Key facts
- John Healey has been appointed as the new UK Chancellor.
- The City of London financial sector values predictability in economic policy.
- Healey pledged disciplined control of public finances and adherence to fiscal rules.
- Former Chancellor Rachel Reeves is viewed with distrust by the business community.
- Gordon Brown is remembered positively for policy predictability during his chancellorship.
Newly appointed Chancellor John Healey has committed to disciplined control of Britain’s public finances to protect against economic shocks, as he made a pro-business pitch to the City of London. Healey told a gathering of executives that he and the prime minister will work in lockstep to ensure fiscal rules are met with a buffer against uncertainty, emphasizing that fiscal credibility is the bedrock of stability.