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Healey urged to offer energy support in budget as bills rise 4% - AOL (opens the original)
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John Healey is under growing pressure to offer fresh energy support for households in next month’s budget as millions face a 4% rise in charges from Thursday to an average of £1,723 a year for a typical home. In his speech at Labour’s conference in Liverpool this week, the chancellor warned that the government had limited resources to cushion the worldwide economic shocks hitting Britain, while arguing his budget would have fiscal discipline at its core. The quarterly energy price cap, set by th
Will pensioners be poorer as a result of Burnham scrapping the triple lock? - AOL (opens the original)
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The prime minister has announced that the pensions triple lock will be scrapped in its current form, to partly fund a national care service. On the existing triple lock, the state pension increases each April by inflation, 2.5% or average earnings, whichever is higher. From 2030, under what Labour is calling an “adjusted triple lock”, the pension will still rise either in line with prices, or 2.5% each year, whichever is higher – but it won’t rise in line with earnings unless its value has falle
Healey offers upbeat vision but sheds little light on how it will be paid for (opens the original)
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With the budget a month away, chancellor gives little indication in conference speech of where money will come from to reindustrialise Britain Healey vows to stick to fiscal rules in budget John Healey cheered the Labour faithful with his first conference speech as chancellor, offering an upbeat vision of a reindustrialised Britain with fresh opportunities for young people – but gave little sense of how he intends to pay for Andy Burnham’s radical plans. Healey’s budget next month is widely seen
Burnhamâs plan for a radical reset collides with economic reality | Heather Stewart (opens the original)
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Surging energy bills, higher borrowing costs and rising inflation have left the PM and his chancellor in a fiscal bind As Labour heads to Liverpool this week, Andy Burnham has promised to deliver âstabilityâ in the public finances; but the economic backdrop is anything but stable. The longer the US-Israeli war on Iran persists, the more likely it is that UK consumers will have to swallow higher mortgage rates and energy bills â just as the government is wrestling with its own surging borro
Healey appoints Labour manifesto writer, adding to election speculation (opens the original)
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Exclusive: Economist Ravinder Athwal who worked in Keir Starmer’s team is poached from Flint Global Ravinder Athwal, the economist who wrote Labour’s 2024 manifesto, is taking on a senior role as an adviser to John Healey, in a move likely to fuel speculation about an early general election. The chancellor is keen to strengthen his team before the critical budget on 28 October, as the economy is buffeted by high oil prices and rising government borrowing costs. Healey has poached Athwal to be hi
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