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How confident does the Chancellor's speech make you about financial services?

Journalist: Tom Dunstan, FTAdviser

ended 07. September 2026

Today, the Chancellor, John Healey, gave his first major speech today.

In it, he highlighted financial services as one of the areas the UK leads the way.

“Our capital markets are some of the largest and most vibrant anywhere in the world, and the UK stock market is hitting all-time highs,” he said.

He also stated: “The prime minister and I are in lockstep in our commitment to meeting the fiscal rules at the upcoming Budget, to balancing the books with a buffer to protect against uncertainty, to controlling borrowing, to bear down on inflation, and to reducing long-term pressures on our public finances.

“This isn’t about lines on a graph or numbers on a spreadsheet, it is a matter of values, and there’s nothing progressive about the government spending one pound in every 10 on debt interest.”

More of Healey's speech can be found at: https://www.ftadviser.com/content/a16c590c-b528-4fc3-9b8b-e05476508263

What do you think of this? Does this provide you with confidence ahead of the Budget? If not, why?

3 responses from the Newspage community

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Editor
Tony SanchezVerified
Founder at Bridging Loan Directory
The speech gives some confidence about the direction of policy, but confidence in financial services depends on delivery rather than recognition that the UK has strong capital markets.

Through Bridging Loan Directory’s reporting, we continue to see lenders securing funding lines, launching products and completing substantial transactions. At the same time, higher borrowing costs, uncertain property values and slower exits are affecting decisions at borrower level.

A record stock market does not necessarily tell us whether an SME developer can fund a viable scheme or whether a landlord can refinance a bridging loan.

Fiscal discipline matters because government borrowing costs influence the wider cost of capital. What specialist property finance needs from the Budget is stability: credible public finances, predictable property taxation and regulation, and fewer abrupt changes that make lenders and borrowers rework otherwise viable plans.
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Riz MalikVerified
Independent Financial Adviser at R3 Wealth
The Chancellor is not a magician, but the government can do more to encourage growth by removing the barriers that prevent businesses from investing, hiring and expanding.

With bond markets watching closely, however, anyone hoping for an early Christmas present in the next Budget may be disappointed.

For many smaller businesses, the reality is stark, and no rescue package is coming. Unless you are considered too big to fail, growth will depend largely on your own ability to adapt, invest and make decisions in an increasingly challenging environment.
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David BelleVerified
Founder and Trader at Fink Money
'balancing the books with a buffer to protect against uncertainty' epitomises the British mindset and arguably the problems with growth.

The UK has a shortfall of about £2tn in a capital gap.

This means less investment in productivity, which creates stagflation.

Rather than wanting to cut this gap, the government are insisting they should protect against inherent uncertainty, which funnily enough, is made worse by their policies.

By ensuring more is taken out of workers and businesses, they are creating the fragility in the economy they desperately think they're avoiding by... 'protecting against uncertainty.'

This shows very clearly that they govt's desire is command and control and is completely anti-business and anti-risk, which is the underlying foundational issue with the UK.