UK Treasury chief faces headwinds as he delivers first budget under new Prime Minister, Andy Burnham
The Budget raises taxes on banks and gambling firms while extending energy and fuel relief for households.
- On Wednesday, Chancellor John Healey delivered his first Autumn Budget under Prime Minister Andy Burnham, presenting measures including energy support, business rates relief increases, and regional devolution plans.
- Businesses faced a 'tsunami of rising costs' from employment, energy, and rates over the past two years, prompting calls for a stable tax environment to restore confidence and drive sustainable economic growth.
- Tax Partner David Baggaley of Clive Owen LLP described announcements as 'balanced rather than transformational,' welcoming business rates relief increases from £12,000 to £18,000 but warning that reducing Business Asset Disposal Relief from £1 million to £500,000 could affect entrepreneurs.
- Sunderland pensioner Dorothy Gorringe argued the budget does little to help with food costs, while Carlisle taxi driver Stuart Curtis called fuel costs 'crippling,' stating the freeze is 'not going to touch the sides.'
- Healey announced new devolution loans and pledged that 20% of business rates revenue will remain local from next year, aiming to empower mayors to carry out large regeneration projects across the North East.
215 Articles
215 Articles
POLITICAL COMMENT: Budget delivers breathing space today and fresh hope for the future for Portsmouth
Families will receive direct help with energy bills, motorists will see fuel duty frozen and thousands more high-street businesses will be taken out of business rates, as the Labour Government backs working people today while investing in Britain’s future.
Budget 2026: £100 energy payment, fuel freeze extension and tariff reduction for beans, chocolate and kerosene
John Healey has announced the Executive will receive funding for a £100 household energy payment for lower income households while a temporary VAT cut on electricity bills is to be extended until July 1, 2027.
Think Tanks Pan Healey’s ‘Do-Nothing’ Budget
The reactions are in from Westminster’s wonks on Healey’s Breathing Space Budget. They’re struggling to breathe… Onward’s director Simon Clarke said: “Britain is drowning in three trillion pounds of debt, while the Chancellor shuffled costs from one pocket to the next… Scrapping standing charges on gas bills only to load the cost onto gas usage…
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