John Healey to deliver first Budget as Chancellor on 28 October

John Healey is due to deliver Budget 2026 to Parliament on 28 October, his first Budget as Chancellor of the Exchequer, the most senior minister responsible for the government's spending and taxes. The government's Budget documents list him in that role.

Reuters has described the Budget as cautious. In its analysis, the news agency said the plan gives priority to stability in the bond market, the market in which investors lend money to the government. The Budget comes as global borrowing costs are rising, Reuters reported on 27 October.

The BBC has reported that pensioners on low incomes will be shielded from income tax under the plans, according to its report. Income tax is partly devolved: the Scottish Parliament at Holyrood sets rates for most income in Scotland, so UK-wide Budget changes do not apply there in the same way.

Separately, Mr Healey has pledged £15m to a fund to tackle misogyny in schools, at work and in communities, the BBC reported on 27 October.

Mr Healey is a Labour politician. The BBC's Ben Wright has profiled his long career in a video published on 27 October. The BBC notes that he first campaigned for a seat in Ryedale, in North Yorkshire, in 1992. He had also done five Budgets during his time as a minister, the BBC reported.

Mr Healey delivered his Growth Speech as Chancellor on 7 September 2026, according to the Treasury's listing on gov.uk. HM Treasury is the government's economic and finance ministry, and it is supported by 18 agencies and public bodies.

An Investing.com analysis describes the Budget as the first under Prime Minister Andy Burnham.