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'John is f**ked': Budget troubles mount for Healey as savers pull cash from pension funds in fresh stampede

From the Newshound archive · first published 9 October 2026 · last updated 10 October 2026.

'John is f**ked': Budget troubles mount for Healey as savers pull cash from pension funds in fresh stampede

John Healey is facing a government-defining Budget crunch, with a Downing Street source warning the Burnham government faces a "tough winter ahead" and that the PM's honeymoon is already over. Borrowing costs have hit their highest level since 1998, US-Iran war energy prices are squeezing the Chancellor's room to manoeuvre, and a Labour insider's brutal verdict — "John is f**ked, there is nothing there" — has leaked with two and a half weeks to go.

Reform's Robert Jenrick is warning of a '£30bn tax bombshell', predicting capital gains tax rises that will send business owners fleeing before October 28.

MoreDaily MailStampede from pensions as savers worry about John Healey's BudgetThis Is MoneyStampede from pensions as savers fear John Healey's budget will be even worse than Rachel Reeves'siNews‘John is f**ked. There is nothing there’: Budget troubles mount for HealeyAOL News UKJohn Healey 'plotting £30bn tax sucker punch' in October Budget
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