New analysis reveals 130,100 Newcastle families will receive direct help with energy bills, under Government plans to give £100 to every Band A-D household. John Healey’s Budget has set out new measures to provide breathing space for families and businesses, while making the long-term choices needed to put the country on a better course.
Families facing rising energy costs, driven in part by wars Britain did not start, will receive immediate support, alongside £100 million for local authorities to support households in greatest need.
Leader of Newcastle Labour Group, Cllr Ged Bell said,
“Families in Newcastle need breathing space, and real change, and fresh hope for the future – and that’s what this Budget delivered.
“That starts with supporting families and businesses with rising energy bills, which have been driven up by global conflicts. £100 will make a real difference to households all over Newcastle with the bills this winter – and that’s just the start.
“Andy Burnham’s Government is starting the big changes needed to put the country on a better course, driving good growth in every postcode. This government is providing fresh hope for the future by taking on the big challenges we face, from energy, to housing, to our national security.”
Other budget measures included extending the temporary 0% VAT rate on electricity until 30 June 2027, while Ofgem work on abolishing gas standing charges, helping reduce costs for millions of households.
Motorists will be supported too, with the 5p fuel duty cut extended and fuel duty rates frozen until 1 July 2027. More generous mileage rates will also become permanent for employees and self-employed people using their own vehicles for work.
Businesses and high streets will benefit from a £1 billion business-rates package, taking around 70,000 additional retail, hospitality and leisure businesses out of business rates altogether. More than half of businesses in those sectors will therefore pay no business rates.
But alongside that immediate breathing space, the Budget begins the bigger changes needed to deliver good growth in every postcode and fresh hope for the future.
More than £20 billion of additional capital for the National Wealth Fund and British Business Bank will help drive investment, alongside £1.85 billion for scale-ups and a new Founders’ Relief to back entrepreneurs and early investors.
Local leaders will be given greater control over their economic futures, backed by £285 million for Good Growth Funds, putting more decisions about investment and growth in the hands of the people closest to the challenges.