Few surprises as chancellor uses low-key speech blaming ‘global economic storms’ for stoking energy prices and cost of living crisis

• Budget 2026: key points at a glance

• Briefing: key questions answered by Heather Stewart and Pippa Crerar

• Editorial: Budget’s bold ambitions and welcome first steps

John Healey raised taxes on banks and landlords to fund a £100 winter handout for 20 million families as official forecasts made clear there is no end in sight for the cost of living crisis.

In his first budget, the chancellor blamed “global economic storms” for the grim outlook, as the war in Iran drives up oil and gas prices.

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, and John Healey’s first as chancellor was no exception. While some gained from tax breaks and rule tweaks, others will either pay more, or had their hopes of reforms dashed. Here are some of those with reason to cheer, or sigh:

Democrats urge FTC to tackle ‘systemic failure’ of biggest convenience and dollar stores over pricing practices after Guardian investigations

Thirty-four members of Congress are calling on the Federal Trade Commission to investigate reports of widespread overcharging by some of America’s most-recognized brand-name retailers.

The 28 October letter to the FTC comes in direct response to Guardian investigations of four of the nation’s largest dollar-store and convenience-store chains. Both investigations revealed pervasive mismatches between shelf labels and register prices.