Healey Revealey-d

Scenes of déjà vu this week, as oil hits $100 and we digest our 7th new Prime Minister in 10 years. Trivia fans will note that this is as often as Real Madrid beat Liverpool in the Champions League from 2013-2023 and also how many times Taylor Swift has had a Number One in the 2020s. 7 is also a mathematical outcast and a symbol of completeness in many cultures. (Days of the week, colours in the rainbow, Wonders of the World, deadly sins, dwarves' yadda yadda.) Andy Burnham will be hoping it’s a sign of completeness and stability for his reign.

On the global stage, as oil surges, Donald Trump is reportedly considering a “massive attack” on Iran, tariffs are back on the agenda and stock markets have sold off in response.

Closer to home, and markets have responded relatively well to John Healey’s appointment as Chancellor. UK Government bonds – the barometer of what investors think about the UK’s attractiveness as a place to invest – have been stable. It’s not Healey’s first rodeo and he worked with private capital to fund infrastructure projects when Blair was PM. The recent scars from Liz Truss’s cavalier can-can Budget remain visible and future spending plans will be positioned with caution.

The general mood music seems to be one of taxing wealth in line with income. Capital gains tax

is on the agenda, as is a wealth tax. The Autumn Budget will be one to watch and I suspect consultations will be launched and amendments announced. However, substantive changes take time to implement. Speculation around pension changes before previous Budgets led to people making poor choices, so I would urge caution to any reader who is second-guessing specific changes. We will have some time to digest and adjust, so be careful about acting on rumours alone.

This week, we’ve a feature piece on what the new Burnham government could mean for your finances. But we also want to hear from you. What do you think this means for our money? We’ll share the findings from this 2-minute survey next week – I’d love to hear from you and read every response.

Over and out for this week. I’m writing this from Kos, with Nana Mouskouri in my ears and a very low-calorie spanakopita on my breakfast plate. Privileged to be hanging out with my parents and kids in this beautiful place, where the sea is just a touch warmer than my usual Solent.

Have a good weekend, everyone. Yassas.

Holly