The UK government is preparing to explore new revenue streams in the upcoming Budget to offset financial pressures stemming from rising borrowing costs, which economists link to global tensions escalating around the Iran conflict. With public spending demands growing amid economic uncertainty, officials are weighing options to balance the books without triggering deeper market instability. The move reflects broader concerns over how geopolitical risks could strain public finances in the coming months. Details on potential tax adjustments or spending cuts remain under wraps as policymakers finalize their approach.
Chancellor John Healey is looking for revenues in next month’s Budget to compensate for hit from higher borrowing costs due to Iran war
