election.

Starmer also recommitted to Labour's manifesto pledge not to raise VAT, income tax or national insurance for employees until the end of this parliament.