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John Healey sets 28 October for first UK Budget

The chancellor said the Budget will follow fiscal discipline and the government will stick to Labour's fiscal rules on spending and borrowing, without raising income tax, VAT, or national insurance.

Reported · Written up by our desk · Europe

UK Chancellor John Healey has announced that his first Budget will take place on Wednesday, 28 October, according to BBC Business. In a video message, he said the plan will aim to shift money and decision making out of Westminster and into communities across the country.

BBC Business also reported that Prime Minister Andy Burnham said the government will maintain Labour's fiscal rules for spending and borrowing, and follow the party's 2024 manifesto pledge not to increase income tax, VAT, or national insurance contributions.

The BBC said the story was still developing, with more details expected to be published shortly.

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