gg2
Healey first major speech as chancellor
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Chancellor John Healey pledged fiscal discipline in his first major speech in Coventry. The speech sets the tone for the October 28 Budget.
Background
John Healey became Chancellor in July under Prime Minister Andy Burnham. His first major speech, delivered on September 7 at a manufacturing center in Coventry, aimed to outline his economic vision, focusing on regional growth and fiscal discipline. The speech comes ahead of his first Budget on October 28, with the UK facing high debt interest costs and global uncertainties.
How it unfolded
- Jul 2026John Healey appointed Chancellor of the Exchequer by Prime Minister Andy Burnham.
- Sep 2, 2026Politico reports Healey's first major speech is set for September 7, focusing on growth.
- Sep 6, 2026Bloomberg previews Healey's plan to announce a £150 million fund for firms in the North of England.
- Sep 7, 2026Healey delivers his first major speech in Coventry, vowing fiscal discipline and saying the UK economy is 'turning a corner'.
Who’s saying what
- Official
- Healey said fiscal discipline 'underwrites every promise this government makes' and that he is in lockstep with the PM on meeting fiscal rules.
- Analysts
- Reuters notes Healey faces a 'fiscal tightrope' with rising borrowing costs and a £5 billion defence shortfall, and the budget is likely to include tax increases.
- Public
- The head of a major UK consumer-facing business applauded Healey for saying he was as worried about the cost of doing business as the cost of living.