UK Budget felt cautious despite small measures, says political editor

Key facts

• The UK Budget features 98 measures, many with small financial impacts.
• The OBR described the UK's economic and fiscal position as very challenging and uncertain.
• The budget includes tax increases for savers, landlords, and banks.
• Support is being offered to households on Council Tax bands A to D.
• Opposition parties have criticized the budget as lacking substance.

UK Chancellor John Healey presented a budget on Wednesday that was characterized by a large number of small measures rather than significant policy shifts. The Red Book detailing the budget contains 98 measures, more than in previous budgets, but most are described as having a limited impact on the Treasury's finances. The Office for Budget Responsibility (OBR) noted that the UK's economic and fiscal position remains very challenging and uncertain, with further adverse developments this year. The budget aims to provide targeted support, including tax adjustments for savers, landlords, and banks, while also offering relief to households on Council Tax bands A to D.