UK Chancellor John Healey scraps gas standing charges and restores cash ISA limit
UK Chancellor John Healey announced in the United Kingdom that the government will abandon the planned reduction of the cash ISA allowance and will scrap daily gas standing charges, a move welcomed by many financial advisers. Healey delivered his first budget amid tighter fiscal space, noting stronger-than-expected growth but warning of inflation and borrowing pressures (CNBC).
He described the budget as modest, aimed at cutting energy costs, avoiding new taxes and supporting regional growth while maintaining defence spending (BBC). Earlier, he signalled that removing gas standing charges could lower household bills by up to £50 a year (The Telegraph).