Watch: What are the main points from the Budget and how will they be funded?

On October 28, John Healey delivered his first Budget as Chancellor of the Exchequer, aiming to address economic challenges exacerbated by the Iran war and Brexit. The budget included a £1bn investment for social and affordable housing in England, taking total funding under the government's 10-year homes programme past £40bn. Additionally, Healey announced a £285m "good growth" fund to support local authorities until 2028 when some income tax revenue will be devolved directly to areas for longer-term security. The budget also featured a new £1.5bn borrowing facility and plans to meet the UK’s NATO commitment of increasing defence spending to 3.5% of GDP by 2035, with an initial £15 billion investment allocated. However, despite these measures, critics argue that without significant spending cuts, the UK could face a systemic crisis similar to France's. Prime Minister Andy Burnham acknowledged that his budget was more cautious due to economic uncertainty and constraints set by Labour’s 2024 manifesto.