UK chancellor delivers first Burnham budget focused on cost-of-living relief

Briefing by News4U · First published 2026-10-28 13:25:58 UTC

Chancellor John Healey presented the government's first budget in Parliament on Wednesday, promising measures to ease pressure on households while maintaining fiscal rules.

Chancellor John Healey delivered the Burnham government's first budget in the Commons on Wednesday at 12:30pm, describing it as a low-key package to give "breathing space" to low- and middle-income households. [1] [2] [3]

Healey pledged to stick to Labour's fiscal rules, fund a 298-billion-pound defence plan and close a 4.7-billion-pound gap through other departmental cuts, while new taxes on banks and online marketplaces are expected to raise about 2 billion pounds. [1] [2]

Sources

1. Wednesday briefing: We asked you - what do you want from the Burnham government’s first budget?

   The Guardian · 2026-10-28 06:43:48 UTC · Excerpt

2. Burnham’s government unveils its first UK budget: What to expect

   Al Jazeera · 2026-10-28 10:42:52 UTC · Excerpt

3. Chancellor begins to deliver his first Budget

   BBC Business · 2026-10-28 13:13:17 UTC · Full text

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