Healey Delivers First Budget Amid Fiscal Pressure
Chancellor faces demands for increased military spending and funding for new pledges, alongside calls for tax hikes and an extended VAT cut.
Sarah Connor
John Healey is set to deliver his first Budget this afternoon.
New measures include a 'mansion tax' on homes valued over £2m. The Chancellor also announced a 3 per cent bank surcharge.
The VAT cut will extend to July 2027.
The Chancellor must ensure full funding for pledges set out by the Prime Minister during his first weeks in office. Donald Trump’s war in the Middle East created massive global economic insecurity, the Chancellor claims.
The Government’s credit card has now been maxed out.
Kemi Badenoch stated the Government’s credit card has now been maxed out. Andy Burnham claims there would be no general election before 2029.