Healey raises taxes on banks and landlords to fund £100 handouts for 20 million families
The Guardian reported that Chancellor John Healey announced a tax increase on banks and landlords as part of the Budget 2026.
The Guardian reported that Chancellor John Healey announced a tax increase on banks and landlords as part of the Budget 2026. The additional revenue will fund a £100 winter handout for 20 million households.
Healey framed the measures against a backdrop of “global economic storms”, saying they are driving up energy prices and deepening the cost‑of‑living crisis. He also linked the grim outlook to the war in Iran, which he said is pushing oil and gas prices higher.
Official forecasts, according to the report, show no end in sight for the cost‑of‑living pressures, prompting the chancellor to act in his first budget with what the Guardian described as “bold ambitions and welcome first steps”.
Why it matters
The tax hike finances direct cash support for millions of families while signalling the government’s response to rising energy costs and a prolonged cost‑of‑living crisis.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Budget, Briefing, Heather Stewart, Pippa Crerar Editorial
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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