What is the Budget and what could be in it?

Share Save Add as preferred on Google Dan Kitwood/Getty Images Chancellor John Healey will set out Labour's tax and spending plans when he delivers his first Budget on 28 October.

He has refused to rule out tax increases after acknowledging government borrowing costs are at "historic highs".

But the government's room for manoeuvre on tax is limited.

Before the 2024 general election, Labour promised not to increase three big revenue earners for the government: income tax, National Insurance and VAT.

In his statement, delivered to MPs in the House of Commons, Healey will set out how the government plans to raise or lower taxes.

Alongside the Budget, the Treasury will publish details about the measures and their costs.