Budget 2026 calculator: find out if you are better or worse off

John Healey delivered his Budget on October 28, 2026, addressing issues related to higher energy and fuel bills caused by the Middle East conflict. The budget included a £1bn boost for social and affordable housing in England, taking total funding for the government's 10-year homes program past £40bn. He also announced plans to provide more powers and funding to mayors and regional leaders across England.

To help households with rising costs, Healey introduced a £100 cost-of-living payment for around 20 million qualifying households based on council tax bands A-D. Additionally, the budget includes support measures for small breweries and billions of pounds in new defense spending announced at next year’s spending review.

In Northern Ireland, the Budget included direct Treasury investment of £7.5m for a Queen's University-led research hub focused on cyber and AI industries, aiming to strengthen east-west trade between Northern Ireland and Great Britain under post-Brexit rules.

The Scottish Government criticized the budget, with SNP Westminster economy spokeswoman Kirsty Blackman stating that it "shows the Labour government doesn't get Scotland" and fails to address rising household bills. Deputy First Minister Jenny Gilruth welcomed progress but noted that it does not go far enough in meeting significant energy costs faced by families.

Overall, while the budget aimed to provide some relief for households and boost regional development, critics argue that its measures do not fully alleviate the economic challenges posed by the ongoing conflict and inflationary pressures. The Scottish Government also criticized the lack of meaningful assistance provided by the UK Budget for Scotland's current financial struggles.