Published: 15:02 EDT, 28 October 2026 | Updated: 15:07 EDT, 28 October 2026 John Healey today hit workers, savers, landlords and banks as he drove the tax burden towards a new record high to fund cost-of-living giveaways.The Chancellor hailed a Budget for the 'working people of Britain' as he tried to balance the books amid the Middle East crisis and Prime Minister Andy Burnham's spending ambitions.But while the Government talked up support for spiralling living costs, the help will be mostly targeted. It will be funded partly by letting borrowing go up more than previously expected, as well as through smaller raids and the long-running 'stealth' assault of frozen tax thresholds.Critics have warned that departmental spending plans for the coming years are looking increasingly implausible without top-ups, fuelling speculation about a snap election – again denied by the PM.Mr Healey is hiking rates of tax on income from property and savings by a further two percentage points from April next year.It comes on top of an increase of the same size imposed by predecessor Rachel Reeves, due to take effect at the same time.But, has the Budget been bold enough? Let us know below.
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