UK Chancellor John Healey vows to tackle business costs in first Bloomberg interview

John Healey, newly appointed Chancellor of the Exchequer, addressed the nation in his first major broadcast on Bloomberg TV. He said he is “just as concerned about the cost of business as I am about the cost of living,” naming tax, energy, supply‑chain and labour costs as the main pressures on firms. He promised deeper Treasury engagement with companies across all sectors, noting that while consumer‑price inflation fell to 2.6 % in June, business‑related expenses have remained sticky.

Business groups welcomed the rhetoric but warned that words must translate into action on energy bills, taxes and supply‑chain resilience. Healey also outlined his fiscal philosophy, asserting that fiscal control, credibility, stability, growth and security are core duties of the Chancellor. Critics argued the four assumptions repeat long‑standing Treasury thinking that has, they claim, failed to deliver growth and public‑service investment.

The commentary highlights the tension between Healey’s pledges and scepticism about whether his approach will effectively support UK enterprises and the wider economy.