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UK's finance minister Healey walks fiscal tightrope before first budget
Healey will seek to reassure bond investors while raising billions in tax to cover higher borrowing costs and new spending commitments, officials said.
- On Monday, Finance Minister John Healey announced plans to devolve power to city regions and earmarked £150 million from the British Business Bank for northern scale-ups ahead of the October 28 Budget.
- Facing pressure to address a £5 billion defence shortfall and fund Prime Minister Andy Burnham's social priorities, Healey stressed fiscal discipline to reassure jittery bond markets ahead of his first budget.
- Targeting the 'Northern 500'—the region's most ambitious mid-sized businesses—the £150 million investment aims to use public capital to unlock private investment and drive regional growth.
- Conservative shadow chancellor Andrew Griffith dismissed the plans as offering little comfort to families worried about tax rises, while economist Vicky Pryce warned reforms may not yield short-term gains.
- With government borrowing costs near a 28-year high, the October 28 Budget serves as a critical test for Burnham's government to maintain fiscal credibility while navigating global economic uncertainty.
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perspectivemedia.com
perspectivemedia.comHealey vows to control public spending and help UK economy deliver on potential
John Healey said the Budget next month will demonstrate a commitment to fiscal discipline.
·London, United Kingdom
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UK's finance minister Healey walks fiscal tightrope before first budget
Britain's new finance minister John Healey, a former trade unionist who has backed light-touch rules for banks, must soon decide on the right balance for a budget that could be the defining moment for Andy Burnham's premiership.
·London, United Kingdom
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UK finance minister Healey seeks growth through decentralising power
LONDON, Sept 7 (Reuters) - Britain's finance minister, John Healey, will use his first major speech since taking office seven weeks ago to set out how Prime Minister Andy Burnham's plan to devolve power away from central government can help revive gr...
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Total News Sources25
Leaning Left3Leaning Right4Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 23%
C 46%
R 31%
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