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Healey delivers first Budget with energy bills focus
Chancellor John Healey has delivered his first Budget, reversing predecessor Rachel Reeves' plans to cut cash Isa allowances and announcing measures to reduce energy bills.
Chancellor John Healey has delivered his first Budget under Prime Minister Andy Burnham, reversing Rachel Reeves' plan to cut cash Isa allowances and maintaining the £20,000 annual tax-free limit. The Budget focuses on providing what Healey termed 'breathing space' for households and businesses facing cost-of-living pressures. Key announcements include scrapping standing charges on gas bills from 2027, expected to save 60 per cent of households around £45 annually, and freezing fuel duty. The Treasury is also examining plans to remove green levies from energy bills and delink gas and electricity prices. A fuel duty freeze and import tariff cuts on over 100 products, including popular foods, were announced to ease household costs.
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