Politics
Healey to deliver first Budget as Middle East war drives up UK bills
October 27, 2026 at 09:00 PM · Updated 2m ago
Coverage
4 reports · over 5 hours
BNBBC News
How will Budget announcement affect Wales, as Plaid demand more cash
(opens the publisher’s site)
TGThe Guardian
Chancellor targets cost of living crisis in budget for a ‘difficult moment’
(opens the publisher’s site)
BNBBC News
Chris Mason: Budget needs to go some way towards delivering PM's promises
(opens the publisher’s site)
TGThe Guardian
Budget 2026: six charts that reveal the economic realities facing the chancellor
(opens the publisher’s site)Chancellor John Healey will deliver his first Budget on Wednesday, pledging "breathing space" measures as the Middle East war raises energy and borrowing costs.
- Healey told BBC Newscast the Budget will include a "really radical devolution of powers and resources" to local leaders.
- The Resolution Foundation estimates fiscal headroom has halved to about £12bn from the £23.6bn Rachel Reeves left behind.
- Burnham said Britain faces an "economic catastrophe and a moral failure" as nearly one million young people are not in education, employment or training.
- The government has promised not to raise income tax, national insurance or VAT in the Budget.
- Healey will offer temporary support for poorer families ahead of a January rise in energy bills.
- The Budget cancels a planned fuel duty increase and ends the carers' allowance cliff edge.
- Decisions on tax, spending and the 3% of national income defence target are deferred to next year's spending review.
- Welsh Finance Minister Elin Jones and Plaid Cymru urged the government to bring forward £1bn of £14bn pledged for rail funding.
- Jones requested extra money to avoid a real-term cut in Wales' day-to-day spending for 2027-28, saying the plan should finally treat Wales fairly.
- Petrol prices reached a four-year high amid the Middle East conflict, a major concern for shoppers at Swansea Market.