Economy

What to expect from John Healey’s first budget: who wins, who pays?

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Briefings

John Healey's first budget will set the tone for Andy Burnham's premiership, with key changes expected to favor struggling households, new homebuyers, and small shops while potentially increasing levies on banks and online marketplaces. The budget is scheduled for Wednesday, following Healey's summer promises that the event would not face the leaks seen with his predecessor Rachel Reeves. Public consequences regarding tax and spending adjustments remain to be confirmed as the final details are still being finalized.

Key points

• John Healey will present his first budget on Wednesday, marking the start of his tenure as Chancellor.
• The budget is expected to favor struggling households, new homebuyers, and small shops while potentially increasing levies on banks and online marketplaces.

Context

John Healey's first budget will set the tone for Andy Burnham's premiership, with key changes expected to favor struggling households, new homebuyers, and small shops while potentially increasing levies on banks and online marketplaces. The budget is scheduled for Wednesday, following Healey's summer promises that the event would not face the leaks seen with his predecessor Rachel Reeves.

Limitations

Public consequences regarding tax and spending adjustments remain to be confirmed as the final details are still being finalized. Official and unofficial sources indicate much of what Healey is likely to announce, but specific figures and net impacts are not yet available.

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