Budget 2026: John Healey offers £100 payment to households to help navigate ‘global economic storms’
Summary
Chancellor John Healey announced a £100 payment for 20 million households in council tax bands A to D as part of a package to reduce energy costs. He said the government would fund the measures through higher taxes on banks, landlords and savers while maintaining its deficit-reduction plans.Key Facts
- The £100 payment for eligible households is expected to cost £2.6 billion.
- The government will extend a VAT cut on electricity bills until next July.
- Healey cancelled planned fuel duty increases and said some energy levies would move to general taxation.
- The gas standing charge is set to be abolished, potentially next year; the article says the change is expected to reduce bills for 60% of households, with heavier users covering the cost.
- The government will double the additional levy on bank profits from 3% to 6% for 15 months starting in January.
- The article reports a 2-percentage-point tax increase for landlords and savers.
- The Office for Budget Responsibility lowered its growth forecast for next year to 1%, from 1.6% in the spring.
- Healey said the government would keep its fiscal rule to balance current spending with tax receipts by 2029–30, with £15 billion of headroom.
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