Budget Live: Chancellor John Healey promises support for 'working people'

Chancellor John Healey used his first Budget speech to promise support for “working people of Britain” as he urged the country to “steer us through the economic storms.” The package included a pledge to spend 3.5% of GDP on defence by 2035, with work underway to reach 3% by 2030 and details due at next year’s spending review. Britain will add £10 billion in economic and military support to Ukraine and provide £500 million in urgent winter military funding. Healey also said the tax-free cash ISA limit will stay at £20,000 and that small business rates relief for retail, hospitality and leisure will rise from £12,000 to £18,000.