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UK Unveils Budget to Aid Households

British finance minister John Healey announced tax hikes on banks and landlords alongside household energy bill support in the first budget of Prime Minister Andy Burnham.

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Britain's Chancellor of the Exchequer, John Healey, leaves No 11 Downing Street carrying the traditional red ministerial box, before departing to the House of Commons to deliver the first budget under Prime Minister Andy Burnham's government, in London, Britain, October 28, 2026. REUTERS/Dylan Martinez/Pool

United Kingdom finance minister John Healey unveiled £2.6 billion in household energy support and tax hikes on banks and online marketplaces during Wednesday's late afternoon budget. The package marks the first fiscal plan under Prime Minister Andy Burnham's government amid rising energy costs. The measures aim to navigate global economic pressures while avoiding a severe bond market reaction.