British Chancellor John Healey will set out the country’s autumn budget, the government’s tax and spending plans, the first under Prime Minister Andy Burnham’s premiership amid high inflation and government spending levels.

While the budget will be announced in parliament on Wednesday at 12.30 GMT, speculation about what it will lay out has ranged from a series of tax announcements to commitments to defence spending.

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But the country continues to deal with a rising cost-of-living crisis and energy bills are expected to see their biggest rise in four years in January due to the ongoing conflict in the Middle East.

As total United Kingdom borrowing broke through the 3 trillion pounds ($3.99 trillion) barrier for the first time in September,…