The Newshound

Kemi Badenoch claims Healey's Budget has left a '£49bn black hole' that will cost every household £1,700 a year

John Healey, UK Defence Secretary, as a snap More In Common poll found 60 per cent of Britons think the Budget failed to fix Britain's economic problems.
John Healey, UK Defence Secretary, as a snap More In Common poll found 60 per cent of Britons think the Budget failed to fix Britain's economic problems.

Former Bank of England chief economist Andy Haldane warned this morning that Britain is "on the precipice" of a Liz Truss-style debt market meltdown, accusing Chancellor John Healey of "reckless complacency" and giving the Budget just four out of ten. Badenoch's £49bn black hole calculation breaks down as £17bn for a National Care Service, £17bn to avoid real-terms spending cuts, and £4bn for council housing. The OBR has separately warned the Budget's income tax and National Insurance threshold freeze will cost 215,000 jobs by 2030.

A snap poll found 60 per cent of Britons think the Budget only "tinkered with small things" and failed to fix the country's economic problems.

Healey also faces accusations of handing a '£40m bung to Labour's allies' by reviving a union training fund abolished by the Tories in 2021.

Shadow Chancellor Andrew Griffith said: 'Hard-pressed families get cheaper gherkins while Labour's trade union friends get a £40million giveaway.'

MoreGB NewsJohn Healey accused of planning to bludgeon Britons with £1,700 tax rises to fill '£49billion black hole'City A.M.Healey has left £49bn blackhole in Britain’s finances, claims BadenochThe TelegraphHealey ‘left £49bn black hole in Britain’s finances’The SunHealey has left Britain with £49BN black hole & will hike our taxes, Kemi saysThe TelegraphNothing-burger Budget will leave a bad tasteFinancial TimesDoes the Budget mark the end of Miliband-ism?The SunBritain faces losing 215,000 jobs by 2030 due to Labour tax raids as watchdog sounds alarm over Budget freezeThe SunBrits say the Budget "tinkered" and failed to deal with welfare and defenceFinancial TimesBritain’s welfare ratchetHuffPost UKBritain 'On The Precipice' Of Liz Truss-Style Economic Meltdown, Warns Former Burnham Adviser
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