UK Labour faces austerity revival as living standards set for worst decade on record

UK Defence Secretary John Healey faces criticism over plans to tighten public spending around 2030, with think tanks warning of a return to austerity amid the worst decade for living standards on record. The claims are based on think tank assessments, not yet official policy, and the political fallout is uncertain. This matters as it signals potential fiscal tightening that could weigh on UK growth and consumer confidence.

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