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John Healey

  1. Follow-up: UK Chancellor John Healey presents first budget, aiming to help families through a 'difficult moment'

    British Chancellor John Healey presented his first budget on Wednesday, Oct 28, the first annual tax and spending plan of the government formed when Keir Starmer was replaced as prime minister in July. In a pre-budget statement Healey said 'this budget is for getting through this difficult moment', promising families 'breathing space' and targeted support for businesses. Inflation and borrowing costs in Britain have risen because of the US-Iran war, and government debt has increased. The prime minister said on Monday the budget would explain how to fund the defence investment plan drawn up by his predecessor; the BBC reported that details on how to reach NATO's target of defence spending at 3.5% of GDP by 2035 were expected to be delayed.

    Oct 28, 2026 Afternoon