UK Finance Minister John Healey is expected to pay for all new giveaways in this month’s budget, including a cost-of-living package, with higher taxes or spending cuts rather than more borrowing, the Financial Times reported on Wednesday.
The October 28 fiscal package would be “scorecard positive” in 2029-30, the final year of the parliament, meaning that all extra discretionary spending was fully funded, the newspaper said, citing people briefed on UK budget preparations.
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