Healey gives households £100 to help navigate ‘global economic storms’
Source: The Guardian ·
Payments to 20m homes part of package to cut energy bills and ease cost of living crisis, paid for by bank windfall tax‘A pretty grim picture’: outlook for UK living standards slashed despite Healey’s budgetBudget 2026: key points at a glanceBudget 2026 live – latest updatesJohn Healey promised to steer Britain through “global economic storms” as he announced an energy giveaway of £100 to 80% of…
From the source
John Healey promised to steer Britain through “global economic storms” as he announced an energy giveaway of £100 to 80% of households in England, funded by a smaller than expected windfall tax on banks. In his first budget, the chancellor said 20 million households in council tax bands A to D would receive a £100 payment – a measure he said would cost £2.6bn. That includes equivalent funding for Scotland and Wales, whose governments can decide whether to replicate the measure. The policy will help a large number of middle earners, reaching houses worth up to about £600,000 in London. “I know that with the conflict in the Middle East, rising energy bills are a real worry. I know that people look to government at times like this, not to solve all their problems, but to give them a bit of breathing space,” he said, announcing the payment. The relief on bills comes at a cost to big banks via the banking surcharge rise, and to savers and landlords, who were hit with an unexpected tax…