Healey Defends UK Budget, Warns 'Tough Decisions' Ahead

Chancellor of the Exchequer John Healey defended his first budget against criticism that it lacked ambition, while warning the UK would face “tough decisions” about its spending priorities in the years ahead. Speaking to Bloomberg’s Caroline Hepker, Healey said a tax increase on banks would be temporary, and that he had urged the Bank of England to consider lenders’ international competitiveness in its review of capital requirements. (Source: Bloomberg)