Budget 2026: The two big calls Chancellor John Healey has to make

Chancellor John Healey faces two major decisions before the October 28 budget, regarding the duration of economic pressures from the Iran conflict and how to sustain confidence amid global turbulence. Oil prices have risen above $100 and 10-year bond yields are at 5.4%, complicating fiscal planning. The potential end of the Iran-US war, influenced by the November US elections, could change these pressures, forcing Healey to decide whether to plan for the worst or to rely on borrowing to ease the impact.