Chancellor letter to the Treasury Select Committee (TSC)
Published 31 July 2026
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Dame Meg Hillier MP
Chair of the Treasury Committee
House of Commons
Committee Office
London
SW1 0AA
31 July 2026
Dear Dame Meg,
Budget Timing
This government is working fast to restore hope and back Britain’s communities. In the past two weeks, we have begun to kickstart growth in every postcode. We have backed British jobs, British skills and British businesses. And we have provided a little breathing-space for people and businesses who feel squeezed and lacking in hope.
I am writing to inform you that today I have asked the Office for Budget Responsibility to prepare an economic and fiscal forecast for publication on 28 October 2026. This will be accompanied by the Budget.
This will be a Budget that moves power and money out of Westminster, into every postcode in Britain. Fiscal credibility is the bedrock of economic stability and national security. That is why we will abide by the fiscal rules, ensuring we retain a buffer to protect us against uncertainty and the impact of instability in the Middle East.
Yours ever,
Rt Hon John Healey MP
Chancellor of the Exchequer