- John Healey is set to deliver his first Budget on Wednesday afternoon, with the chancellor expected to outline the proposals at approximately 12.30pm.
- The Budget is one of the biggest events in the UK's political and economic calendar, when the chancellor sets out the government's plans for taxation, public spending and the wider economy.
- It comes as Mr Healey is under pressure to raise taxes or find billions of savings to help ramp up the UK’s military spending, whilst also making sure the pledges set out by the PM during his first weeks in office are fully funded.
- Mr Healey has been clear that his Budget will look at cutting “the cost of business”, as he promised to be a chancellor who backs entrepreneurs.
- Measures expected to be unveiled at the budget include a “mansion tax” on homes valued at over £2m and an increase to bank taxes in the UK.
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