Budget 2026 what to expect from John Healey as Chancellor prepares major announcement

Chancellor John Healey delivers his first Budget on October 28, with households and businesses watching for additional cost-of-living support. The announcement comes amid tight public finances and higher borrowing costs tied to international market turmoil after the Iran war. Ministers have already floated measures aimed at easing everyday expenses, including changes to Carers’ Allowance, mileage payments and food tariffs, with further steps expected on energy bills, fuel duty, wages and public spending. The Budget will also have to keep within fiscal rules while balancing help for families. Reporting highlights likely decisions on pensions and tax allowances, alongside possible household energy reforms.