SALT LAKE CITY (AP) — Jazz forward Jaren Jackson Jr. will be sidelined for at least six weeks after tearing the MCL in his right knee during the second quarter of Utah’s 110-105 loss to the Memphis Grizzlies.
Lauri Markkanen, who sprained his right wrist in the first quarter of the same game on Monday night, is listed as day to day.
Jackson and Markkanen were two of the top three scorers for the Jazz in the team’s first three games.
Both players have struggled with injuries during their time in Utah.
Markkanen appeared in only 89 games over his previous two seasons with the Jazz and has not appeared in more than 66 games in a season since being traded to Utah before the 2022-23 season.
Jackson only appeared in three games with Utah last season after being acquired in a trade with Memphis before undergoing season-ending surgery on his left knee.
See AP’s full NBA coverage here
Utah Jazz forward Lauri Markkanen, left, looks for a play against Memphis Grizzlies forward Cameron Boozer, right, during the first half of an NBA basketball game, Monday, Oct. 26, 2026, in Salt Lake City. (AP Photo/Rob Gray)
New Orleans Pelicans guard Saddiq Bey (41) and Utah Jazz forward Jaren Jackson Jr. (20) fight for possession of the loose ball during the final minute of play during an NBA basketball game, Friday, Oct. 23, 2026, in Salt Lake City. (AP Photo/Tyler Tate)
LONDON (AP) — British Treasury chief John Healey faces a fine balancing act when he delivers his first budget statement Wednesday, with the economic backdrop made more difficult as a result of the turmoil caused by the Iran war.
Healey, who was appointed chancellor of the exchequer in July when Andy Burnham became prime minister, takes center stage when he stands up in the House of Commons in what is arguably the key set piece of the parliamentary calendar. He emerged with his famous ceremonial red budget briefcase and his Treasury team from his office at 11 Downing Street a little more than an hour before he is due to deliver his speech.
Even though the British economy has been more resilient than anticipated this year and has grown strongly, the problem is that the money just isn’t there for Healey to enact many of the Labour government's ambitions on restoring the health of the country's public services.
The U.K.’s economy has been hit — like others — by the inflation generated by the Iran war and the ensuing bottlenecks in the Strait of Hormuz, which have squeezed global oil and gas supplies.
Inflation in the U.K. has risen to a near one-year high of 3.5% as the Iran war continues to ratchet up fuel prices, and is expected to go higher in coming months. As a result, the Bank of England is expected to raise interest rates soon, which will further raise the costs to the government of servicing its debt.
As a result, Healey’s budget is expected to be relatively low-key, especially at a time when bond markets are fretting over debt levels around the world. France has been in the spotlight recently following a wave of protests that have exposed the parlous state of its finances.
Matthew Amis, an investment director at Aberdeen Investments, said a “dull budget” could well be rewarded in the financial markets by lower government borrowing costs, which could in the longer run free up extra resources to plow into schools, hospitals and the military, for example.
“The one note of caution is that international investors are very quick to punish countries with a weak fiscal story. Just ask France,” he said.
In his few comments ahead of the budget, Healey has said he will aim to give businesses and families “some breathing space” from the upward march in the cost of living. Ahead of his statement, Healey abolished a charge that everyone pays on their domestic natural gas bills.
“My budget will draw a line in the sand on an energy policy that has failed British bill payers for years, letting extra costs on bills pile high and leaving households even more exposed to global shocks,” he said.
Further measures to help households and businesses deal with higher energy bills are expected.
Burnham has also made pledges about reducing, and even eradicating, homelessness, improving care for the elderly and meeting NATO targets on defense spending.
One source of revenue is expected to come from the banks, which have benefited from higher interest rates. A higher surcharge on their profits is anticipated. Another revenue source may come from higher taxes on the gambling sector.
The main problem facing Healey is the same as that which confronted his predecessor Rachel Reeves, who was chancellor after Labour returned to power in a landslide election victory — the country's debt mountain.
Even though the trajectory of the public finances was recently given a nod of approval from the International Monetary Fund, the U.K.’s debt has passed 3 trillion pounds ($4 trillion) for the first time ever, requiring 8% of government spending to service it.
There will be particular interest on what Healey says on defense, as he quit as defense secretary earlier this year in protest at the lack of money being provided, a move that heaped pressure on Burnham’s predecessor, Keir Starmer.
Paying for those measures would require him to find the money from somewhere else — tax rises or spending cuts — if he is to fend off nervous bond market investors.
Britain's Chancellor of the Exchequer, John Healey, holds up the traditional red ministerial box outside No 11 Downing Street before departing to the House of Commons to deliver the first budget in London, England, Wednesday, Oct. 28, 2026. (Dylan Martinez/Pool Photo via AP)
Britain's Chancellor of the Exchequer John Healey leaves 11 Downing Street with the ministerial red box heading to the House of Commons to deliver the budget statement in London, Wednesday, Oct. 28, 2026.(AP Photo/Thomas Krych)
Britain's Prime Minister Andy Burnham leaves 10 Downing Street to attend the weekly Prime Ministers' Questions session in parliamentin London, Wednesday, Oct. 28, 2026.(AP Photo/Alastair Grant)
Britain's Chancellor of the Exchequer John Healey poses on the doorstep of 11 Downing Street with the ministerial red box before heading to the House of Commons to deliver the budget statement in London, Wednesday, Oct. 28, 2026.(AP Photo/Alastair Grant)
Britain's Chancellor of the Exchequer John Healey poses on the doorstep of 11 Downing Street with the ministerial red box before heading to the House of Commons to deliver the budget statement in London, Wednesday, Oct. 28, 2026.(AP Photo/Thomas Krych)
Britain's Prime Minister Andy Burnham, right, and Chancellor of the Exchequer John Healey meet ahead of the UK budget at 11 Downing Street in London, Monday, Oct. 26, 2026. (AP Photo/Alberto Pezzali, Pool)
Britain's Prime Minister Andy Burnham, right, and Chancellor of the Exchequer John Healey meet ahead of the UK budget at 11 Downing Street in London, Monday, Oct. 26, 2026. (AP Photo/Alberto Pezzali, Pool)
Britain's Prime Minister Andy Burnham, right, and Chancellor of the Exchequer John Healey meet ahead of the UK budget at 11 Downing Street in London, Monday, Oct. 26, 2026. (AP Photo/Alberto Pezzali, Pool)
