Politics · 2 hours ago
Healey's budget shows higher borrowing, smaller financial buffer.
Chris McAndrew via Wikimedia Commons (CC BY-SA 4.0)
John Healey, the new Chancellor, delivers his budget on 28 October with the cushion Rachel Reeves left against the fiscal rules expected to be about halved. Debt interest hit £10.9bn in September, the highest figure for that month on record, as the Iran war pushed up inflation. The Resolution Foundation, an economic thinktank, expects the buffer to fall to about £12bn from £23.6bn.
Reported by Guardian · How we write briefs