Updated

Chancellor Healey presented his first budget on Wednesday, October 28, 2026, cutting household energy costs, raising taxes on banks and directing billions of pounds toward defense, Ukraine and artificial intelligence, according to CNBC Top News. The budget brings forward the UK's defense spending target and pledges billions to Ukraine, with Healey reiterating the country's support for Ukraine. The reporting available for this scan gave no further figures on the size of the energy cuts, the bank tax rise or the defense commitments.