Story perspectives

Chancellor’s Budget Cuts Headroom, Backs First-Time Buyers

By Drooid · Sep 28, 2026, 10:44 PM UTC · How we work

Summary

Story summary

Chancellor Jeremy Healey and Prime Minister Andy Burnham announce a budget to support households while respecting fiscal rules.
OBR rule-one headroom dropped from £23.6 bn in March to £12 bn per KPMG.
The ‘Your First Home’ scheme requires a 2.5% deposit and offers a loan of 20% of the property value.
Mansion Tax will target homes over £2 million from April 2028, with a possible extension to £1.5 million.

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Story summary

Chancellor Jeremy Healey and Prime Minister Andy Burnham announce a budget to support households while respecting fiscal rules.
OBR rule-one headroom dropped from £23.6 bn in March to £12 bn per KPMG.
The ‘Your First Home’ scheme requires a 2.5% deposit and offers a loan of 20% of the property value.
Mansion Tax will target homes over £2 million from April 2028, with a possible extension to £1.5 million.