UK Budget Unveiled: Fiscal Discipline to Counter "Global Economic Storm," Aiming to Turn the Current Budget Positive Within Three Years

Zhitong Finance APP has learned that UK Chancellor of the Exchequer John Healey unveiled his first budget on Wednesday, seeking to strike a balance between protecting household budgets, supporting the economy and maintaining public finance discipline amid rising global economic uncertainty and a mix of trade tensions and geopolitical conflicts. Healey described the current environment as a "global economic storm" and said the government would use part of its fiscal buffer to cope with inflation and cost pressures brought by the war between the United States and Iran, while striving to achieve a balanced current budget by the 2029/30 fiscal year.