Chancellor John Healey delivered the 2026 Budget on Wednesday 28 October, announcing a range of fiscal changes. The budget included tax hikes affecting workers and betting firms. Healey also introduced a new ‘starter Isa’ and kept the annual cash Isa limit at £20,000.
The government confirmed four groups will receive a one-off £100 payment this winter. This measure was part of the budget’s efforts to support vulnerable populations. Healey emphasized the government’s focus on growth and stability, citing progress in the first 100 days of the Labour administration.
This Budget marks Healey’s first as Chancellor. It follows a period of economic uncertainty and political shifts. The government ruled out a snap general election in the next 12 months, focusing instead on economic recovery. The budget’s mixed approach reflects balancing fiscal responsibility with social support.
