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UK Minister Healey Unveils Budget

British finance minister John Healey delivered his first budget featuring increased bank taxes, energy bill relief for households, and higher minimum wages. The measures aim to ease surging energy costs while funding various public services and business tax cuts.

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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 delivered his first budget on Wednesday, doubling a bank profit tax surcharge to 6% and raising online marketplace taxes to fund business rate cuts. The fiscal package aims to ease household energy burdens while reshaping domestic commercial property taxes. The measures target high earners and major digital platforms to protect physical retail stores and support public finances.