Watch: What are the main points from the Budget and how will they be funded?

On October 28, John Healey delivered his first budget as Chancellor under Prime Minister Andy Burnham, addressing the UK's difficult economic situation exacerbated by the Iran war. The budget includes plans for devolving more spending power to local authorities in England through a new £1.5bn borrowing facility and an additional £285m "good growth" funding. Healey also announced a 10-year social and affordable homes programme with over £40 billion in funding, aiming to address housing needs across Britain.

The budget unveiled measures such as a £100 winter payment directly into bank accounts for households in council tax bands A-D, estimated to cost the government £2.6 billion, intended to help cope with surging energy bills. However, this relief is unevenly distributed across London's high-poverty areas, leading some to criticize it as a "postcode lottery."

Healey also faced scrutiny over defence spending commitments and refused to guarantee meeting NATO’s goal of reaching 3.5% of GDP in defence spending by 2035, citing uncertainties tied to international conflicts like the war with Iran.