By Basant El-Faramawy
UK Chancellor John Healey delivered his first Budget on Wednesday, 28 October 2026, in the House of Commons, announcing measures to cut energy bills and reduce costs on everyday goods.
Energy bill reforms
The Treasury confirmed standing charges on gas bills will be scrapped from 2027 or as soon as possible after, with fixed costs moved to the unit rate. The change could save 60% of households an average of £45 annually. Healey pledged to cut energy bills "for good" and signaled a review of fixed daily electricity charges.
Consumer price changes
The Chancellor also announced a 2p increase on the price of a pint, alongside cuts to the cost of supermarket staples including baked beans, gherkins, and chocolate. Import tariffs on over 100 products will be removed.
Political reaction
Greater Manchester Mayor Andy Burnham said the Budget would deliver "breathing space" for families and businesses in the first Budget under his leadership.
