A War Budget on the Horizon The UK's first budget under new Chancellor John Healey is shaping up to be a challenging one, with global instability courtesy of the Middle East conflict adding an unpredictable element.
As Healey himself noted, "the conflict has hit inflation, growth, and borrowing costs. " Economists warn that he'll need to raise taxes or implement cost cutting measures just to keep the £24bn fiscal headroom intact.
Healey's team is expected to tackle Labour's 2024 manifesto promises, particularly corporation tax.