Budget winners and losers: pensioners and households gain as banks and betting shops hit
How the Burnham government’s first attempt to ease cost of living pressure pans out for key stakeholders Budget 2026: key points at a glance Every budget has its winners and losers
By The Guardian
John Healey’s first Budget as chancellor sets out measures aimed at easing pressure on households, while increasing taxes on banks, gambling businesses, landlords and some savers.
The package includes a £100 Household Energy Payment for people living in council tax bands A to D. The money is expected to be paid directly into bank accounts in January, with the government saying about 20 million households will qualify.
Low-income pensioners and households receiving benefits are also among those targeted for additional help with energy costs. However, the decision to remove gas standing charges could leave people in larger homes paying more, as the fixed daily fee is replaced by higher usage costs.
Motorists will avoid an increase in fuel duty, with the tax remaining frozen. Drivers will therefore retain the existing 5p benefit linked to the duty freeze.
The Budget also changes the tax treatment of banks. A surcharge on bank profits above £100 million is set to rise from 3 per cent to 6 per cent, making banks among the main businesses facing higher charges.
Gambling companies and betting shops face an increase in machine games duty, which will rise from 20 per cent to 25 per cent. The Betting and Gaming Council warned that the changes could put jobs and businesses at risk.
Industry representatives said more than 600 betting shops had already closed or announced closures since the previous Budget. The council warned that around 9,000 jobs and nearly 1,000 betting shops and casinos could be affected by the government’s measures.
Landlords will also face a two-percentage-point increase in tax on rental income from next April. The Office for Budget Responsibility described the change as a material reduction in returns for private landlords and said some of the cost could eventually be passed on to tenants.
Savers face changes to the withdrawal charge on certain savings products. The charge is due to fall from 25 per cent to 20 per cent, meaning people withdrawing money would lose the government bonus but could broadly recover their original deposits and accrued interest.
The Budget also removes import tariffs on more than 100 supermarket products, which is expected to reduce the price of some items, including marmalade and gherkins.
Cheshire households will need to wait for confirmation of their eligibility and payment arrangements for the £100 energy support before the money is paid in January.