Tax rises ‘guaranteed’ as Healey faces £22bn black hole from Burnham spending plans July 22, 2026 Chancellor John Healey will be forced to launch another round of major tax rises in the autumn, leading economists have warned, after a City AM analysis found £22bn of spending pledges are not accounted for in official forecasts. Less than 24 hours after becoming Prime Minister, Andy Burnham has already announced plans to end rough [...]
Healey challenges Cabinet to find cuts July 21, 2026 Chancellor John Healey has challenged Cabinet ministers to find savings in budgets hours after Andy Burnham was criticised for making an “unfunded” tax cut. In the first meeting between Cabinet ministers under Burnham’s government, Healey urged ministers to “look harder” at spending priorities across departments. Burnham also urged ministers to consider “how we are going [...]
Babcock and Rolls-Royce stocks rally after Healey appointment July 21, 2026 Defence stocks including Rolls-Royce have stormed to new highs as investors added to bets that the new Chancellor John Healey would plough further cash into London-listed arms companies. Defence supply giants Babcock and BAE Systems were among the biggest risers when markets opened on Tuesday, some 12 hours after former defence secretary Healey was appointed [...]
Warning for John Healey as key fiscal target missed July 21, 2026 A key fiscal target has been missed on John Healey’s first morning as Chancellor, in a reminder of the poor state of public finances. Official data on Tuesday showed that the current budget deficit, which is critical to the current fiscal rules, surpassed forecasts set by the Office for Budget Responsibility (OBR). The Office for [...]
Burnham premiership begins with decline in job postings July 21, 2026 Andy Burnham’s premiership has kicked off with disconcerting news for job seekers, setting up new government ministers for a difficult few months in supporting the UK labour market. The Office for National Statistics revealed that the number of vacancies fell by 7,000 between April and June, with the biggest falls coming in areas such as [...]
Thames Water is Burnham’s first big test: will he do what’s right or what’s popular? June 23, 2026 Thames Water will run out of money in a matter of months, but the government rejected a plan to save it. Now, Burnham’s talk of renationalisation is already scaring off investors and reducing the tax revenues available to fun public services, says Natascha Engel Now that Keir Starmer has announced his departure, the question is [...]
John Healey’s principles will cost UK defence companies June 17, 2026 Defence secretary John Healey supposedly quit for British industry, but he has inadvertently handed the main win to its competitors.
Small businesses can help solve defence procurement June 17, 2026 A neutral vendor model for defence procurement will solve issues of scale, reduce bureaucracy and reduce the risks of engagement for all sides, says Rob Levene John Healey and Al Carns may have quit, but the final answer to the question that triggered their exits as defence secretary and armed forces minister has been left [...]
War bonds to lift defence spending ruled out June 17, 2026 Sir Keir Starmer has ruled out issuing defence bonds to fund an uplift in spending as a spokesperson said it was “just another form of borrowing”. In his absence at Prime Minister’s Questions, Starmer’s deputy David Lammy appeared to open the door to defence bonds being created to fund a rise in spending. The Liberal [...]
John Healey has delivered a fatal blow to Starmer’s premiership June 15, 2026 The defence minister’s resignation reveals the complete collapse of Keir Starmer’s authority, says Eliot Wilson The resignation of the Defence Secretary, John Healey, last week, with his Armed Forces Minister Al Carns a few hours behind him, was a very serious blow for Sir Keir Starmer. Let us be clear about the significance of this: [...]