The U.K. government Wednesday set out new plans for spending and taxation intended to keep it on track to narrow its budget deficit, but at a slower pace than previously hoped for. Outlining an annual budget that he said was intended to provide “breathing space” for households facing higher energy bills as a result of the war between the U.S. and Iran, Treasury chief John Healey announced only modest increases in spending and taxation. The Office for Budget Responsibility said those measures mean the government is likely to stay within its fiscal rules, although with a reduced cushion against setbacks.…

Want to continue reading?

Get unlimited access to The Currency and The Wall Street Journal with an annual membership – and receive a free, signed copy of Vincent Browne’s new book, Charles Haughey: Glory, Greed and Guns, delivered straight to your door.

Subscribe

Cancel at any time.

Are you already a member? .