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Heather Stewart

Heather Stewart

Healey is meeting with UK journalists now at the IMF in Bangkok, including my colleague Heather Stewart.

The August print- a 0.1% growth instead of the predicted 0.1% contraction – would have been very welcome news this morning, but he still faces a major challenge trying to find cash going into his 28 October budget.

The idea of raising taxes on bank profits has been floating around, and Healey is asked on this. He replies:

“I don’t want anybody to try and read in or second guess what [we may] do in two weeks’ time.

My observations on the banks are just that people too often see them as a big distant financial institutions, when they are hardwired into the economic fabric of this country and our future prospects.

That said, you know I’ve got decisions to take in the in the budget, and I will. I’ll set those out in two weeks’ time.

Healey added that his “special responsibility as Chancellor is to protect the resilience of the British economy for the future”.

He also repeated comments welcoming the IMF’s support for the UK’s fiscal plans.

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