What to expect from John Healey’s first budget: who wins, who pays?

Struggling households, new homebuyers and small shops stand to gain, while banks and online marketplaces could face higher levies

John Healey will present his first budget on Wednesday, which will set the tone for Andy Burnham’s premiership.

Despite the chancellor’s promises in the summer that the tax and spending event would not be beset by the leaks that preceded those of his predecessor, Rachel Reeves, both official and unofficial sources have indicated much of what Healey is likely to announce. Here’s what to expect:

How much money is there?

Healey will allocate about £1.42tn this year on day-to-day spending and public investment. About £100bn of this will go on debt interest after a rise in the interest rate the government pays to multidecade highs.