Who really writes the budget?
Andy Burnham has promised Britain can “hope again”. But with inflation rising, borrowing costs soaring and trillions of pounds of national debt, how much room does Chancellor John Healey actually have to deliver in the budget on Oct. 28? This week, Pat and Sascha speak to Treasury insiders to find out who really calls the […]
Treasury officials have shed light on the intricate process behind crafting the upcoming budget, with Chancellor John Healey facing significant challenges in delivering a feasible plan amid rising inflation, soaring borrowing costs, and trillions of pounds in national debt. Former Chancellor Rachel Reeves' closest adviser, Matt Pound, discussed the difficult decisions Healey must make, including the dangers of leaks and U-turns, and the importance of maintaining the bond markets' trust.
Cameron Brown and Simon Finkelstein, two former Treasury officials who witnessed the chaos of the Liz Truss era, revealed the extent to which Westminster is fixated on the bond markets. They emphasized the critical role of the bond markets in shaping the budget and its implications for the economy.
Financial Services Editor Fiona Maxwell from POLITICO offered her insights on what Chancellor Healey might include in the budget on October 28, highlighting the delicate balance he must strike to address the nation's financial woes without triggering unfavorable reactions from the markets.
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