John Healey warns of tough first budget as Middle East war puts pressure on economy

Chancellor says he wants to ensure country has buffer' against uncertainty as global bond yields hit 18-year high

The chancellor has indicated that the UK will face a tough budget next month due to Trump's war in the Middle East.

In an interview with the Financial Times, John Healey said the conflict in Iran would probably have a strong influence on his first budget on 28 October.