Chancellor John Healey has sparked political fury by refusing to commit to a firm timetable for reducing the soaring welfare bill, prompting a hurried clarification from Downing Street.

Downing Street has insisted that welfare spending will not be cut before the next general election following a reversal by Chancellor John Healey.

Chancellor John Healey has delivered his first Budget, introducing major overhauls to household energy bills, taxation, and a new first-time buyer property scheme.

Chancellor John Healey delivers his first Budget, introducing targeted cost-of-living relief, energy bill cuts, and a 16th consecutive fuel duty freeze.

Prime Minister Andy Burnham faces mounting pressure from the SNP to strip value-added tax from petrol and diesel ahead of the fiscal statement.

Chancellor John Healey delivered his inaugural fiscal statement promising breathing space for families, even as new polling reveals deep public pessimism.

The government is committing an additional £432 million to tackle rough sleeping in England, extending funding through to the end of the parliament in 2029.

The UK public finances recorded an unexpected £1.8bn shortfall in July, pushing total public debt to £2.98tn as Chancellor John Healey prepares his budget.

Senior banking executives anticipate targeted tax measures in the upcoming Budget as the government faces pressure regarding public finances.

Chancellor Rachel Reeves unveiled a sweeping fiscal plan featuring billions in tax rises, following proposals from Centax for a £26bn tax raid on high earners.

Capital gains tax is reportedly the leading candidate for a rate hike in the upcoming October Budget as insiders weigh options to rebuild fiscal headroom.

Leading financial watchdogs have warned that the government's new tax and spending plans will achieve nothing to stimulate sluggish national growth.