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🇬🇧 United Kingdom /Economy & Trade

John Healey warns of tough first budget as Middle East war puts pressure on economy

From The Guardian · () English

Summarized by DistantNews. Read the original for the full story.

At a glance

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  • UK Chancellor John Healey warned that the country faces a difficult budget next month.
  • He said the conflict in Iran could strongly influence his first budget on October 28.
  • Healey wants to maintain a financial buffer as global bond yields reach an 18-year high.

John Healey has warned that the United Kingdom faces a tough budget next month as the conflict in Iran adds pressure to the economy.

In an interview with the Financial Times, the chancellor said the Middle East war would probably have a strong influence on his first budget, scheduled for October 28.

Healey said he wanted to ensure that the country had a “buffer” against uncertainty. His comments came as global bond yields reached an 18-year high.

buffer

· John HealeyThe chancellor said he wanted the UK to retain financial room to cope with uncertainty.
About this summary

Originally published by The Guardian. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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