Chancellor John Healey will deliver his first Budget to the House of Commons today, after promising 'breathing space' for households battling with the cost of living crisis.
Treasury confirms gas standing charges axed
The Treasury has already announced scrapping standing charges on gas bills, which cover the cost of delivery to homes and businesses. The move is part of the Chancellor's inaugural Budget statement.
ISA allowance reversal planned
The Chancellor is also reportedly planning to reverse the decision to slash the annual Isa allowance from £20,000 to £12,000 in his first Budget.
Budget statement timing
The statement will be delivered at 12.30pm. Follow for updates.
