The Aporia
The Aporia
Cecil, N. (2026, October 26). Budget 2026: Chancellor John Healey's big London challenge to get Britain firing on all cylinders. Evening Standard. https://www.standard.co.uk/news/politics/budget-chancellor-john-healey-tax-london-banks-economy-growth-b1301922.html
Cecil, Nicholas. “Budget 2026: Chancellor John Healey's big London challenge to get Britain firing on all cylinders.” Evening Standard, 26 Oct. 2026, https://www.standard.co.uk/news/politics/budget-chancellor-john-healey-tax-london-banks-economy-growth-b1301922.html.
Cecil, Nicholas. “Budget 2026: Chancellor John Healey's big London challenge to get Britain firing on all cylinders.” Evening Standard, October 26, 2026. https://www.standard.co.uk/news/politics/budget-chancellor-john-healey-tax-london-banks-economy-growth-b1301922.html.
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On October 28, John Healey will deliver his first Budget as Chancellor of the Exchequer. The budget is set against a backdrop of economic challenges exacerbated by the Iran war and domestic market turmoil. Healey is expected to introduce a "steady as she goes" approach without major tax or spending changes, while also announcing significant devolution plans aimed at boosting regional growth. This includes a new £1.5 billion borrowing facility for mayors, an initial £285 million in "good growth" funding, and more than £1 billion for social and affordable housing, taking the 10-year homes programme funding to over £40 billion. Healey's budget will also support councils in building expertise to manage larger budgets. These measures aim to devolve power from Westminster to local leaders across England.
Rather than acting decisively to cut Britain’s debt mountain, now at a stratospheric £3 trillion, they have spent now, loaded up the nation’s credit card and pencilled in rises in spending on public services which experts say are so small as to be totally unrealistic, and certainly unlikely to be stomached by Labour backbenchers.
