Healey announces his first Budget will be on 28 October
UK Chancellor John Healey has scheduled his first Budget for October 28, emphasizing fiscal discipline and a shift of power away from Westminster. The government faces pressure to balance spending priorities like defense and social care while adhering to strict fiscal rules.
Why it matters
The budget will define the economic direction of the new government and its ability to meet manifesto pledges.
Image source, Getty Images Image caption, Chancellor John Healey said his first budget would be built around fiscal discipline
Chancellor John Healey has announced the date of his first Budget will be Wednesday, 28 October.
In a video message, he said: "This will be a Budget that moves money and power out of Westminster, and into every postcode around Britain.
"It will be built on fiscal discipline. It will meet our fiscal rules. It'll give businesses and families some of the stability they need to plan for the future. Now, let's get on with the job."
Prime Minister Andy Burnham has said his government will stick to Labour's fiscal rules on spending and borrowing as well as the party's 2024 manifesto pledges not to increase income tax, VAT or national insurance contributions.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in