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 Labour 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 Labour values and that he and the prime minister are aligned in sticking to

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 Labour 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 Labour values and that he and the prime minister are aligned in sticking to fiscal rules.