# Healey urged to strengthen public finances and shrink the state

- URL: https://talkfuse.com/story/its-time-to-build-the-uks-financial-defences-and-slash-the-size-of-the-state-says-alex-brummer/
- Published: 2026-10-28T06:42:19+00:00
- Updated: 2026-10-28T07:02:15+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/money/markets/article-16243515/Time-build-fiscal-defences-Healey-opportunity-slash-size-state-says-ALEX-BRUMMER.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Business, Economy, Space, Technology, UK, World

## Key points

- The article urges Healey to strengthen the UK’s financial defences.
- It proposes freezing public sector pay and government benefits.
- It warns that global shocks could threaten markets and public finances.

## Summary

The article argues that Chancellor John Healey should use the Budget to strengthen Britain’s finances and reduce the size of the state, rather than rely on better growth forecasts and previously announced tax rises. It warns that global economic and political shocks could expose weaknesses in the public finances and trigger turmoil in currency and bond markets.

The writer cites Britain’s 1.3 per cent growth alongside stagnation in Germany, France and Italy, and recalls how shocks in 1967 preceded a 14 per cent devaluation of the pound and the resignation of Chancellor James Callaghan. The proposed response is to freeze public sector pay and benefits, while the article also discusses HSBC’s £7.2 billion quarterly pre-tax profit and its 5.4 per cent share-price fall.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.