UK's Healey preparing to cut household gas bills by £50, Telegraph reports
The move could save households up to £50, while 20 million will get a £100 energy payment funded partly by a bank tax.
- On Wednesday, Chancellor of the Exchequer John Healey will unveil his first budget, cutting household gas bills by up to £50 and curbing the Energy Secretary's power to impose net zero levies.
- Raising the minimum wage by nearly 4 per cent, the National Living Wage for workers aged 21 and over will rise 3.9 per cent to approximately £13.20 per hour, supporting cost-of-living relief.
- Banking group HSBC reported a pre-tax profit of 9.6 billion US dollars, or £7.2 billion, for the three months to September, up 32 per cent year-over-year. Chief Financial Officer Pam Kaur said there was "no pressure" on the bank despite potential tax hikes.
- Prime Minister Andy Burnham's cost-of-living strategy includes more than £1 billion for social and affordable housing, £432 million for rough sleeping programs, and over £600 million for AI development projects.
- Facing a difficult domestic economic situation worsened by international market turmoil caused by the Iran war, Healey promised Britons "breathing space today, and fresh hope for the future" in a video message.
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47 Articles
Worst Is Yet To Come After Labour's 'Scattergun' Budget, Experts Warn
Labour’s “scattergun” Budget has been criticised by experts for spreading cost of living support “too thinly” – meaning Brits have a tough period ahead of them.Chancellor John Healeypromised to offer the public “breathing space” in his maiden Budget on Wednesday with a £4.4 billion cost of living support package.That included giving a £100 lump sum to 20 million households in council tax bands A to D and scrapping standing gas charges, saving 60…
British Treasury Chancellor John Healy presented the first budget of Prime Minister Andy Bernem's office, including a temporary tax on banks, payments to households of £100 billion and a support package for Ukraine of £10 billion. The 150-page budget was called "a shift for the present, a new hope for the future", which in fact recognizes it as an interim step before larger reforms, wrote Politico. "It was a budget in the spirit of "the course i…
A surtax on bank profits will contribute to the aid paid to households to pay their energy bills. As a crucial factor for the country's security, the plan to finance defence to the tune of 3% of GDP in 2030 is returned to spring.
“I am counting on our banks to help finance a little breather for British families,” said John Healy during the presentation of the government budget. The post Britain – budget: Government taxes banks to better support households appeared first on in.gr.
UK budget lifts bank tax to offset energy bills
Britain's Labour government will increase a tax on profits earned by banks to help reduce soaring energy bills for millions of UK households, finance minister John Healey announced in his budget on Wednesday. The first budget of Prime Minister Andy Burnham's administration was delivered to parliament against a harsh global backdrop of rising inflation and borrowing costs, and the fallout of the Iran war. Despite the constraints, Healey pledged t…
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