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Burnham government’s maiden budget hits banks, savers to fund handouts

The Australian Financial Review (AFR) •
October 29, 2026 • 04:43 AM
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Chancellor John Healey claims his budget “for working people” will help navigate “global economic storms” in the short term and create conditions for growth.

Burnham government’s maiden budget hits banks, savers to fund handouts

London | UK Chancellor John Healey has raised taxes on banks, savers and property owners to help fund a modest cost-of-living package for households battered by a ferocious squeeze on disposable incomes.

Healey offered a £100 ($189) energy handout to 20 million households to help them weather “global economic storms” but faced claims that his maiden budget amounted to tinkering at the margins.

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