Budget winners and losers: pensioners and households gain as banks and betting shops hit
Summary
UK Chancellor John Healey’s budget sets out support for some households and small businesses while raising taxes for banks, betting shops, savers and landlords. Measures include energy payments, pension changes and higher taxes on some income and gambling, while student loan repayment thresholds will be frozen.Key Facts
- Households in council tax bands A to D in England are set to receive a £100 payment toward winter energy costs from January; other UK nations have received funding for similar support.
- The state pension is set to rise to £13,036 next April, alongside a new personal allowance for pensioners at the same level.
- The budget provides £100 million in subsidies for on-street electric vehicle charging and introduces a home-buying scheme for some first-time buyers in England.
- Small alcohol producers will receive more generous tax relief, and tied pubs in England and Wales will have to offer a guest beer.
- The bank corporation tax surcharge will rise from 3% to 6% for 15 months, with banks expected to pay an additional £1.5 billion over that period.
- Tax on slot machines with stakes of £1 or more will rise from 20% to 25% from April 2027.
- Tax rates on savings interest and property income will rise beyond previously announced levels; student loan repayment thresholds will be frozen from next April.
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