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UK Treasury chief faces headwinds as he delivers first budget under new Prime Minister, Andy Burnham

  • The budget extended the electricity VAT cut until July 2027, providing an estimated £50 annual reduction in the price cap.
  • Eligible households in England’s council tax bands A to D will receive a one-off £100 Household Energy Payment from January 2027.
  • The Bank Corporation Tax Surcharge will increase from 3% to 6% for 15 months to help fund the electricity-bill measures.
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Daily Mirror broke the news in London, United Kingdom on Sunday, October 25, 2026.
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