UK faces ‘very difficult trade-offs’ in budget because of Iran war, say analysts
- NIESR warns Burnham faces tough budget trade-offs from Iran war fallout
- Inflation forecast to hit 3.8%; £24bn extra needed by 2030
- Budget headroom cut to £3bn; growth downgraded, debt nearing £3tn
Andy Burnham has been warned by the National Institute of Economic and Social Research (NIESR) that he faces "very difficult trade-offs" in the autumn budget, as the ongoing Iran war keeps oil prices and inflation elevated. The thinktank said the new prime minister has inherited a "challenging" economic…