UK's Healey offers billions of pounds of help for households amid global economic storms
EWU•Finance minister John Healey announced a £2.6 billion package, including £100 payments for about 20 million households and an extended fuel duty freeze. The government forecast GDP growth of 1.2% in 2026 and 1.0% in 2027.
1. Household support measures
Healey announced support to help households through what he called “global economic storms,” including £100 payments for about 20 million households in lower-valued homes to offset rising energy bills. The payments will cost £2.6 billion. He also extended the freeze on fuel duty, including the five-pence temporary cut introduced in 2022, until at least July.
2. Growth and fiscal outlook
The Office for Budget Responsibility forecast GDP growth of 1.2% in 2026, slightly above its previous 1.1% forecast, and 1.0% in 2027, down from 1.6%. Healey said the government's buffer for meeting its main fiscal target had fallen to £15 billion from £24 billion, and that debt interest in the current financial year would cost more than £14 billion.
