UK Announces Winter Energy Payments for Millions, Additional Ukraine Aid
(MENAFN) The UK will provide a £100 ($133) winter energy payment to 20 million households in England, alongside £10 billion ($13.3 billion) in additional assistance for Ukraine, Treasury chief John Healey announced Wednesday.
The measures are part of Healey’s first budget, which also introduces adjustments to bank taxation, local government funding and defense expenditure.
The energy support will be available to households in council tax bands A through D, which generally include properties with lower taxable values. Additional funding will be provided to Scotland, Wales and Northern Ireland to enable their devolved governments to establish comparable assistance schemes.
Healey also outlined plans to expand the financial powers of local authorities and regional mayors, identifying "fiscal devolution" as a central element of the budget.
Under the proposed changes, local councils will be allowed to retain locally collected business rates by the end of the decade, while mayors will receive a portion of income tax revenues starting in 2028.
The government also confirmed a 3.9% rise in the minimum wage for workers aged 18 to 20, with a more modest increase planned for younger employees compared with other age groups.
The budget further introduces an additional 3% bank surcharge, a tax levied on financial institutions. Healey described the increase as "time-limited," with the change set below earlier expectations.
The measures are part of Healey’s first budget, which also introduces adjustments to bank taxation, local government funding and defense expenditure.
The energy support will be available to households in council tax bands A through D, which generally include properties with lower taxable values. Additional funding will be provided to Scotland, Wales and Northern Ireland to enable their devolved governments to establish comparable assistance schemes.
Healey also outlined plans to expand the financial powers of local authorities and regional mayors, identifying "fiscal devolution" as a central element of the budget.
Under the proposed changes, local councils will be allowed to retain locally collected business rates by the end of the decade, while mayors will receive a portion of income tax revenues starting in 2028.
The government also confirmed a 3.9% rise in the minimum wage for workers aged 18 to 20, with a more modest increase planned for younger employees compared with other age groups.
The budget further introduces an additional 3% bank surcharge, a tax levied on financial institutions. Healey described the increase as "time-limited," with the change set below earlier expectations.
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