Chancellor Warns of Gloomy Economic Outlook Due to Global Instability and Urges Fiscal Prudence in Upcoming Budget
-
Chancellor warns of worse economic forecasts in upcoming budget statement, with debt interest £20bn-£30bn higher than expected.
-
Cites global instability from war in Ukraine and events in Israel as reasons for prudence in UK fiscal policy.
-
Short term outlook is challenging, so must be careful not to overextend with borrowing.
-
IMF conference overshadowed by news of atrocities in Israel and fightback from Israeli forces.
-
Chancellor stresses need for united condemnation of brutal terrorist attack in Israel that he calls most appalling in his adult lifetime.