John Healey Named UK Chancellor and Shields State Pensioners

Prime Minister Andy Burnham appointed John Healey as Chancellor of the Exchequer on July 21, 2026, as part of a cabinet shake-up. Healey replaces Rachel Reeves, whom he praised for her financial discipline and historic role as the first female chancellor.

In his first major announcement from Number 11 Downing Street, Healey vowed to shield state pensioners from paying tax on their Department for Work and Pensions payments beginning next year. The move is designed to prevent the triple lock mechanism from pushing state pensions above the £12,570 personal tax-free income tax allowance.

Healey previously served as the first Minister for Pubs under Gordon Brown in 2010. Hospitality industry leaders are now monitoring whether his previous experience in that role will influence Treasury decisions regarding business rates and taxation.