John Healey has set 28 October for the government’s autumn budget, saying it will shift “money and power” from Westminster to communities across the UK. The budget will be a key test of Prime Minister Andy Burnham’s early policy agenda, as the government must explain how it will fund new cost-of-living measures, devolution plans and other commitments while maintaining fiscal discipline.

Burnham has announced proposals including lower VAT on energy bills, reduced business rates for hospitality and music venues, capped bus fares, and a share of income tax for English regional mayors. However, rising borrowing costs, high national debt and Labour’s pledges not to raise income tax, national insurance or VAT leave limited room for manoeuvre; ministers may face pressure to consider other tax rises or reforms.