Burnham's Tax and Borrowing Pledges Box In New Chancellor Healey

Prime Minister Andy Burnham appointed John Healey as chancellor on 20 July 2026, then pledged no rises to income tax, VAT, or national insurance and adherence to inherited borrowing rules. Healey, who moved from defence secretary and served five years under Gordon Brown at the Treasury, now faces autumn spending decisions with little fiscal room to fund Burnham's promised "hope" agenda.