Budget 2026 · John Healey
Budget 2026: What the Chancellor said.And what he didn’t.
Powered by GovConnex instant transcript - 57
- in the speech, worth £31.6bn raised and £17.8bn given back over six years
- 34
- not in the speech, worth £6.1bn raised and £11.7bn given back over six years
In the speech
£31.6bn raised · £17.8bn given back over six years
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This will demand deep reform of our energy system and starting at the budget today carried through the 10 year plan into the months and the years ahead. Madame Deputy Speaker for many years under conservative governments policy costs were simply loaded onto household bills through levies today I'm putting an end to that we'll introduce a new cost control framework to drive down all aspects of energy bills and I will scrap the upcoming gas shippers obligation and levy to fund hydrogen projects and instead back those projects directly from government. And I'm making further big build are making further big changes to bring bills down in the long term.
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…on our bills by moving more of our old renewables onto fixed price contracts and third we will build cheaper faster grid connections through GB grid and reform the complex web of institutions that govern the system. This is how we deliver radical change Britain needs on energy it won't happen overnight and so I'm taking immediate action to give families and businesses breathing space in the here and now in the first week of this new government we took VAT off electricity for 29 million households today I'm extending that VAT cut through the winter and spring to July taking 50 pounds off the annual price cap and for business our new British industrial competitiveness scheme will take 25% off electricity bills for 10,000 firms at the heart of British industry it will go live in April and I confirm that we'll make backdated payments for energy costs this year too. Next year working with my right honourable friend the energy secretary will go further to make bills fairer gas standing charges these standing charges cost people over £100 a year regardless of how much gas they use so…
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…on our bills by moving more of our old renewables onto fixed price contracts and third we will build cheaper faster grid connections through GB grid and reform the complex web of institutions that govern the system. This is how we deliver radical change Britain needs on energy it won't happen overnight and so I'm taking immediate action to give families and businesses breathing space in the here and now in the first week of this new government we took VAT off electricity for 29 million households today I'm extending that VAT cut through the winter and spring to July taking 50 pounds off the annual price cap and for business our new British industrial competitiveness scheme will take 25% off electricity bills for 10,000 firms at the heart of British industry it will go live in April and I confirm that we'll make backdated payments for energy costs this year too. Next year working with my right honourable friend the energy secretary will go further to make bills fairer gas standing charges these standing charges cost people over £100 a year regardless of how much gas they use so…
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…competitiveness scheme will take 25% off electricity bills for 10,000 firms at the heart of British industry it will go live in April and I confirm that we'll make backdated payments for energy costs this year too. Next year working with my right honourable friend the energy secretary will go further to make bills fairer gas standing charges these standing charges cost people over £100 a year regardless of how much gas they use so from next year through off gem we will remove standing charges from household gas bills and we will set out similar reforms to follow for electricity bills Madame Deputy Speaker let me say this to families at home I know that with the conflict in the Middle East rising energy bills are a real worry I know that people look to government at times like this not to solve all their problems but to give them a bit of breathing space so today I'm taking one further step this winter for 20 million households in council tax bans a to D I'm announcing a £100 energy payment for households. Paid directly into people's bank accounts to deal with rising energy bills that's a 2.6 billion pound scheme to take the pressure off in the coldest months and see people through to the spring.
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…competitiveness scheme will take 25% off electricity bills for 10,000 firms at the heart of British industry it will go live in April and I confirm that we'll make backdated payments for energy costs this year too. Next year working with my right honourable friend the energy secretary will go further to make bills fairer gas standing charges these standing charges cost people over £100 a year regardless of how much gas they use so from next year through off gem we will remove standing charges from household gas bills and we will set out similar reforms to follow for electricity bills Madame Deputy Speaker let me say this to families at home I know that with the conflict in the Middle East rising energy bills are a real worry I know that people look to government at times like this not to solve all their problems but to give them a bit of breathing space so today I'm taking one further step this winter for 20 million households in council tax bans a to D I'm announcing a £100 energy payment for households. Paid directly into people's bank accounts to deal with rising energy bills that's a 2.6 billion pound scheme to take the pressure off in the coldest months and see people through to the spring.
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The home is the office the van is the family car Earlier this year the government extended the 5P cut to fuel duty and slash red diesel to its lowest rate in over 20 years. With the war in the Middle East still driving high fuel prices I'm extending these tax cuts for motorists through the winter and spring to July. Supporting households hauliers and farmers and for anyone who relies on their car for work from care workers to engineers I'm increasing the higher mileage rate from 25p to 30p per mile from 25 to 35p per mile and I'm…
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With the war in the Middle East still driving high fuel prices I'm extending these tax cuts for motorists through the winter and spring to July. Supporting households hauliers and farmers and for anyone who relies on their car for work from care workers to engineers I'm increasing the higher mileage rate from 25p to 30p per mile from 25 to 35p per mile and I'm making permanent the increase to the standard mileage rate introduced earlier this year. And in this budget I'm acting on other costs too.
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And in this budget I'm acting on other costs too. To help with the weekly shop I'm suspending tariffs on over 100 supermarket products to keep prices down. For pensioners and delivering the new pension tax allowance so that pensioners with income of up to the value of the full new state pension will not pay income tax in this parliament.
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To help with the weekly shop I'm suspending tariffs on over 100 supermarket products to keep prices down. For pensioners and delivering the new pension tax allowance so that pensioners with income of up to the value of the full new state pension will not pay income tax in this parliament. Forex mine workers I'm guaranteeing that every penny of the pension fund surplus now goes to miners I know the job's not done and I will go on to ensure the full transfer of the guarantor's fund for carers I'm getting…
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For pensioners and delivering the new pension tax allowance so that pensioners with income of up to the value of the full new state pension will not pay income tax in this parliament. Forex mine workers I'm guaranteeing that every penny of the pension fund surplus now goes to miners I know the job's not done and I will go on to ensure the full transfer of the guarantor's fund for carers I'm getting rid of the cliff edge on earnings so that people don't lose their entire carers allowance when they earn a penny over that threshold and for 2.3 million of our lowest paid workers I'm increasing both the national minimum wage and the national living wage by 3.9% Madame Deputy Speaker I know that for families the worst thing is feeling that your kids are missing out even on little things because money is tight so today I'm announcing £15 million for organization like Dolly…
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For pensioners and delivering the new pension tax allowance so that pensioners with income of up to the value of the full new state pension will not pay income tax in this parliament. Forex mine workers I'm guaranteeing that every penny of the pension fund surplus now goes to miners I know the job's not done and I will go on to ensure the full transfer of the guarantor's fund for carers I'm getting rid of the cliff edge on earnings so that people don't lose their entire carers allowance when they earn a penny over that threshold and for 2.3 million of our lowest paid workers I'm increasing both the national minimum wage and the national living wage by 3.9% Madame Deputy Speaker I know that for families the worst thing is feeling that your kids are missing out even on little things because money is tight so today I'm announcing £15 million for organization like Dolly…
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For pensioners and delivering the new pension tax allowance so that pensioners with income of up to the value of the full new state pension will not pay income tax in this parliament. Forex mine workers I'm guaranteeing that every penny of the pension fund surplus now goes to miners I know the job's not done and I will go on to ensure the full transfer of the guarantor's fund for carers I'm getting rid of the cliff edge on earnings so that people don't lose their entire carers allowance when they earn a penny over that threshold and for 2.3 million of our lowest paid workers I'm increasing both the national minimum wage and the national living wage by 3.9% Madame Deputy Speaker I know that for families the worst thing is feeling that your kids are missing out even on little things because money is tight so today I'm announcing £15 million for organization like Dolly…
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…don't lose their entire carers allowance when they earn a penny over that threshold and for 2.3 million of our lowest paid workers I'm increasing both the national minimum wage and the national living wage by 3.9% Madame Deputy Speaker I know that for families the worst thing is feeling that your kids are missing out even on little things because money is tight so today I'm announcing £15 million for organization like Dolly Parton's imagination library and the book trust who give books to children I've heard calls for pay transparency on job adverts to close the gender pay gap and we will act soon to make sure women are paid and promoted fairly the Slabour government is determined to make the economy work better for all families and so I've listened to representations from colleagues across the house about paternity leave and I'm making a down payment on change today. And as a mark of respect for their role I will make self-employed fathers and partners eligible for paid parental leave for the first time.
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…government is determined to make the economy work better for all families and so I've listened to representations from colleagues across the house about paternity leave and I'm making a down payment on change today. And as a mark of respect for their role I will make self-employed fathers and partners eligible for paid parental leave for the first time. Madame Deputy Speaker since day one I've said that I'll be a chancellor who champions the small British firms that give character to our communities the bakeries, the cafes, the hair salons they make the places that we…
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…bakeries, the cafes, the hair salons they make the places that we live and work the places we love and I want these businesses to invest, to recruit to expand. And so today I'm taking action to support our high streets. In the first week of this government we cut 20% off business rates for pubs, clubs and music venues from April next year. And I've heard calls from members across this house and a call from one member in particular the right honorable member for the member for Makerfield. And so I'm increasing the threshold for small business rate relief…
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In the first week of this government we cut 20% off business rates for pubs, clubs and music venues from April next year. And I've heard calls from members across this house and a call from one member in particular the right honorable member for the member for Makerfield. And so I'm increasing the threshold for small business rate relief for retail hospitality and leisure businesses from £12,000 to £18,000. That means 70,000 more businesses, I'm not just cutting their rates and taking them out of paying business rates altogether.
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That means half of our shops, restaurants and gyms pay no business rates at all. And for all other businesses in these sectors I will freeze their rates in real terms so that none face an above inflation rise for the next two years. Madam Deputy Speaker to pay for this support for our high streets and raising taxes on gambling.
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Madam Deputy Speaker to pay for this support for our high streets and raising taxes on gambling. By increasing machine games duty from 20% to 25% for higher stakes machines whilst protecting pubs and seaside arcades. I will carve out adult gaming centers and vape shops from business rates reliefs and extend the business rates transitional relief supplement for another two years and I will strengthen the requirements for online…
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By increasing machine games duty from 20% to 25% for higher stakes machines whilst protecting pubs and seaside arcades. I will carve out adult gaming centers and vape shops from business rates reliefs and extend the business rates transitional relief supplement for another two years and I will strengthen the requirements for online marketplaces so that sellers cannot avoid paying VAT when they sell online. Deputy speaker for those who feel like celebrating tax cuts for our high streets and providing a £10 million alcohol duty relief for around 2,000 small British brewers and British side of acres.
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By increasing machine games duty from 20% to 25% for higher stakes machines whilst protecting pubs and seaside arcades. I will carve out adult gaming centers and vape shops from business rates reliefs and extend the business rates transitional relief supplement for another two years and I will strengthen the requirements for online marketplaces so that sellers cannot avoid paying VAT when they sell online. Deputy speaker for those who feel like celebrating tax cuts for our high streets and providing a £10 million alcohol duty relief for around 2,000 small British brewers and British side of acres.
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…reliefs and extend the business rates transitional relief supplement for another two years and I will strengthen the requirements for online marketplaces so that sellers cannot avoid paying VAT when they sell online. Deputy speaker for those who feel like celebrating tax cuts for our high streets and providing a £10 million alcohol duty relief for around 2,000 small British brewers and British side of acres. Madame Deputy Speaker breathing space now fresh hope for the future delivered to the British people by this Labour government.
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I begun by making sure that people who pay the tax they owe when they owe it and by closing loopholes in our tax system. First I'm giving HMRC funding to improve compliance and stronger powers to collect overdue tax from those who can clearly afford to pay but ignore repeated contact. And I'm reforming the administration of self-assessed income tax from 2029 bringing more of these taxpayers in line with the majority so that they make smaller more regular payments instead of facing large bills that are…
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…administration of self-assessed income tax from 2029 bringing more of these taxpayers in line with the majority so that they make smaller more regular payments instead of facing large bills that are often harder to pay. Second I'm changing outdated rules so that people taking profits out of their companies are taxed consistently. And I will protect the treatment of genuine commercial transactions and families passing their businesses down to the next generation Third I'm modernizing the tax treatment of investment by foreign sovereigns. This will…
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Second I'm changing outdated rules so that people taking profits out of their companies are taxed consistently. And I will protect the treatment of genuine commercial transactions and families passing their businesses down to the next generation Third I'm modernizing the tax treatment of investment by foreign sovereigns. This will bring UK rules more in line with other investment and other nations. While remaining still one of the world's most generous regimes in the world.
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While remaining still one of the world's most generous regimes in the world. And fourth I will resolve the question of VAT for larger taxi companies ensuring they play by the same rules no matter where they're located while still protecting smaller local firms. Madame Deputy Speaker providing support for British families and businesses has meant raising some tax to meet my commitment to fiscal discipline.
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I'm maintaining full expenses in corporation tax for eligible assets. For other assets I'll provide greater upfront relief for new investment increasing the main first year allowance from 40% to 50% while reducing the main writing down allowance rate from 14% to 12% and reducing the threshold for business asset disposal relief in capital gains tax from £1 million to £500,000 meaning no change for 3 and 4 claimants. And I'm increasing the rates on tax on income from property and savings by a further 2 percentage points from April 2027 with no change to tax on income from dividends and no change on tax to income from employment.
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I'm maintaining full expenses in corporation tax for eligible assets. For other assets I'll provide greater upfront relief for new investment increasing the main first year allowance from 40% to 50% while reducing the main writing down allowance rate from 14% to 12% and reducing the threshold for business asset disposal relief in capital gains tax from £1 million to £500,000 meaning no change for 3 and 4 claimants. And I'm increasing the rates on tax on income from property and savings by a further 2 percentage points from April 2027 with no change to tax on income from dividends and no change on tax to income from employment.
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…while reducing the main writing down allowance rate from 14% to 12% and reducing the threshold for business asset disposal relief in capital gains tax from £1 million to £500,000 meaning no change for 3 and 4 claimants. And I'm increasing the rates on tax on income from property and savings by a further 2 percentage points from April 2027 with no change to tax on income from dividends and no change on tax to income from employment. Madam Deputy Speaker 88% of people will pay no more tax on their savings and I'm taking a new approach today to encourage people on ordinary incomes to save and to invest.
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Madam Deputy Speaker 88% of people will pay no more tax on their savings and I'm taking a new approach today to encourage people on ordinary incomes to save and to invest. I will not go ahead with the cut to the tax free amount that people can put into a cash ISA. The limit will stay at £20,000 per year tax free for people of all ages and to make investment more accessible. I will work with the sector to create a new starter ISA to reward first time investors. Finally let me turn to banks.
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And amid and amid the global economic storms I am looking to our banks to help fund breathing space for British families. And so banks will pay an extra 3% on the bank surcharge. This will be time limited to pay for immediate support on energy bills starting in January entering 15 months later. I have made my choice at this budget.
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Madame Deputy Speaker, the biggest barrier to fast growth firms here in Britain is investment here in Britain. In today's budget I'm boosting investment through our public financial institutions. A further 20.4 billion for the National Wealth Fund and the British Business Bank over the coming years supporting 140,000 jobs. And I'll work with pension providers, with asset managers and with a wider industry to accelerate more private investment into Britain's innovative fast growth firms.
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And I'll work with pension providers, with asset managers and with a wider industry to accelerate more private investment into Britain's innovative fast growth firms. We will prevent regulation from holding back investment, by removing regulation and tariffs worth 800 million pounds to business. We will legislate for a regulatory carve-out so that innovative products like drones and medicines can be safely tested and rapidly scaled and I'm reestablishing the better regulation executive to cut out dated…
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Nowhere is the necessary role for the state clearer than in artificial intelligence. To forge a British way to seize opportunities and guard against the risks that is based on security we're already world leaders in AI safety and security which today's budget backs with an extra half a billion pounds and it is based on sovereignty. With our first of its kind sovereign AI unit.
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So here's the deal. And today launching a new British data center covenant with strict tests that data centers must meet to invest in local communities, create local jobs and protect local water supplies. In return critical data centers will get the grid connections they need and where necessary be allowed to build onsite generation while they wait.
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In return critical data centers will get the grid connections they need and where necessary be allowed to build onsite generation while they wait. Built on sovereignty and security, I want to ensure that the British people can benefit from the huge potential upsides of AI. With the new AI challenge prize to find innovative uses for AI in public services and the union learning fund to back workers. This is how Britain leads on AI secure, safe and working for the British people. Madame Deputy Speaker let me turn to enterprise.
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From the startups of today to the scale ups of tomorrow to the billion pound companies of the 2030s, I want to see them succeed and stay in Britain. So for those just starting out and tripling the trading allowance, the amount you can earn from a new venture tax free from £1,000 to £3,000. I'm launching a new young entrepreneurs allowance which will cover a year of living costs for young founders while they turn their ideas into businesses.
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So for those just starting out and tripling the trading allowance, the amount you can earn from a new venture tax free from £1,000 to £3,000. I'm launching a new young entrepreneurs allowance which will cover a year of living costs for young founders while they turn their ideas into businesses. And as recommended by the women in Take Task Force, I'm also announcing a new scale up program to support female founders and the British business bank will double its commitments to women led businesses and funds to…
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And building. On our world leading EMI scheme today I'm launching EMI 2 doubling the generosity of the company share option plan so more companies can hire and retain top talent as they grow. Madame Deputy Speaker let me say this to the men and women building their businesses in Britain.
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And I believe that when business founders take that risk build an exceptional company create wealth for Britain we should recognize that success and keep those people here to invest again. That is why today I'm announcing a Founders Relief, a brand new relief in capital gains tax, a 10% rate on lifetime gains up to £10 million for the founders of our most successful firms. Madame Deputy Speaker. This is how we make Britain the place where the companies of the future are built. Entrepreneurs backed by this budget investment backed by this budget talent backed by this budget innovation…
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That is what I do today. In the West Midlands £10 million for a new market hall in Stafford in the southwest £10 million for Bristol's Temple Quarter and £3 million to help Plymouth's young people get jobs in defence. In the east of England new access to government borrowing for the Cambridge Development Corporation in the north £50 million to upgrade the Leeds College of Building £10 million for berries indoor market 20 million to restore Liverpool's Little Woods building and £3 million for a tech company incubator in the Don Valley. And I can announce that we will hold the next international investment summit in Gateshead in the spring. Madame Deputy Speaker the Divolve governments will receive equivalent funding for the measures in this budget.
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Led by the treasury and number 10 North. In today's budget I'm announcing new good growth funds for mayors and incubator capital for areas without mayors. I'm announcing flexible funding to invest in local economies boosted by a further 1.5 billion pounds of devolved loans for mayoral authorities.
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The most radical act of devolution in a generation, the devolution of tax revenues. That is the step I take today. Alongside this budget a roadmap for fiscal devolution. For the first time I'm making the commitment that 100% of business rates will be retained locally by the end of the decade. So if local leaders help businesses to start and grow more of the rates they pay will stay in that area. From next year 20% of business rates revenues will go to Mayor's.
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And from 2028 a share of income tax receipts will go to Mayor's as well. Also from 2028 Mayors and other strategic authorities will have new powers to introduce an overnight visitors levy. Taken together these are long term funding streams they can be used to back investment into big local infrastructure.
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We're making our streets and borders safer. We're fixing clumbering crumbling classrooms. We're extending childcare and we're restoring our NHS. We're restoring our NHS spending $37 billion more on health this year than in the last year of the last conservative government. And today I'm accelerating our work to high up violence against women and girls and setting up a new misogyny prevention fund partnering with the private sector. I want to pay tribute to my cabinet colleagues and thank them for everything they're doing prioritising within their department budgets in the face of tough fiscal constraints.
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I want to pay tribute to my cabinet colleagues and thank them for everything they're doing prioritising within their department budgets in the face of tough fiscal constraints. In today's budget I'm fully funding the defence investment plan including through capital reprioritization across white walls. This honours the commitment made both by me and by the Prime Minister. And as we look ahead to the spending review, we start from a position of strength, with spending at that higher base.
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In the budget today I'm investing in AI for the civil service transformation. To support saving a further 600 million from back office costs. And alongside our admirable friend the health secretary I'm launching a review of NHS productivity and AI. So staff can spend their time with patients and not on admin second streamlining the state through devolution…
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…a review of NHS productivity and AI. So staff can spend their time with patients and not on admin second streamlining the state through devolution reducing the double running between central and local government. And today's budget provides £100 million for a local apprenticeship service to match young people with local firms funded from savings in welfare fraud and error. And third with a new focus on prevention. Just as we ring fence capital spending to invest in future success. So at the next spending review I will prevention spending that brings down costs in the future.
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This government will then set out our response before the end of the year with a white paper and legislation to follow next year. The Prime Minister has already announced that from 2030 we will adjust the triple lock so that the state pension rises every year and keeps pace with their earnings and inflation. This will save £15 billion a year by the end of the 2030s £50 billion by 2050.
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He told us you've made my day. £10 billion of additional economic and military support based on loans export finance guarantees and half a million in urgent military funding for this winter. The whole house, the whole country is united for Ukraine and today we send a clear message to Moscow.
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So first I'm launching today a new innovative defence finance task force to lead this work ahead of the spending review. Second I'm now confirming that we will commence treaty negotiations on the multilateral defence mechanism or bank with Finland, Poland and the Netherlands to boost defence investment and joint procurement across NATO allies Third we will expand our defense industrial base by getting the maximum amount of private investment into defence including through public-private partnerships. And fourth as an immediate step, I can tell the House that the National Wealth Fund and the British Business Bank will launch a new focus on defence dual use technology and sovereign capability deploying up to £5 billion of investment and lending over the next four years. Madame Deputy Speaker, I will ensure this record defense investment works twice. For our national security and once for British jobs and British business.
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We've already promised everyone sleeping rougher route off the streets this winter. And today I confirm a further 430 million pounds to keep that offer open for the rest of this parliament. Not just this winter but every winter. This is amoral mission for me. It's a moral mission for the Prime Minister. It is a moral mission for the Labour Party. Madam Deputy Speaker Holm is the heart of all our lives.
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So I'm taking action today to deal with immediate pressures and taking decisions to start to deal with the long term challenges. To get more homes built I'm drawing the line on constant changes to building regulations. No major changes to building regulations in this parliament except where it's critical for safety. And I'm removing biodiversity requirements for more brownfield sites.
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To get more council homes built. And extended cheaper borrowing for councils and making all land sold to social housing providers VAT free. And today I'm providing an additional 1.5 billion pounds for the social and affordable housing program taking our total government commitment back in council housing to £40 billion.
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And extended cheaper borrowing for councils and making all land sold to social housing providers VAT free. And today I'm providing an additional 1.5 billion pounds for the social and affordable housing program taking our total government commitment back in council housing to £40 billion. Madame Deputy Speaker the Conservative sold off our council Howard.
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And finally for every young person who's working hard saving what they can and dreaming of their first home, I'm taking action. I'm announcing that a first time buyer ISA will replace the lifetime ISA. And from today I'm dealing with the lice of penalty.
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And from today I'm dealing with the lice of penalty. So that if the home you want costs more than the limit you will get back at least what you put in. And I'm going further.
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From next spring a new scheme for first time buyers who don't have the Bank of Mum and Dad behind them. Your first home and equity loan scheme which I'm funding today with 4.7 billion pounds of government backed lending. Madame Deputy Speaker hope starts with a home.
Amounts are the Treasury’s costings: orange takes money, blue gives it back.
Not in the speech
£6.1bn raised · £11.7bn given back over six years
- 4 Budget 2026, table 6.1 · line 4 £2 cap on single bus fares in England outside London for a year +£5m over six years · Nets out over six years
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Checked against the speech
- “bus fare” isn’t in the speech
- 8 Budget 2026, table 6.1 · line 8 Universal Credit £2,500 surplus earnings threshold kept for another year −£140m over six years · 2027-28 only
- 17 Budget 2026, table 6.1 · line 17 Climate Change Levy rates on electricity frozen −£100m over six years · −£25m a year by 2030-31
- 25 Budget 2026, table 6.1 · line 25 More funding for strategic authorities to take on new powers −£180m over six years · 2027-28 only
- 27 Budget 2026, table 6.1 · line 27 R&D tax relief claims simplified −£305m over six years · −£65m a year by 2030-31
- 32 Budget 2026, table 6.1 · line 32 Cheaper charging at local public EV chargers −£100m over six years · 2027-28 to 2028-29
- 42 Budget 2026, table 6.1 · line 42 Defence admin savings put into the frontline −£190m over six years · 2027-28 to 2029-30
- 51 Budget 2026, table 6.1 · line 51 VAT reverse charge restricted on services bought from overseas +£370m over six years · +£75m a year by 2030-31
- 65 Budget 2026, table 6.1 · line 65 Vehicle excise duty on lorries cut to £1 for a year −£185m over six years · 2026-27 to 2027-28
- 66 Budget 2026, table 6.1 · line 66 VAT cut to 5% on family days out over the summer −£310m over six years · 2026-27 only
- 67 Budget 2026, table 6.1 · line 67 Free bus travel for children in England in August 2026 −£145m over six years · 2026-27 only
- 68 Budget 2026, table 6.1 · line 68 Foreign branch exemption made compulsory for corporation tax +£2.5bn over six years · +£460m a year by 2030-31
- 69 Budget 2026, table 6.1 · line 69 Electricity Generator Levy up from 45% to 55% +£95m over six years · 2026-27 to 2027-28
- 71 Budget 2026, table 6.1 · line 71 Carbon price support removed to cut bills −£235m over six years · Mostly 2028-29 to 2029-30
- 72 Budget 2026, table 6.1 · line 72 Youth Guarantee and apprenticeship support expanded −£665m over six years · 2027-28 to 2028-29
- 74 Budget 2026, table 6.1 · line 74 Money for strategic technologies, local growth and key industries −£2.4bn over six years · −£355m a year by 2030-31
- 75 Budget 2026, table 6.1 · line 75 Growth Guarantee Scheme backs £6.5bn more lending to small firms −£915m over six years · −£160m a year by 2030-31
- 76 Budget 2026, table 6.1 · line 76 Leeds City Fund keeps all of its business rates growth −£105m over six years · −£25m a year by 2030-31
- 77 Budget 2026, table 6.1 · line 77 UK–India trade deal brought into force −£1.9bn over six years · −£385m a year by 2030-31
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Checked against the speech
- “India” isn’t in the speech
- 78 Budget 2026, table 6.1 · line 78 Tariffs and quotas on imported steel changed +£670m over six years · +£120m a year by 2030-31
- 82 Budget 2026, table 6.1 · line 82 Infected blood compensation widened −£1.1bn over six years · 2026-27 to 2030-31
- 83 Budget 2026, table 6.1 · line 83 Plan 2 and Plan 3 student loan interest capped at 6% −£440m over six years · Mostly 2026-27 to 2027-28
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Checked against the speech
- “student loan” isn’t in the speech
- 86 Budget 2026, table 6.1 · line 86 Company car tax rates set for electric, hybrid and petrol cars +£655m over six years · +£310m a year by 2030-31
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Checked against the speech
- “company car” isn’t in the speech
- 87 Budget 2026, table 6.1 · line 87 Licensing for supported housing −£215m over six years · −£30m a year by 2030-31
- 88 Budget 2026, table 6.1 · line 88 No VAT on donated medicines −£130m over six years · −£25m a year by 2030-31
- 89 Budget 2026, table 6.1 · line 89 VAT on medical locum staffing restored to its intended treatment +£485m over six years · +£100m a year by 2030-31
- 91 Budget 2026, table 6.1 · line 91 Registration for large university franchise providers +£945m over six years · +£200m a year by 2030-31
- 92 Budget 2026, table 6.1 · line 92 Councils’ high needs budgets adjusted +£245m over six years · 2026-27 to 2027-28
- 93 Budget 2026, table 6.1 · line 93 High value council tax surcharge: deferrals, discounts and exemptions −£200m over six years · −£50m a year by 2030-31
- 94 Budget 2026, table 6.1 · line 94 Payrolling of company car and other benefits delayed −£45m over six years · Mostly in 2026-27
- 95 Budget 2026, table 6.1 · line 95 £135 customs duty relief on low-value imports removed +£190m over six years · Mostly in 2028-29
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Checked against the speech
- “customs” isn’t in the speech
- 96 Budget 2026, table 6.1 · line 96 Energy from waste kept out of emissions trading for longer −£1.5bn over six years · −£450m a year by 2030-31
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Checked against the speech
- “emissions trading” isn’t in the speech
- 97 Budget 2026, table 6.1 · line 97 Corporation tax change for gas distribution spread over five years £0 over six years · Nets out over six years
Every line of the Treasury’s costings (Budget 2026, table 6.1) worth £20m or more in any year, checked against GovConnex’s instant transcript of the speech. Amounts are each measure’s total over the six years of the costings, 2026-27 to 2031-32, with what it comes to a year by 2030-31 where it carries on, or the years most of it falls in.
Photo of John Healey: UK Parliament, CC BY 3.0.
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