Chancellor Healey delivers first budget under new Labour government
The short version
- John Healey delivered the UK's first budget as chancellor under the new Labour government.
- The budget includes £100 energy support for over 20 million homes and extends a VAT cut on domestic electricity.
- Healey announced a corporation tax surcharge hike affecting JPMorgan Chase, which may face a £100m to £150m tax bill.
- He pledged to reduce the welfare bill before the next election with a 'tough' approach to young people not accepting job or training support.
- The fiscal watchdog projected that disability benefits will cost £100bn annually by the end of the decade.
What we don’t know yet
- How the government plans to reduce the welfare bill in practice.
- Whether the tax increases on banks and savers will affect investment or economic growth.
- The exact timeline for implementing welfare reforms and their impact on young people.
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Coverage compared
Left · 4
Centre · 5
How coverage grew
First reported by Daily Mail Chancellor John Healey ‘rules out’ warehouse tax in Budget after M&S boss’s call for growth
Daily Mirror More than 60% of voters back wealth tax for mega-rich, John Healey told ahead of first Budget
Politico Europe Revealed: The chancellor’s plan to survive the budget
The Spectator Australia John Healey faces an impossible task at the coming Budget
All 210 articles
- Daily Mail, right-leaningJohn Healey refuses to guarantee he will meet defence spending targets as Streeting insists he ‘trusts’ embattled Chancellor
- Daily Mail, right-leaningNatWest boss blasts lack of ‘ambition’ in Budget and questions Burnham’s growth strategy
- Daily Mail, right-leaningQUENTIN LETTS: We are urged to consider John Healey a sober presence. Yet there he was in the pub sinking a pint of beer in one go
- Daily Mail, right-leaningHumiliation for Healey: Chancellor is forced into screeching U-turn just hours after promising to cut welfare bill before next election
- Daily Mail, right-leaningLandlords warn Budget tax rise will force them to raise rents
- Daily Mirror, left-leaning‘Working people have paid the price of global crises for far too long - Labour must be bolder’
- Daily Mail, right-leaningInheritance tax take will surge 66% to £15bn within five years... as families face big bills
- Daily Mail, right-leaningHealey faces bingo backlash as Budget tax raid puts 77 sites and 1,200 jobs at risk
- Daily Mirror, left-leaningMoment Chancellor John Healey downs post-Budget pint in just 12 seconds
- Brussels Signal, right-leaningItaly approves 2027 budget with tax rises on banks, insurers and energy firms