// BBC BUSINESS NEWS — FINANZA
Dharshini David: Healey buys himself some time, but big questions still unanswered
While earnings are rising, forecasters predict that is not compensating for higher prices and taxes
John Healey talked of charting a new course for Britain, but this Budget was more about course-correcting than charging down a new path.
It was abundantly clear that the financial fallout from that conflict in the Middle East has hampered the finances of households and businesses – and the government's ability to help.
While the government targeted those impacted by higher energy and fuel bills, the "breathing space" it aimed to provide was limited; it is a pill that doesn't fully alleviate the pain.
The most telling evidence was that official forecasters predict that while earnings will rise, that is not compensating for higher prices and taxes.
Even after the extra help is taken into account, households' incomes after inflation and tax are set to be typically lower across the next two years than the start of the parliament, a sign of how much the war has blown prosperity off course.
But it can't be all be blamed on the war. Taxes haven't helped. Although there were few major measures aimed at households, the policy of previous chancellors of freezing the thresholds at which different rates of tax on income apply - fiscal drag - has been maintained in the background, scooping more money out of pay packets.
Overall, this Budget has the tax burden - the proportion of the nation's income going to the tax office - rising to a new historic high of 38.6%
However, a more generous package of help would have been hard to pull off. The impact of higher inflation and debt have increased borrowing costs by £14bn in the past year alone.
The Chancellor had to prove to the markets which lend the government money that he has a plan to bring down future debt to avoid those costs climbing further.