By Sohaib Shams
UK Chancellor John Healey delivered his first Budget on Wednesday, 28 October 2026, in the House of Commons, announcing a series of cost-of-living measures including the scrapping of standing charges on gas bills from 2027.
Standing Charges Scrapped from 2027
The Treasury confirmed that standing charges, which cover the cost of delivering gas to homes and businesses, will be abolished from 2027 “or as soon as possible after.” Fixed costs will be shifted to the unit rate, potentially saving 60 per cent of households an average of £45 annually.
Energy Bill Cuts and Electricity Fees
Healey said he would use his first autumn statement to cut energy bills “for good” and signalled a review of fixed daily fees on electricity as well.
Alcohol Duty and Supermarket Staples
The Chancellor also announced a 2p increase on the price of a pint, alongside cuts to the cost of supermarket staples such as baked beans, gherkins, and chocolate.
Import Tariffs Removed
Import tariffs on over 100 products will be removed, a move aimed at providing “breathing space” for families and businesses, as highlighted by Andy Burnham.
