The ‘breathing space budget’ – breathing space for the government, that is | John Crace
In his first budget as chancellor, John Healey has pledged to offer ‘breathing space’ to help Britons navigate ‘global economic storms’.
Key points
- The day after the budget is usually the moment when things start to fall apart.
- But the Conservatives have criticised the government for postponing big decisions, including on defence and welfare.
- When clued-up journalists and economists have had a chance to go through all the fine points the chancellor would rather everyone had missed.
John Healey aced the morning-after media round because his Martin Lewis measures left nothing to challenge him on Maybe it had been one of the greatest acts of political genius after all.
But on Thursday morning Andy Burnham and John Healey could afford themselves a sigh of relief.
Additional details
- It turns out that when you don’t make any massive tax or spending commitments, there isn’t a great deal to unravel.
- There were a record number of measures, including a one-off £100 energy payment to millions and a rise in the levy on bank profits.
- The forecasts that suggest everything is predicated on a wing and a prayer.
- All there had been was a raft of small-scale interventions designed to….
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The Guardian BusinessOctober 29, 2026, 4:11 PM UTC →
The Guardian BusinessOctober 28, 2026, 6:26 PM UTC →
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