Chancellor targets cost of living crisis in budget for a ‘difficult moment’
Source: The Guardian ·
Healey hopes to give ‘hope for the future’ but only modest policies are expected with important decisions deferredJohn Healey has acknowledged the UK faces a “difficult moment” but insisted he would put the country on a better path as he delivers his first budget on Wednesday against a turbulent global economic backdrop.But despite the international uncertainty, the chancellor will signal “fresh…
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John Healey has acknowledged the UK faces a “difficult moment” but insisted he would put the country on a better path as he delivers his first budget on Wednesday against a turbulent global economic backdrop. But despite the international uncertainty, the chancellor will signal “fresh hope for the future” as he attempts to sound a more optimistic note, by providing households with breathing space from rising cost of living pressures. The budget, which will be interpreted as a signal of Andy Burnham’s intent, is nevertheless expected to be a relatively modest affair as Healey grapples with stark fiscal realities, putting off important decisions on tax and spending until next year. “The world’s a highly uncertain place,” the chancellor said, in a video released before the budget. “Conflicts abroad are pushing up energy prices, and the cost of living here at home – piling pressure on the families, on businesses and on our public finances.” Healey insisted the government would move to…