What time will the Budget be announced and what can we expect?

Chancellor John Healey will unveil his Autumn Budget today (Picture: Rasid Necati Aslim/Anadolu via Getty Images) It’s not long now until one of the biggest events of the political calendar: the Chancellor’s annual Budget. This year’s announcement is even more highly anticipated than normal because it promises to shed light on the economic plans behind Andy Burnham’s ambitions. The prime minister has been in office for just over three months, and has already set out a range of costly proposals for ending rough sleeping and transforming the care sector. He has also pledged a significant programme of devolution, including by handing control of economic levers to English regional mayors. Now it’s up to the man he selected as his chancellor, John Healey, to explain how those plans will be funded. Sign up for all of the latest stories Start your day informed with Metro's News Updates newsletter or get Breaking News alerts the moment it happens. A few announcements have already been made, while the papers have speculated on other potential measures. But the full picture will only emerge when Healey steps up to the despatch box later today. What time is the Budget today? The Chancellor will step up to deliver the Budget after the end of Prime Minister’s Questions this afternoon. It is expected to begin at 12.30 pm. It will be broadcast live on BBC Two, ITV, Sky News and Parliamentlive.tv. What are the biggest current talking points? One of the big questions heading into this year’s Budget was whether those who rely on the state pension would end up paying income tax. Following last year’s increase, the state pension was hovering just below the £12,570 personal allowance threshold, with the triple lock practically guaranteeing it would rise above it this year. That would mean the benefit becomes taxable for the first time ever. The chancellor may feel obligated to tweak tax rules to stop pensioners falling foul (Picture: In Pictures via Getty Images) But according to the Sunday Times, Healey is expected to ensure that does not happen by increasing the tax-free allowance for pensioners on low incomes to £13,036 – expected to be the new state pension level. The newspaper reported that this threshold will continue to rise in line with increases to the state pension over the course of the Parliament. Earlier this week, the Treasury announced five more ‘everyday fixes’ which aim to make life a bit easier without the need to make major fiscal changes. They included ending the cliff edge on the Carer’s Allowance; extending parental pay to 150,000 more people; rolling out hundreds more Post Office drop boxes; making higher tax-free business mileage rates permanent; and scrapping import tariffs on food like chocolate, baked beans and gherkins. Budget 2026 predictions The Observer reports that the chancellor will kick off a series of ‘deep reforms’ to the UK’s energy system aimed at bringing costs down and reducing household bills. That could include measures to ‘decouple’ gas from electricity prices, as the cost of the fossil fuel often sets the cost of power even if it is generated by renewables. Speaking to the outlet, Healey played down the potential for any earth-shattering moments in the Budget, saying it was not the time for ‘major moves on taxation or spending’. Andy Burnham has hinted towards help on householdenergy bills (Picture: Temilade Adelaja/Press Association) At Prime Minister’s Questions (PMQs) last week, Burnham said he had instructed Healey and Energy Secretary Miatta Fahnbulleh to ‘look at’ removing standing charges from gas bills. The result of that review may emerge at the Budget. Healey, who resigned as Keir Starmer’s defence secretary in a row over defence funding, is also set to announce billions in extra spending for the sector according to the Sunday Times. One place where we may not see a major commitment is on young people not in education, employment or training. That might come as a surprise after all the focus on the plight of NEETs, but the government is waiting for the recommendations of Alan Milburn’s review into the issue, which is due shortly after the Budget. Get in touch with our news team by emailing us at webnews@metro.co.uk. For more stories like this, check our news page. Arrow MORE: When is the Budget being announced and what can we expect? Arrow MORE: Rejoining EU is ‘inevitable’ says London mayor after Andy Burnham opens door Arrow MORE: Burnham says he won’t rule out return to freedom of movement in EU talks News Updates Stay on top of the headlines with daily email updates.