Britain to spend £14bn more on debt servicing — The Guardian

In the United Kingdom, Chancellor John Healey said while presenting the budget that the country will spend £14bn more on servicing the national debt this year. As The Guardian reports, fiscal discipline is Healey's first priority as chancellor.

Global uncertainty

According to Healey, the budget was presented during a period of global uncertainty and pressure that also affect the country's residents. He said the government would take a new approach to steer the United Kingdom through global economic shocks and give people renewed hope for the country's future.

The chancellor also noted Rachel Reeves's fiscal discipline, saying that she had made the necessary difficult decisions.

More current news is available on the UA.News Telegram channel Telegram.

War in Iran and trade

Healey said that trade tensions are holding back the growth of the global economy. He also linked economic pressure to the war in Iran, stressing that the United Kingdom did not seek this conflict.

According to him, the war has increased costs for British families through higher energy prices and rising interest rates. The Guardian's senior political correspondent Peter Walker noted that, in his first budget, Healey spoke of some respite regarding the cost of living and a departure from the Keir Starmer era, while also emphasizing global uncertainty and the war in Iran.