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UK Markets Calm After Healey Unveils First Budget

British markets held steady as finance minister John Healey delivered his first budget, reassuring investors by committing to fiscal rules. Bond yields dipped slightly while major bank shares rose following a smaller-than-feared tax hike.

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Britain's Chancellor of the Exchequer, John Healey, leaves No 11 Downing Street carrying the traditional red ministerial box, before departing to the House of Commons to deliver the first budget under Prime Minister Andy Burnham's government, in London, Britain, October 28, 2026. REUTERS/Dylan Martinez/Pool

United Kingdom financial markets absorbed the first budget from finance minister John Healey during Wednesday morning trade, drawing reassurance from fiscal discipline pledges. The government's fiscal headroom reached £15 billion ($19.93 billion), falling below March levels of £23.6 billion. Investors avoided a repeat of past volatility by welcoming the measured fiscal approach.