Healey’s headroom cut could wiped out by Iran war

Hormuz crisis threatens to blow £7bn hole in Chancellor's plans

John Healey has been warned he faces a £7bn financial black hole if energy supplies from the Middle East remain choked off by Donald Trump's Iran war.

Healey’s headroom cut could wiped out by Iran war

Chancellor John Healey’s fiscal headroom could be entirely wiped out by the impact of the war in Iran as economists said the Office for Budget Responsibility could offer a more pessimistic view on the UK economy.  A central fiscal forecast by analysts at EY suggests that the Chancellor’s buffer against a borrowing target has fallen [...]