Budget 2026 live: £100 energy payment for millions and rise in bank tax as watchdog warns on stalling living standards

Chancellor warns of ‘global economic storms’ threatening UK economy

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Andrew Sparrow, Graeme Wearden
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The Guardian
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Budget 2026 live: £100 energy payment for millions and rise in bank tax as watchdog warns on stalling living standards
18m ago08.50 EDT

Describing how he will change the structure of bills, Healey says:

I’m making further big changes to bring bills down in the long term. First on clean power generation.

This government will only buy and build new projects when they lower bills and when they can connect to the grid.

Second, we will further break the grip of international gas prices on our bills by moving more of our old renewables onto fixed price contracts.

And third, we will build cheaper, faster grid connections through GB grid and reform the complex web of institutions that govern the system.

This is how we deliver radical change Britain needs on energy.

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