What time is the Budget and what might be in it?

Chancellor John Healey is due to deliver the Labour government’s first Budget at about 12:30 on Wednesday, with measures intended to ease the cost-of-living pressure on households. Fixed gas standing charges are set to be removed for around 23 million homes from 2027, although higher unit prices will offset some of the change; the Treasury estimates three-fifths of households will save an average of £45 a year. The government also plans to remove tariffs on 100 food items, while the fuel duty freeze and the 5p cut are expected to remain in place. The Budget will provide more details on Andy Burnham’s Your First Home scheme for first-time buyers in England.