Budget 2026 speech
What was announced
Budget 2026 speech as delivered by Chancellor John Healey.
Key points, in the publisher's words
- Delivered at a time when global uncertainties and pressures are swirling worldwide and hitting people here at home.
- …which matches immediate action today, with clear direction for the future.
- First, by giving Britain some breathing space on the cost of living and the cost of business,
Figures in this announcement
Each line is quoted from the original. Figures are as the publisher stated them on the day.
- “Inflation, which was due to fall earlier this year to the 2% target, has now risen, driven by higher oil and gas prices, Oil is up from around $70 a barrel to well over $100; and gas prices have nearly tripled since February.”
- “Driven by the conflict in the Middle East, government borrowing costs across the G7 are reaching highs not seen for decades and in today’s forecast, the OBR predict that we will spend £14bn more on debt interest this year.”
- “Madame Deputy Speaker, the OBR confirms today that headroom against the stability rule is £15bn in 2029/30, before rising to £22bn in 2030/31.”
- “Madame Deputy Speaker, as a [REDACTED POLITICAL CONTENT] government, last year, we cut borrowing to its lowest level in six years - from 5.1 to 4.4% of GDP.”
- “In today’s forecast, borrowing falls to 4.2% this year, 3.4 next year, 2.9 in 28/29, 2.1 in 29/30, and 1.8 in 30/31 and 31/32.”
- “Our debt as a percentage of GDP is 83.2% this year, 83.8 next year and in 2028/29, Before falling to 83.1 in 29/30, 82.3 in 30/31 and 81.7 in 31/32.”
Check it against the official record
The latest official figures on the subjects this story covers, each with its source and full history:
Who and where
People
- John Healey (MP for Rawmarsh and Conisbrough (Labour)) · more news
UK bodies of power
- HM Treasury (UK government department) · more news
- Office for Budget Responsibility (UK national body) · more news
Global and regional bodies
Constituencies of the MPs named: Rawmarsh And Conisbrough.
Where this sits in the 10 levels of power
- Level 10: G7, G20, Davos and global forums · news at this level
- Level 6: National government · news at this level
Topics, as GOV.UK files them: Government.
Receipt
- Original: https://www.gov.uk/government/speeches/budget-2026-speech
- Published 2026-10-28 15:45:59 UTC
- Read by this site 2026-10-28 16:00:12 UTC from GOV.UK
- Saved copy: receipt 3763, with its SHA-256 fingerprint
Contains public sector information licensed under the Open Government Licence v3.0.
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- Budget 2026 Fact Sheet: Delivering for Every Region
- Further support for Ukraine
- Breathing space for Scottish families and businesses at Budget
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- Breathing space for Welsh families and businesses at Budget 2026
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- Budget 2026: Breathing space for Welsh families and businesses
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