Healey's debut Budget takes shape amid billions in defence, devolution deals and adviser resignations as economic warnings mount
The cash will be routed through the National Wealth Fund and British Business Bank, which will then invest in British defence firms. Long-term borrowing will fund it, with ministers claiming it will not break Labour's fiscal rules because it should generate returns. Britain spends around 2.6 per cent of GDP on core defence. Shadow Chancellor Andrew Griffith wants Healey gone if Wednesday's Budget leaves the target unfunded.
Budget plans include a big devolution package for England's mayors and more powers and cash for social housing.
State-backed lenders are set for a £20bn boost when the Chancellor delivers his Budget.
Ex-Bank of England economist Andy Haldane warned of a 'Liz Truss-style' market meltdown.
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GB NewsJohn Healey 'unveiling billions in defence spending at Budget' — but funding questions raisedThe TelegraphHealey draws up ‘green tax’ on petrolThe GuardianHealey’s first budget to include big devolution package to boost growthThe TelegraphHealey’s state gamble risks repeating 1970s disastersThe TelegraphHealey to give state-backed lenders £20bn boost in BudgetLBC'Northern Olympics' proposal to get £7m in Healey's budgetEvening StandardBudget to increase cash for social housing and give England’s mayors more powersGB NewsJohn Healey hit with devastating resignation days before Budget as advisor warns of 'Liz Truss-style crisis'Daily MailDAN HODGES: Healey's allies tell me this is his Budget strategyDaily MailJohn Healey plans to send 2,000 anti-fraud experts into Jobcentres in bid to claw back £1.4billion from benefits cheats - amid warnings welfare bill could soar by £5.5billionThe TelegraphMr Healey, my alternative Budget would cut the deficit without raising taxesLBCTreasury adviser quits over claims entrepreneurship seen as a 'sideshow' by government
