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.
In short
- John Healey is expected to speak at about 12.30pm on Wednesday.
- The Budget comes amid pressure on public finances.
- Reported measures include energy support and tax changes.
Explained simply
A Budget is a statement in which the Chancellor explains the government’s plans for taxes and public spending. It can affect how much people and businesses pay, and how public services and other commitments are funded.
John Healey is the Chancellor, the minister responsible for the country’s finances. The government must balance its plans with the money it raises and borrows, while borrowing costs and economic growth affect how much room it has to spend.
The choices matter to households, businesses and public services. Measures such as help with energy bills or changes to taxes can affect people and organisations differently.
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