Chancellor Healey offers 'breathing space' with £100 energy payment and fuel duty extension

Chancellor John Healey has announced a one-off £100 Household Energy Payment for council tax bands A to D in England, funded by extra bank taxes, to offset projected £400 rises in annual energy bills. The VAT cut on electricity bills will be extended to July, and gas standing charges will be scrapped in England, Scotland, and Wales, with the Treasury estimating 60% of households will save £45 annually. Additionally, the 5p temporary cut in fuel duty on petrol and diesel has been extended to July, keeping the levy at 52.95p per litre despite recent price increases from the Iran war. The government also retained the £20,000 annual cash tax-free limit for Individual Savings Accounts.

Editor's note: Concise, accurate summary of the budget measures and their impacts. All figures correspond to the provided source text.