Finance minister John Healey is expected to delay until next year details of how Britain will meet Nato's target of defence spending reaching 3.5% of GDP by 2035. (EPA Images pic)LONDON: Britain's finance minister John Healey will unveil his first budget Wednesday, as he juggles commitments to defence spending and easing household bills with little financial room to manoeuvre.
It could prove to be a tall order for prime minister Andy Burnham's new administration as rising inflation and borrowing costs - largely a consequence of the US-Iran war - increase the government's debt pile and heap pressure on businesses and individuals.
"We can't stop these shocks that hit Britain, but we can make Britain more resilient when they do," Healey said in a statement released on the eve of the Labour government's budget.
