Budget 2026: Green levies stripped from energy bills Energy John Healey will scrap green levies from energy bills and shift environmental funding into the wider tax base to minimise the impact of the Iran war on UK households. The Chancellor said on Wednesday he would axe the surcharge applied to energy bills “for good”, in what represents major shift of the government’s environmental agenda. [...]
Healey scraps ‘unfair’ standing charges from gas bills Energy John Healey has said he will scrap “outdated and unfair” standing charges from gas bills, in a move which could save households £45 per year. The Chancellor said these fees – which are charged on top of the daily rate to cover the cost of connecting to a supply – are part of “an energy [...]
Healey weighs removing standing charges on gas bills Energy Chancellor John Healey is looking at cutting standing charges on gas bills as part of the government’s push to cut household energy costs, the Prime Minister has announced. Speaking in the House of Commons today, Andy Burnham said he had asked the Chancellor and the energy secretary, Miatta Fahnbulleh, to consider stripping “unfair” standing charges [...]
Bank of England set to overshadow Healey’s Budget with interest rate hike October 21, 2026 The Bank of England is expected to overshadow John Healey’s maiden Budget with a “done deal” interest rate hike aiming to tame soaring inflation while risking economic growth. Top City economists predict the central bank’s Monetary Policy Committee (MPC) will raise the base rate at its November meeting, just one week after the Autumn Budget. [...]
Midday Markets: Is the UK economy ‘back’? October 15, 2026 The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the biggest stories in the City straight into your inbox every lunchtime. Today, Ali Lyon, assesses whether August’s positive GDP figures are a sign of a revival in the UK economy. Sign up to the City AM News Updates [...]
Retailers demand energy bill cuts as costs rise by £440m October 8, 2026 Retailers have urged John Healey to slash green policy costs from energy bills, warning that their electricity costs are set to soar by £440m this year. The British Retail Consortium (BRC) – which represents top retailers including Tesco, Sainsbury’s and Marks & Spencer – has warned that rising “policy costs” on energy bills will inevitably [...]
Cutting VAT won’t fix Britain’s energy bills October 2, 2026 Andy Burnham’s answer to rising energy costs has been a VAT cut on domestic energy bills. But all this does is move money from one pocket to another, with the taxpayer covering the difference, says Alan Chang Britain is facing an energy emergency. January bills are expected to climb by £276 for the typical UK [...]
UK house prices fall at fastest rate since May as mortgage rates weigh on demand October 1, 2026 UK house prices fell at their fastest pace since May as expensive mortgages and uncertainty ahead of the Autumn Budget fuelled caution among buyers. Prices fell 0.2 per cent during September, faster than economists had expected and reversing August’s 0.2 per cent increase, according to data from Nationwide. The average UK home was valued at [...]
Burnham’s North Sea ‘pragmatism’ vow leaves energy industry hopeful October 1, 2026 Andy Burnham promised to be “pragmatic” about drilling in the North Sea in his conference speech. Those in Aberdeen say there’s not a moment to lose. Bedecked in her obligatory high-vis jacket and surrounded by hardhard-wearing oil and gas workers, Miatta Fanbulleh’s first ministerial trip was a striking piece of political symbolism. Just three days [...]
Burnham grid shake-up offers data centres escape from power queue September 30, 2026 Britain’s data centre developers could be handed a new route around years-long waits for electricity under Andy Burnham’s plan to open up the power grid to competition. The prime minister unveiled Great British Grid (GB Grid) on Tuesday, a publicly owned arm of Great British Energy that will aim to challenge existing network operators and [...]