Chancellor pledges budget to lower business costs and boost entrepreneurs

Chancellor John Healey told one outlet that his debut budget will prioritize easing the cost of doing business and backing entrepreneurs who persevere under economic strain. He highlighted that companies are feeling the impact of the cost-of-living crisis, tax hikes—including higher employer National Insurance rates set by former Chancellor Rachel Reeves—and tighter employment regulations. Healey said the budget will address these pressures for both businesses and households.

He also signaled a likely increase in bank taxes as borrowing costs rise. Energy Secretary Miatta Fahnbulleh added that gas is expected to flow into the domestic supply chain within weeks, easing energy pressures. The budget aims to stimulate investment and job creation across the UK economy.