UK Treasury chief faces headwinds as he delivers first budget under new prime minister, Andy Burnham
LONDON (AP) — British Treasury chief John Healey faces a fine balancing act when he delivers his first budget statement Wednesday, with the economic backdrop made more difficult as a result of the tur UK Treasury chief, John Healey, faces a balancing act as he delivers his first budget statement under new Prime Minister Andy Burnham, due to the economic backdrop surrounding the Iran war and bottlenecks in the Strait of Hormuz. Despite the British economy being more resilient than anticipated this year, there is a lack of resources for Healey to implement many of the Labour government's aims on restoring public services. This comes as inflation in the U.K. has risen to a near one-year high of 3.5%, and the Bank of England is expected to raise interest rates, raising costs for servicing the debt. Despite this, Healey's budget is expected be low-key due to concerns over global debt levels.
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LONDON (AP) — British Treasury chief John Healey faces a fine balancing act when he delivers his first budget statement Wednesday, with the economic backdrop made more difficult as a result of the tur... [3470 symbols]
