Chancellor calls for 'confidence about Britain' despite 'historic high' borrowing costs
John Healey detailed plans to spread growth more widely across the UK, ahead of his first Budget.
Chancellor John Healey has called for a restoration of "confidence about Britain" despite acknowledging the challenge of "historic high" borrowing costs.
In an interview with the BBC, Healey promised that "doubling down" on "more growth generated in more places" will be a central priority ahead of his first Budget on 28 October.
The chancellor warned that "times are tough", referring to the announcement of 4,000 mostly UK-based jobs at Jaguar Land Rover (JLR).
But recent ructions in government debt markets have piled fresh pressure on already-stretched public finances, with the Treasury needing to fill possible multi-billion pound gaps caused by rising borrowing costs and the need to fund higher defence spending.