John Healey, speaking in his first address as chancellor to the Labour Party conference, indicated the party’s intention to pursue welfare reform alongside efforts to promote fiscal discipline in the upcoming budget. He emphasized the need to balance economic optimism with the realities of a challenging global economic environment.

Healey announced the creation of a new local apprenticeship service, which will be overseen by regional mayors and aimed at increasing opportunities for young people across the country. The initiative intends to deliver thousands of additional apprenticeships, supporting employment and skills development.

Alongside job creation measures, Healey suggested that changes to the welfare system would also be part of the budget plans. These reforms aim to encourage more people into work while addressing the rising cost of benefits. He framed the overhaul as a “moral duty” to foster employment and reduce dependency on social support.

Separately at the conference, Andy Burnham, the mayor of Greater Manchester, was expected to advocate for a review of the pensions triple lock—a policy that guarantees annual pension increases by the highest of inflation, earnings growth, or 2.5%. Burnham signaled his willingness to consider modifying or scrapping the triple lock to help fund a national care service, a move positioning him as ready to confront longstanding challenges in social care provision.

Government officials indicated the prime minister might be open to reconsidering the pensions policy, though they were unlikely to commit to abandoning it entirely at this stage. The proposal faced opposition from prominent trade union leaders; Sharon Graham, general secretary of Unite, described any attempt to scrap the triple lock as “electoral suicide.”

Burnham was also anticipated to call for what he described as “an honest conversation” with the public about the nation’s fiscal and social challenges, asserting that transparency and directness would be vital to restoring public confidence. He remarked, “Hope comes from honesty and from saying the things politicians usually avoid.”