John Healey unveils £100 energy bill support and bank tax in first Budget

In his first Budget, UK Chancellor John Healey announced a one-off £100 payment for households in council tax bands A to D in England; Wales will match it and Scotland plans to replicate it. Gas standing charges are to be scrapped in 2027, the 5p fuel duty cut is extended until July, and minimum wage rates will rise by 3.9% in April. To help fund the measures, tax on big banks’ profits will increase from 3% to 6% from January next year until April 2028. Healey also raised the business-rates threshold for high street shops in England, while Conservative leader Kemi Badenoch called the Budget insufficiently bold.