Faisal Islam: Chancellor's attempts to boost vibes may limit tax rises

BBC economics editor Faisal Islam assessed that Chancellor John Healey’s speech, unlike pre-Budget scene-setters in the previous two years, did not appear designed to prepare the public for major tax rises. Healey acknowledged borrowing costs were too high but refused to discuss taxes before the 28 October Budget, instead stressing public finance institutions as tools to back technology companies and regional growth. The message came as Jaguar Land Rover confirmed 4,000 job cuts, and Healey said long-term growth would determine whether the government meets its fiscal rules.