Politics · 21 July 2026
New Chancellor John Healey has immediate fiscal challenges
Richard Townshend via Wikimedia Commons (CC-BY-3.0)
John Healey has been appointed as the new Chancellor, a surprise move by Prime Minister Andy Burnham. Government borrowing overshot forecasts and public debt is near £3 trillion, creating a difficult economic situation. He must balance demands for increased defence spending and cost-of-living support with maintaining fiscal rules.
Reported by City AM · How we write briefs