Chancellor Rachel Reeves has confirmed the Budget will take place on Wednesday 26 November, with NHS and healthcare set to be a key priority.
Amid speculation that the chancellor will need to raise taxes to fill a £50bn black hole in the nation’s finances, last month Lord Kinnock called for the ending of the exemption of VAT on private healthcare.
But Kinnock’s call did not go down well with advisers who labelled it “madness”.
In a video message Reeves (pictured) acknowledged that cost of living pressures among the UK population were still real.
The chancellor committed to bringing inflation and borrowing costs down by keeping a tight grip on day to day spending through the government’s non-negotiable fiscal rules.
She added investment and reform were key to growing the economy and meeting the priorities of more pounds in the population’s pockets, an NHS there when people need it and “opportunity for all”.