Healey "does little" to boost growth or tackle spending bill as can gets kicked down the road | FXStreet

The UK budget delivered “mild relief” rather than a growth jump, keeping a partial rebuild of fiscal headroom to £15bn. That buffer, at about 0.4% of GDP, may not fully calm market worries about further tax rises before the next fiscal event. The Iran-related shock has cut the 2027 growth forecast to 1.0% from 1.6%, and debt interest costs this year are £14bn higher than planned, narrowing flexibility. Tax and spending changes were described as targeted and modest, with a 3-percentage-point bank surcharge increase to 6% and extensions to the electricity VAT cut and fuel duty freeze to July. Welfare reform was deferred.