Britain prepares constrained budget as debt and defence pressures mount
British Prime Minister Andy Burnham’s new government unveils its first budget Wednesday, testing a commitment to ease the cost of living and ramp up defense spending with little financial room for maneuver. It could prove to be a tall order for finance minister John Healey as rising inflation and borrowing costs—largely a consequence of the US-Iran war—increase the government’s debt pile and heap pressure on business