UK Chancellor Prioritizes Spending Control, Hints at Tax Hikes in October Budget

UK Chancellor John Healy signals fiscal consolidation as a priority, calling the near-10% of budget spent on debt interest 'not at all progressive' and declining to rule out tax increases in the upcoming October budget. This marks a shift toward tighter fiscal policy, potentially affecting growth and gilt yields. The exact measures remain unspecified, with market impact contingent on budget details.