Chancellor John Healey will deliver his first Budget today, setting out the Government’s plans for taxes, spending, and the economy, reports BritPanorama.
The announcement comes as households face rising living costs, with the Chancellor under pressure to explain what help will be available.
What time is the 2026 Budget today?
The Budget will take place on Wednesday, October 28, 2026, in the House of Commons.
Chancellor John Healey is expected to begin speaking at approximately 12:30pm, immediately after Prime Minister’s Questions (PMQs).
PMQs starts at noon, so the exact start time may vary depending on when it finishes.
The House of Commons begins its sitting at 11:30am, with questions to the Scotland Secretary before the Prime Minister faces MPs.
There is no fixed finishing time for the Budget speech. It is expected to last around an hour, though it could run longer.
Afterwards, opposition leaders will respond before MPs begin debating the Chancellor’s proposals.
What will John Healey announce in the Budget?
The Chancellor is expected to outline changes affecting households, businesses, and public services.
He is set to extend the 5p-per-litre fuel duty cut to prevent increases currently scheduled for early 2027.
However, this remains unconfirmed until the Budget is delivered.
Mr. Healey has also announced further cost-of-living measures he calls “everyday fixes” to ease financial pressure on families.
These include higher tax-free mileage allowances for people using their own cars for work, as well as extending paternity pay to a further 150,000 parents, including self-employed dads.
He said: “Today’s everyday fixes are just a small part of what we are doing to give families a bit of breathing space.
“Conflict in the Middle East and Europe is hitting families here through higher costs. We can’t control global events, but we can act where we can make a difference.”
What happens after the Budget speech?
The Office for Budget Responsibility will publish its independent economic and fiscal forecasts once the Chancellor has addressed Parliament.
These assess prospects for growth, inflation, borrowing, and the public finances, providing economic context for the Chancellor’s Budget decisions.
The Treasury will publish detailed documents outlining the proposed tax measures and their costs.
MPs will then debate the plans, with some tax changes potentially taking effect sooner than others.
Many tax measures require a Finance Bill to become permanent law.
As the economic landscape continues to shift, the Government’s approach in this Budget will be a critical indicator of its strategy to address immediate financial pressures while setting a foundation for future stability.
