Budget 2026: What do John Healey’s choices mean for the economy and the government?

John Healey’s first budget as chancellor on 28 October was a huge moment for Andy Burnham’s government.

A difficult fiscal inheritance, made more challenging still by the war in Iran, means Healey and Burnham faced a series of tough choices.

So what will the chancellor’s spending decisions reveal about the government’s priorities? Will he send a clear signal about the future tax changes that are – or are not – on the table? Can Healey and Burnham show that they are capable of taking the difficult decisions facing government? And will they avoid mistakes made by Keir Starmer and former chancellor Rachel Reeves?

Just a few hours after Healey set out his plans, the IfG shared their instant expert analysis in this must-watch budget day webinar.

We were joined by an expert panel including:

• Dan Haile, Senior Economist at the Institute for Government

• Stuart Hoddinott, Associate Director at the Institute for Government

• Jill Rutter, Senior Fellow at the Institute for Government

This webinar was chaired by Dr Gemma Tetlow, Executive Director for Research and Innovation at the Institute for Government.

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