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Healey tells UK to brace for difficult Budget amid rising costs driven by Iran war
Jump to contentAllNewsSportCultureLifestyleJohn Healey has sent a warning ahead of next month’s Budget (PA)Chancellor John Healey has warned of a challenging autumn Budget on 28 October as the UK economy faces rising borrowing costs and inflationary pressures driven by US president Donald Trump's military action in the Middle East. The ongoing global turmoil threatens to constrain Prime Minister Andy Burnham's ambitions to tackle the cost-of-living crisis and deliver his broader government spending plans. Speaking to the Financial Times, Healey insisted he and the Prime Minister are in lockstep to meet Treasury fiscal rules by building a resilient financial buffer against global uncertainty. Facing criticism from the Conservatives over defence spending, Healey declined to recommit to allocating 3% of GDP by 2030 but maintained the UK would hit a 3.5% NATO target by 2035. Ahead of a key speech on Monday, the Chancellor announced revisions to Treasury rules that lower the discount rate from 3.5% to 3% to make long-term regional infrastructure projects easier to fund. In fullChancellor warns tough Budget looms as Trump’s war with Iran hits UK economyMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
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cityam.com
'Tax hikes on the way': How the global bond rout is boxing in Healey
Chancellor John Healey is likely to roll-out "large tax hikes" at this year’s Budget due to a rout in global bond markets, economists warned.
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independent.co.uk
Tax rises still on the cards for Burnham’s October Budget
Jump to contentAllNewsSportCultureLifestylePrime Minister Andy Burnham has refused to rule out tax rises in his upcoming October Budget during his first Prime Minister's…
