Chancellor John Healey's first Budget
The gist
UK Chancellor John Healey delivers his first Budget, the first under PM Andy Burnham's three-month-old Labour government.
Borrowing is £6 billion above forecast, testing the fiscal rules.
How it unfolded
- Nov 26, 2025The previous Budget was delivered.
- Oct 23, 2026Bloomberg reported Healey was in his final week of drafting, with the budget described by him and Treasury officials as "Do no harm. Steady as she goes. Focused."
- Oct 25, 2026Small business owners in the West Midlands said rising costs were making it harder to grow, invest and create jobs ahead of the Budget.