From MoneyWeek · · 2m
John Healey's Autumn Budget Announcements
Chancellor John Healey's first Autumn Budget includes energy bill cuts, tax hikes, and support for households and businesses.
In brief
Chancellor John Healey's first Autumn Budget includes energy bill cuts, tax hikes, and support for households and businesses. Chancellor John Healey announced energy bill support, tax changes, and business incentives in his first Autumn Budget. Originally reported by MoneyWeek.
Budget Focus
Chancellor John Healey announced policy changes to address rising living costs and energy bills in his first Autumn Budget.
Defence Spending Commitment
The government committed to fully funding the £15 billion Defence Investment Plan, including £4.7 billion previously unfunded.
Ukraine Support
The chancellor pledged over £10 billion in additional economic and military support to Ukraine.
Business Tax Surcharge
A surcharge on banks' profits will rise from 3% to 6% for 15 months starting in January 2027.
High Street Business Rates
The threshold for high street shops paying business rates in England will increase from £12,000 to £18,000 from April 2027.
Vape Shops and Gaming Centres
Vape shops and adult gaming centres in England will no longer benefit from business rates relief from April 2027.
Gambling Machine Taxes
Taxes on gambling machines will hike from 20% to 25% for higher stakes machines from next April.
Tax on Foreign Firms
The government wants to close a tax loophole allowing foreign firms to sell services to UK businesses without accounting for UK VAT.
Saver and Landlord Taxes
Tax rates on income from property or savings outside tax-wrappered accounts will rise by 2% from April 2027.
Household Energy Payment
A £100 'Household Energy Payment' will be made to up to 20 million households in England from January 2027.
Energy Bill Support
The VAT cut on electricity bills will be extended to 1 July 2027, taking £50 off the average energy bill.
Business Incentives
The National Wealth Fund and British Business Bank will receive an additional £20.4 billion in government funding to boost investment and business growth.
What to remember
Chancellor John Healey announced energy bill support, tax changes, and business incentives in his first Autumn Budget.
