Healey Pledges Fiscal Responsibility as UK Economy Turns Corner

UK Chancellor John Healey has promised to control government spending in next month's Budget, saying that the country is 'turning a corner' and ready to seize opportunities presented by new technologies.

In his first major speech since taking over at the Treasury, Mr. Healey acknowledged the impact of high borrowing costs and rising debt interest on businesses, but insisted there was an 'optimistic story' about the UK economy's future potential.

The Chancellor plans to extend reforms of judicial review from energy projects to all major infrastructure programmes, aiming to reduce 'vexatious litigation and challenge that can block economic growth'. He also announced a £150 million investment in fast-growing firms in the North of England through the British Business Bank.