When is the Autumn Budget and what could be in John Healey's first speech?
Andy Burnham's first Chancellor as PM, John Healey, gives date for Budget in Autumn 2026
Retail giant Next has warned against tax increases in next month’s Budget, citing inflation from the war in Iran and a weak jobs market.
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The comments come after the Prime Minister warned that a difficult Budget was in store for Brits following inflation rising to 3.1%.
Speaking after the results were published on Wednesday, Andy Burnham vowed to ensure the economy “remains on track”, but warned he is prepared to take “difficult decisions” to do so.
Next chief executive Lord Simon Wolfson said: “These worries will only be compounded if tax increases accompany them.”
“This will be a Budget that moves money and power out of Westminster and into every postcode around Britain," Mr Healey previously said.
“It will be built on fiscal discipline. It will meet our fiscal rules. It’ll give businesses and families some of the stability they need to plan for the future. Now, let’s get on with the job.”
Mr Burnham previously said: “I said we’d take power out of Westminster and carry it into every postcode in the country.
“Today, we make good on that promise. Under our plans, more of the taxes raised in a community will stay in that community."
What could be in the Budget?
The government has been linked to scrapping the Triple Lock in the financial review, but Emma Reynolds, the chief secretary to the Treasury, has told LBC that this will not happen.
Instead, Mr Healey has pledged to find means to "balance the books", telling the Manufacturing Technology Centre (MTC) that there would be "fiscal discipline".
The Chancellor previously said the Budget will “move money and power out of Westminster” and into “every postcode around Britain”.
He added: “At the Budget, I will set out a roadmap to fiscal devolution, a permanent transfer of power and resources from Whitehall to our regions.
"[There will be a] greater business rates retention for local councils and strategic authorities, grants from central government replaced by a share of local income tax for every mayoral strategic authority beginning in 2028."