Budget 2026: Chancellor John Healey Scraps Gas Standing Charges, Saving 60% of Homes £45 a Year

Chancellor John Healey is set to deliver his first budget under Prime Minister Andy Burnham, signaling a cautious approach to fiscal policy. The headline measure is the scrapping of gas standing charges, which Healey says will save 60% of UK homes around £45 annually, providing direct relief to households. This move is part of a budget described as offering 'breathing space today, and fresh hope for the future,' rather than the transformative change Burnham hinted at when he pledged to end '40 years of neoliberalism.' The budget is expected to prioritize low-risk, incremental measures over sweeping reforms, with more radical elements of the Burnham agenda deferred. Pippa Crerar and Heather Stewart's overnight preview highlights the political balancing act facing the new government. As Healey addresses what he calls a 'difficult moment' for the UK, the budget aims to deliver modest but tangible benefits to voters while laying groundwork for future ambitions. The focus on everyday savings like standing charges underscores a strategy of steady, incremental progress over bold ideological shifts.