Budget 2026: Breathing space for today, hope for the future
What was announced
The Chancellor has unveiled a Budget that gives families and businesses breathing space today, while delivering the big structural changes needed for the future.
Key points, in the publisher's words
- Chancellor John Healey delivers a Budget to give families and businesses breathing space from rising costs, with action on energy bills, fuel duty, wages and the everyday cost of living.
- Investment to get Britain building and growing, backing homes, high streets and British businesses while strengthening energy and national security.
- Fair choices maintain economic stability, with the Government cutting borrowing and meeting its fiscal rules with a buffer against uncertainty.
Figures in this announcement
Each line is quoted from the original. Figures are as the publisher stated them on the day.
- “This will be paid for by increasing the Bank Corporation Tax Surcharge from 3% to 6% for 15 months, before ending on 31 March 2028.”
- “Paternity: The government is extending parental pay to more than 160,000 additional parents, including self-employed dads and partners who have previously missed out.”
- “Making everyday life easier: 1,000 Post Office parcel drop boxes will be rolled out and 600 branches upgraded by the end of the financial year, while the new Warm Homes loans scheme will help households spread the upfront cost of solar panels, batteries and heat pumps, which together could cut bills by up to £550 a year.”
- “Higher wages: On 1 April 2027, the National Living Wage will increase by 3.9% to £13.21 per hour.”
- “This uplift represents an increase of £910 to the gross annual earnings of a full-time worker on the National Living Wage.”
- “Saving money: Taken together, the government’s decisions on fuel duty across this Parliament will save the average car driver £230, the average large goods driver saves £472 and the average heavy goods driver nearly £4000 compared to plans under the previous government, and means petrol and diesel will be 15p per litre cheaper from April 2027.”
Check it against the official record
The latest official figures on the subjects this story covers, each with its source and full history:
Who and where
People
- John Healey (MP for Rawmarsh and Conisbrough (Labour)) · more news
UK bodies of power
- HM Treasury (UK government department) · more news
Constituencies of the MPs named: Rawmarsh And Conisbrough.
Where this sits in the 10 levels of power
Topics, as GOV.UK files them: Government.
Receipt
- Original: https://www.gov.uk/government/news/budget-2026-breathing-space-for-today-hope-for-the-future
- Published 2026-10-28 13:41:06 UTC
- Read by this site 2026-10-28 13:45:17 UTC from GOV.UK
- Saved copy: receipt 3732, with its SHA-256 fingerprint
Contains public sector information licensed under the Open Government Licence v3.0.
Related official news
- UK boosts support to Ukraine with £10 billion package
- Budget 2026 speech
- Budget 2026 Fact Sheet: Delivering for Every Region
- Further support for Ukraine
- Breathing space for Scottish families and businesses at Budget
- Breathing space for Northern Ireland families and businesses
- Breathing space for Welsh families and businesses at Budget 2026
- Cutting electric vehicle charging costs
More from GOV.UK
- Prime Minister and Chancellor’s call with the President of Ukraine: 28 October 2026
- Monetary policy remit: Budget 2026
- MOD appoints its first Director General Innovation
- The Chancellor’s Letter to the National Wealth Fund
- Government letter to the British Business Bank
- Remit and recommendations for the Financial Policy Committee: Budget 2026
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