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Healey seeks to reassure nervous voters and the City ahead of his first Budget

The Independent·David Maddox·14 days ago
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John Healey has moved to reassure voters and nervous financial markets ahead of his first Budget as chancellor with an eve-of-statement video promising “hope for the future”.

At the chancellor prepares to unveil his Budget in the Commons on Wednesday, he is hoping to continue with prime minister Andy Burnham ’s feelgood approach with retail offerings on the cost of living.

But the City is already concerned about a planned raid on bank profits to help Mr Healey fill a black hole in public spending and provide much-needed financial headroom in anticipation of more financial shocks in 2027.

There are threats that the current tax situation means that banks are considering moving headquarters out of London to European rivals, including Hamburg and Paris.

Chancellor John Healey will deliver his autumn Budget statement on Wednesday (PA)

But Mr Healey aimed to assure them that he is providing financial stability and security while also telling voters who are still uncertain about Labour that he will provide…

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