UK chancellor Healey targets cost of living in first budget

UK chancellor John Healey is delivering his first budget on Wednesday, admitting the country faces a 'difficult moment' amid global turmoil but promising 'fresh hope for the future'. Measures to ease cost-of-living pressure are expected to feature heavily, though stretched public finances and market turmoil from the Iran conflict limit giveaways, with big tax and spending decisions deferred to next year.