Three stories worth knowing today, in plain English: what happened, why it matters and what comes next.
New today: The Budget was delivered yesterday: here are its contents and the OBR's new forecast.
Chancellor John Healey's first Budget doubled the bank surcharge to 6% for 15 months and raised tax on some slot machines. The Office for Budget Responsibility cut his headroom against the main fiscal rule to £15bn in 2029/30, from £23.6bn in March.
Why it matters: Headroom is the cushion against bad news. Healey said he used some of it to absorb the Iran war's effect on borrowing costs, and the IFS says hard decisions are still to come.
What next: The OBR expects inflation to peak at 3.8% in early 2027. The Bank of England sets interest rates on 5 November.
Sources: Investment Week on the OBR forecast · Portfolio Adviser on the headroom fall · Institute for Fiscal Studies, initial response
The Budget gives about 20 million households £100 towards energy bills this winter, at a cost of £2.6bn. Domestic gas standing charges, about £108 a year, are to be scrapped, as soon as next year. The electricity VAT cut is extended to July.
Why it matters: Energy prices have risen with the Iran war. The IFS welcomed the gas change but called it ad hoc, and warned that any move on electricity standing charges could raise unit prices.
What next: Ofgem announces the price cap for 1 January to 31 March 2027 on 25 November.
Sources: Reuters factbox on the Budget · Brit Brief on the energy measures · Ofgem price cap timetable
With about two-thirds of ballot boxes counted on 28 October, Binyamin Netanyahu's bloc had 56 of 120 seats. Gadi Eisenkot's opposition bloc had 48 and the Arab parties 16. A majority needs 61.
Why it matters: Neither side has a majority in this partial count. Votes in double envelopes, including soldiers' ballots, are counted later and the final seat split may change.
What next: Opposition leaders were due to meet on 29 October to discuss coalition options. No date for forming a government has been set.