The chancellor, John Healey, has said Britain faces a “difficult moment” but will promise to set the country on a better course when he presents his first budget on Wednesday, The Guardian reports.
In a video released ahead of the statement, he blamed conflicts abroad for driving up energy prices and the cost of living. He said the government would ease pressure on households while keeping to Labour’s fiscal rules.
The budget is expected to be limited in scope, with major tax and spending decisions put off until next year because of tight public finances and market turmoil linked to the Iran conflict. Temporary help for poorer families ahead of a steep rise in energy bills in January is expected, along with longer-term reforms of the energy market. The statement is also being watched as an early sign of Andy Burnham’s priorities as prime minister.
Source: The Guardian
