The Zhitong Finance App learned that British Chancellor of the Exchequer John Healy said in an interview on Thursday that the government will cut welfare spending before the next general election to address one of the major public spending challenges that still exist after the announcement of its first budget.
When asked if welfare spending will be cut before the next general election, Healy said, “Welfare spending will be reduced. We're going to do this the Labor Party's own way.”
Healy unveiled its first major tax and spending plan on Wednesday, providing some short-term support to households impacted by surging energy prices and raising taxes on banks, savers, and landlords to help pay related expenses.
But the budget doesn't address some of the long-term problems facing public finance, including growing welfare bills for pensioners and working-age workers in poor health — spending this year is expected to exceed 11% of the country's economic output.
Healy said that Britain must prevent this spending from continuing to expand and focus on youth unemployment.
He said, “I feel I have a moral obligation to help these young people... they have been overlooked by previous governments.”
The UK government's review report on young people without employment, education or vocational training is expected to be released next month, and another review of the disability benefits system is being finalized.
According to reports, British Prime Minister Burnham said on October 26 that Britain will not hold a general election in the near future, and the current focus of work is on carrying out administrative duties. The last general election in the UK was held in July 2024. According to the relevant regulations of the British Parliament, the British Prime Minister can request the dissolution of Parliament and hold a general election in advance. If an early general election is not held, the current parliament will automatically be dissolved on July 9, 2029, and the next general election must be held on August 15, 2029 at the latest.