UK Chancellor John Healey said fiscal discipline will be the core of his first
budget on Oct. 28, warning that debt-servicing costs are crowding out funding
for public services. Speaking at the Labor conference, Healey said the budget’s
aim is to create breathing room for households and businesses, support growth
and jobs in more regions, and open a hopeful new chapter for the UK. He said
high debt levels run counter to Labor values and that he and the prime minister
are aligned in sticking to fiscal rules.
