UK finance minister presents first budget: higher bank tax and energy support

FinanceInternationalEuronews.comOct 28, 2026, 9:01 AM45 s readAI summary

John Healey, the UK finance minister, presented his first budget to Parliament. The government estimates GDP growth of 1.2% in 2026, above the 1.1% forecast, slowing to 1.0% the following year. He announced he will double the surcharge on bank profits to 6% to fund a direct payment of 100 pounds to 20 million households for energy bills, a first-time buyer ISA replacing the lifetime ISA, changes to the pensions triple lock and the local retention of business rates.

In 45 seconds

UK GDP will grow 1.2% in 2026 and slow to 1.0% the following year, according to the forecasts presented by Healey.
The surcharge on bank profits will double to 6% to fund a 100-pound payment to 20 million households for energy.
A first-time buyer ISA will replace the lifetime ISA and the penalty will be revised for those buying homes above the price cap.

Read the full story at Euronews.com

IASummary generated by artificial intelligence from a story by Euronews.com. It may contain errors: the original source prevails.

Reino Unido
presupuesto
impuestos
banca
pensiones

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UK finance minister presents first budget: higher bank tax and energy support

In 45 seconds

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