What time does the Budget 2026 announcement start?
Chancellor John Healey is expected to deliver the 2026 Budget at about 12.30pm on Wednesday in the House of Commons, after Prime Minister’s Questions. The statement will set out the government’s plans for tax and spending as it faces pressure to fund public pledges and higher military spending while managing weaker growth and rising borrowing costs.
The article says government borrowing reached £24.5 billion last month, higher than expected, squeezing the public finances. Possible measures include more than £1 billion in energy bill support for struggling households, making online marketplaces responsible for collecting tax from sellers, a levy on homes worth over £2 million and a higher surcharge on bank profits, potentially rising from 3 per cent to 8 per cent. Healey has also said he wants to reduce business costs.
In short
- The Budget is expected at about 12.30pm on Wednesday.
- Borrowing rose to £24.5 billion last month.
- Energy support, online seller taxes and bank taxes may feature.
Explained simply
The Budget is the government’s main statement on how it plans to raise and spend public money. The Chancellor presents it to MPs in the House of Commons, setting out decisions that can affect households, businesses and public services.
The Chancellor is the minister responsible for the nation’s finances, while the government must balance its spending plans against the money it raises through taxes and borrowing. Borrowing adds to the amount the government owes, and the cost of borrowing can rise or fall with interest rates and lenders’ expectations.
Budget choices can affect bills, taxes and the cost of running a business, as well as how much is available for services and defence. Measures may also affect groups differently, depending on who pays a tax or receives support.
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