Healey’s 2026 Budget Prioritizes Incremental Relief Over Structural Reform
Chancellor John Healey delivered a cautious 2026 Budget focused on minor cost-of-living measures rather than major structural reforms. Key actions include a £100 energy payment for households in council tax bands A to D, a 6% bank surcharge, and increased taxes on savings and property income. The plan avoids raising income tax or VAT, instead targeting banks, landlords, and gamblers to fund relief. While the government frames this as providing 'breathing space,' critics argue it lacks the ambition needed to address deep fiscal challenges, with significant decisions deferred to future spending reviews.