bank tax

U.K News / US News

UK Budget 2026 Summary: £100 Energy Payments, Bank Tax Rise and Pension Tax Allowance Explained

Chancellor John Healey delivered his first Budget on Wednesday, 28 October 2026, promising a package to help households through what he called global economic storms. The headline measure is a £100 payment for 20 million households, funded in part by a higher tax on banks, alongside a new pension tax allowance and a rise in the minimum wage. Healey, serving…