UK to Present Budget on October 28, Chancellor Confirms
The UK's next budget will be delivered on October 28, with the chancellor emphasising fiscal discipline and plans to devolve money and power to local areas.
Chancellor Healey has confirmed that the United Kingdom will present its next budget on October 28. The date was announced in a letter and marks a key fiscal event for the government.
In the letter, the chancellor argued that fiscal credibility is essential for economic stability and national security. He said the government would follow its fiscal rules and keep a safety buffer to cushion against uncertainty and the fallout from Middle East instability. Healey also pledged that the budget would move money and decision-making away from Westminster and distribute it across every British postcode.
Elsewhere, Burnham announced that local English mayors are to be given the power to retain and spend business rate revenues in order to stimulate growth in their regions. The prime minister added that mayors would soon gain control over income tax. Healey, for his part, will publish a whitepaper and a roadmap on the matter at the autumn budget.
The upcoming budget is expected to set out the government's economic strategy amid global pressures and growing calls for regional devolution. More details are due when the budget is delivered later this month.
