What time does the Budget 2026 announcement start?

Chancellor John Healey is expected to deliver his first Budget at about 12.30pm on Wednesday, after Prime Minister’s Questions in the House of Commons. The speech will set out the government’s plans for taxes and public spending, as it faces pressure to fund its commitments and increase military spending while public finances are under strain.

The article says borrowing costs have risen amid the Iran war and weaker growth, and government borrowing reached £24.5 billion last month. Reported proposals include more than £1 billion in energy bill support, a possible expansion of the Warm Home Discount, tax collection responsibilities for online marketplaces, a tax on homes worth over £2 million and a higher surcharge on bank profits. Healey has also said he wants to reduce business costs.