Chancellor John Healey to end standing charges on household gas bills, as City expects a quiet budget – business live

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It’s budget day! And City investors are expecting that chancellor John Healey avoids any bold spending pledges or tax hikes in his first fiscal statement.

Investors anticipate a cautious budget from the chancellor, reasoning that he will prioritise stability in the bond market at a time when borrowing costs are close to their highest levels in around two decades.

With memories of Liz Truss’s budget disaster yet to fade in the City, traders will be alert to any signs that Healey is wavering on the government’s fiscal rules - but the mood music from the Treasury is that fiscal stability is still in vogue.