Britain's Chancellor of the Exchequer John Healey holds aloft the red Budget Box as he poses with members of his treasury team, Britain's Chief Secretary to the Treasury Emma Reynolds (3R), Britain's Financial Secretary to the Treasury James Murray (3L), Britain's Economic Secretary to the Treasury Lucy Rigby (2L), Britain's Exchequer Secretary to the Treasury Dan Tomlinson (2R), Britain's Minister for Pensions Torsten Bell (L) and Britain's Parliamentary Secretary at the Treasury David Pitt-Watson, as he leaves 11 Downing Street in central London on October 28, 2026, before presenting the government's annual budget to Parliament. On Wednesday, John Healey will present his first budget, which will test its ability to support purchasing power and increase defence spending, all while working with limited financial leeway. (Photo by HENRY NICHOLLS / AFP via Getty Images)