From tackling the youth jobs crisis to repairing Brexit’s economic damage, John Healey has his work cut out for him

John Healey will deliver his first budget on Wednesday as UK households and businesses come under pressure from the unfolding economic shock caused by the war in the Middle East.

Against a febrile backdrop in global markets, the chancellor is facing a delicate balancing act to provide “breathing space” measures to ease the cost of living crisis while increasing growth and sticking to the fiscal rules.