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“Chancellor John Healey chose not to increase windfall taxes on oil and gas firms in Wednesday’s budget despite calls from some to tap into the sector’s mammoth profits to help pay for household energy support.”

“The Times reported that Mr Healey will also announce plans in his Budget to axe green levies from energy bills and put them onto general taxation.”

“Prime Minister Andy Burnham said earlier this week that Mr Healey would use the “highest degree of prudence” on the economy, but also look to protect living standards.”