UK Budget extends energy help and doubles the bank surcharge

Chancellor John Healey's Budget has a £100 Household Energy Payment in 2027 for up to 20 million households in bands A to D in England, extends the temporary VAT cut on electricity bills to 1 July 2027 and extends the 5p fuel duty cut for a further six months. The Bank Corporation Tax Surcharge rises from 3% to 6% for 15 months. The release said "The stability rule is met with £15 billion of headroom in 2029-30" and that headroom is "£9 billion lower than in March".