- Chancellor John Healey announced he will be closely monitoring for price gouging at petrol pumps and in supermarkets, as the war in Iran continues to affect prices.
- Healey conceded that the government ”can’t completely stop the squeeze” on families and businesses but signalled readiness to intervene against unfair price rises.
- Prime Minister Andy Burnham, in his new premiership, is focusing on tackling cost-of-living pressures, having taken office two weeks prior.
- Burnham has introduced measures including a VAT cut on energy bills and capping bus fares at £2 until 2027, and aims to further reduce utility and rail fares.
- Healey's first budget, scheduled for 28 October, will be built on fiscal discipline, with departments instructed to reallocate funds from existing programmes for new pledges.
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