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John Healey pledges to keep fiscal rules in next budget speech

The chancellor said the budget, due next month, will be shaped by a challenging global backdrop and included a plan for a mayor-led local apprenticeship service aimed at boosting youth training.

Reported · Written up by our desk · Europe

British Chancellor John Healey pledged at the Labour party conference in Liverpool that his next budget will stick to the government’s fiscal rules, arguing it is not “progressive” to lose control of public finances even as welfare costs rise and borrowing costs climb to a record high, according to The Guardian.

Healey said the forthcoming tax-and-spending event needs to reflect a challenging global backdrop, as he set out measures he described as aimed at supporting jobs and growth.

Among the announcements, he said Labour would create a new local apprenticeship service led by mayors, targeting young people and aimed at delivering “thousands more apprenticeships” across the country.

He also signaled that Labour is gearing up for welfare reform intended to address a sharp rise in youth welfare figures, The Guardian added.

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