P102news.today102Wed 28 Oct14:20
NEWS.TODAY
HEADLINES 2/9
Healey unveils first Budget with energy support amid economic storm
Chancellor John Healey announced £100 energy payments for 20 million households and scrapped gas standing charges in his first Budget, citing global economic pressures including the Iran war.
Chancellor John Healey delivered his first Budget on 28 October, focused on providing 'breathing space' for households and businesses amid what he described as 'global economic storms'. The Budget includes £100 payments to 20 million households in council tax bands A to D, costing £2.6 billion, and scraps standing charges on gas bills from 2027. The VAT cut on electricity bills will extend to July. To fund these measures, Healey raised taxes on banks by an extra 3 per cent for 15 months from January and increased gambling taxes. The Office for Budget Responsibility downgraded growth forecasts to 1 per cent next year and noted the UK will spend £14 billion more on debt interest this year, largely due to the war in the Middle East pushing up energy prices.
From 17 outlets:
Summary written by AI from these reports. See news.today/ai
OL: —