Andy Burnham has warned of a "challenging" Budget as the Iran war drives up oil and gas prices.
The Prime Minister said he would do what he could to ease the cost of living after the Middle East conflict pushed price rises to a five-month high.
Mr Burnham branded the latest up-tick in inflation a "concern", as official figures showed the headline rate rose from 2.9pc in July to 3.1pc in August. However, he insisted that Britain's economy had shown "resilience across the board".
His warning of a difficult Budget in October will raise fears of tax rises as the fallout from the Iran war continues to weaken the public finances and erode the Government's fiscal headroom.
Oxford Economics has warned that the Chancellor will need to find £11bn if he wants to maintain the same wiggle room on the Treasury's books.
#warned #rises
The Prime Minister said he would do what he could to ease the cost of living after the Middle East conflict pushed price rises to a five-month high.
Mr Burnham branded the latest up-tick in inflation a "concern", as official figures showed the headline rate rose from 2.9pc in July to 3.1pc in August. However, he insisted that Britain's economy had shown "resilience across the board".
His warning of a difficult Budget in October will raise fears of tax rises as the fallout from the Iran war continues to weaken the public finances and erode the Government's fiscal headroom.
Oxford Economics has warned that the Chancellor will need to find £11bn if he wants to maintain the same wiggle room on the Treasury's books.
#warned #rises
2 hours ago
