Budget 2026: key points at a glance

John Healey is announcing his financial update – here are the main points, with political analysisBudget 2026 live – latest updatesJohn Healey starts by saying that his budget is “delivered at a time when global uncertainties and pressures are swirling worldwide and hitting people here at home”.Healey says he will meet the fiscal rule that day-to-day spending must be covered by tax receipts, and the investment rule that government debt, defined as public sector net financial liabilities, must be falling as a percentage of GDP in the third year of the forecast.The government will have £15bn of headroom in 2029-30