The Aporia
Crace, J. (2026, October 29). The ‘breathing space budget’ – breathing space for the government, that is | John Crace. The Guardian. https://www.theguardian.com/politics/2026/oct/29/the-breathing-space-budget-breathing-space-for-the-government-that-is
Crace, John. “The ‘breathing space budget’ – breathing space for the government, that is | John Crace.” The Guardian, 29 Oct. 2026, https://www.theguardian.com/politics/2026/oct/29/the-breathing-space-budget-breathing-space-for-the-government-that-is.
Crace, John. “The ‘breathing space budget’ – breathing space for the government, that is | John Crace.” The Guardian, October 29, 2026. https://www.theguardian.com/politics/2026/oct/29/the-breathing-space-budget-breathing-space-for-the-government-that-is.
Dated from the outlet's own feed. Check the original for its byline.
John Healey, Britain's Chancellor of the Exchequer, delivered his first Budget on October 28, 2026, amid economic challenges exacerbated by the Iran war and international market turmoil. Key announcements included a new £1.5 billion borrowing facility to support local authorities, a £100 payment to help households with energy bills, and VAT cuts on electricity bills. He also unveiled plans for additional defense spending of £15 billion, which will be funded by "reprioritizing" budgets across other departments. Critics argue that the budget lacks detail and fails to address long-term economic issues, while supporters see it as a necessary measure to provide immediate relief after years of austerity, Brexit, and the pandemic.
Maybe it had been one of the greatest acts of political genius after all.
All there had been was a raft of small-scale interventions designed to help people with their personal finances.
The breathing space might just as well have been for the government. Difficult decisions delayed.
Healey started with his usual infectious brand of pessimism. He was born to be the bearer of bad news.