Breathing space for Northern Ireland families and businesses

News story published by HM Treasury, Northern Ireland Office on Wednesday, 28 October 2026 at 14:35 UK time · 2026 Burnham Labour government.

What was announced

Families and businesses in Northern Ireland will get breathing space from Budget 2026.
HM Treasury, gov.uk

Against a backdrop of global uncertainty, rising energy costs and pressure on household finances, Chancellor John Healey has acted on the cost of living, fuel prices, and local jobs — alongside continued funding for the Northern Ireland Executive to provide public services.
This Budget will give families and businesses in Northern Ireland more financial breathing space by reducing heating oil bills, extending fuel duty relief, supporting pensioners and those on the National Living Wage and National Minimum Wage.
The £270 million through the usual Barnett consequentials enables the Northern Ireland Executive to match public services elsewhere in the UK.

Each line is quoted from the original. Figures are as the publisher stated them on the day.

“Growth and jobs backed with Northern Ireland Investment Summit and £7.5 million investment in cybersecurity jobs and skills.”
“The Northern Ireland Executive will have an extra £270 million for public services until 2030.”
“In the Budget, John Healey announced: Heating oil: The removal of the 4% tariff on kerosene will support the 61% of households in Northern Ireland that rely on heating oil to heat their homes.”
“Combined with tariff suspensions earlier this year, this will save households up to £21 annually.”
“Pensions: by the end of this Parliament, roughly 40,000 low-income pensioners in Northern Ireland will pay less tax or none at all on their State Pension income, as a result of reducing the disproportionate administrative burden of paying small amounts of tax.”
“Backing growth in Northern Ireland £7.5 million of new funding for Queen’s University Belfast’s CSIT Cyber AI Hub.”

The latest official figures on the subjects this story covers, each with its source and full history:

Topics, as GOV.UK files them: Northern Ireland economy.

Original: https://www.gov.uk/government/news/breathing-space-for-northern-ireland-families-and-businesses
Published 2026-10-28 14:35:33 UTC
Read by this site 2026-10-28 14:45:12 UTC from GOV.UK
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