Payments to 20m homes part of package to cut energy bills and ease cost of living crisis, paid for by bank windfall tax ‘A pretty grim picture’: outlook for UK living standards slashed despite Healey’s budget Budget 2026: key points at a glance Budget 2026 live – latest updates John Healey promised to steer Britain through “global economic storms” as he announced an energy giveaway of £100 to 80% of households in England, funded by a smaller than expected windfall tax on banks. In his first budget, the chancellor said 20 million households in council tax bands A to D would receive a £100 payment – a measure he said would cost £2.6bn. Continue reading...
Healey gives households £100 to help navigate ‘global economic storms’
Source: The Guardian
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Budget 2026 live: £100 energy payment for millions and rise in bank tax as watchdog warns on stalling living standards
OBR says that living standards are forecast to rise by just 1% over the whole post-Covid decade Budget 2026: key points at a glance Martin Lewis said that, when he met John Healey this morning, the chancellor said that, having removed standing charges from gas bills, he would also like to get rid of them from electricity bills. Lewis said: The chancellor said he will be talking to Ofgem about how they get rid of the charge on electricity as well, but that is ‘trickier’ apparently and will take longer. Continue reading...
The Guardian
Bills, banks, ‘breathing space’: what was in Burnham’s first budget? - The Latest
In his first budget as chancellor, John Healey has pledged to offer ‘breathing space’ to help Britons navigate ‘global economic storms’. There were a record number of measures, including a one-off £100 energy payment to millions and a rise in the levy on bank profits. But the Conservatives have criticised the government for postponing big decisions, including on defence and welfare. Lucy Hough speaks to economics editor Heather Stewart – watch on YouTube Continue reading...
The Guardian
What you need to know about Your First Home scheme for first-time buyers
Chancellor fleshes out details of scheme unveiled last month to help 70,000 households on to the property ladder Budget 2026: key points at a glance Income tax: How much more will you pay? Nils Pratley: Labour’s modest reheat of help to buy is worth a try A new £4.7bn government scheme will help 70,000 households on to the property ladder and save first-time buyers “hundreds of pounds a month”, the chancellor, John Healey, said on Wednesday. Last month, Andy Burnham announced Your First Home , which aims to give a helping hand to first-time buyers in England who do not have access to the “bank of mum and dad”, and Healey revealed in his first budget how the scheme would work, including who would be eligible. Continue reading...
The Guardian
Ben Jennings on John Healey’s ‘breathing room’ budget – cartoon
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BBC Politics
Burnham insists 'no confusion at all' over his Brexit position
The prime minister said it was his "responsibility" to improve the Brexit deal at a summit in Brussels next month.
BBC Politics
Chris Mason: Budget felt cautious despite its range of small measures
The chancellor has had to grapple with a mix of public finances and household finances being a mess.