Politics
Healey delivers first UK budget under Burnham
October 28, 2026 at 12:35 PM · Updated 2h ago
Coverage
8 reports · over 4 hours
BNBBC News
Your pay, energy bills and cash Isa: How the Budget affects you
(opens the publisher’s site)
TGThe Guardian
Budget 2026: John Healey offers £100 payment to households to help navigate ‘global economic storms’
(opens the publisher’s site)
BNBBC News
Chancellor John Healey begins to deliver his first Budget
(opens the publisher’s site)
TGThe Guardian
Budget 2026: key points at a glance
(opens the publisher’s site)
BNBBC News
Watch: Chancellor holds red box outside No 11
(opens the publisher’s site)
AJAl Jazeera English
Burnham’s government unveils its first UK budget: What to expect
(opens the publisher’s site)
TGThe Guardian
Healey poised to overturn cut to cash Isa allowance in first budget
(opens the publisher’s site)
BNBBC News
Former Conservative chancellor unsure Budget will 'fix big problems'
(opens the publisher’s site)Chancellor John Healey has delivered his first budget under Prime Minister Andy Burnham, setting out tax and spending plans.
- UK government debt exceeded £3 trillion for the first time in September, with annual debt interest costs reaching £100 billion.
- Healey said the budget will move "money and power out of Westminster and into every postcode around Britain."
- Burnham said the budget will fully fund the government's defence plan, including NATO targets of 3 percent of GDP by 2030 and 3.5 percent by 2035.
- Healey plans to overturn predecessor Rachel Reeves's cut to the cash ISA allowance, keeping the £20,000 annual limit.
- Speaking on BBC Breakfast, former Conservative Chancellor Jeremy Hunt said he was unsure the budget would 'fix big problems.'
- Healey framed the budget as a response to global uncertainties, citing trade tensions and the war in Iran.
- He pledged fiscal discipline, with the OBR projecting £15 billion of headroom in 2029-30.
- Healey scrapped the hydrogen levy and removed gas standing charges for 23 million homes.
- Healey announced a £100 payment to 20 million households in council tax bands A-D to help with energy bills.
- He extended the temporary VAT cut on electricity to next July and cancelled planned fuel duty rises.
- The measures are funded by a windfall tax on banks and tax rises for landlords and savers.
- Healey opened the speech describing it as a Budget for the 'working people of Britain' that would give the country 'breathing space'.