Chancellor targets cost of living crisis in budget for a ‘difficult moment’

Chancellor John Healey will deliver his first budget against a backdrop of global economic turbulence, acknowledging the UK is facing a "difficult moment" while aiming to offer a more optimistic outlook. The budget is expected to introduce modest measures to ease cost-of-living pressures for households, though major policy decisions appear to have been postponed. With international instability looming, Healey will seek to provide some financial relief while navigating economic challenges. The focus will be on balancing short-term support with long-term stability amid uncertain economic conditions.

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 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. Continue reading...