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Gas reservation policy set for lower house vote today

Australia’s domestic gas reservation is set to be debated and voted on in the lower house today.

Rather than international base companies, determining through algorithms what Australians receive, it empowers people themselves to determine what you receive on your devices, so that you should have that control.

This isn’t about government having a greater role. It’s about people having a greater role, having more control themselves, and it’s deserving of support of this parliament.

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© Photograph: Mick Tsikas/AAP

© Photograph: Mick Tsikas/AAP

© Photograph: Mick Tsikas/AAP

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.

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© Photograph: House of Commons/AFP/Getty Images

© Photograph: House of Commons/AFP/Getty Images

© Photograph: House of Commons/AFP/Getty Images

Markets expect the central bank to hold rates steady for now.

“We’re not trying to be a better lawyer; we’re trying to help lawyers be better,” according to a FluxCap co-founder.

Burnham rules out calling early election

To experiment with AI’s predictive skills, I let Codex loose on a fantasy team. It tried to bench Erling Haaland at first, but it soon learned the error of its ways.

Investors in big cities are quietly consuming small businesses all over the country.

Markets expect the central bank to hold rates steady for now.

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:

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© Photograph: Richard Pohle/PA

© Photograph: Richard Pohle/PA

© Photograph: Richard Pohle/PA

Payments to 20m homes part of package to cut energy bills and ease cost of living crisis, paid for by bank windfall tax

• ‘A pretty grim picture’: outlook for UK living standards slashed despite Healey’s budget

• Budget 2026: key points at a glance

John Healey promised to steer Britain through “global economic storms” as he announced an energy giveaway of £100 to 80% of households in England, funded by a smaller than expected windfall tax on banks.

In his first budget, the chancellor said 20 million households in council tax bands A to D would receive a £100 payment – a measure he said would cost £2.6bn.

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© Photograph: House of Commons

© Photograph: House of Commons

© Photograph: House of Commons

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.

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© Photograph: Erin Scott/Reuters

© Photograph: Erin Scott/Reuters

© Photograph: Erin Scott/Reuters

OBR cautions about Middle East war dragging down growth and triggering a fresh cost of living crisis

• Healey offers £100 payment to households to help navigate ‘global economic storms’

• Budget 2026: key points at a glance

• Budget 2026 live – latest updates

British households face a “pretty grim picture” for living standards as the war in the Middle East drags down growth and triggers a fresh cost of living crisis, the government’s independent forecaster has said.

In a report as John Healey announced his first budget, the Office for Budget Responsibility (OBR) issued a sharp downgrade for growth in 2027, household disposable incomes and the public finances despite the measures taken by the chancellor.

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© Photograph: Vuk Valcic/SOPA Images/Shutterstock

© Photograph: Vuk Valcic/SOPA Images/Shutterstock

© Photograph: Vuk Valcic/SOPA Images/Shutterstock

Markets expect the central bank to hold rates steady for now.

EHRC says transparency needed to prevent pay discrimination, particularly against women

Workers should have a legal right to know their colleagues’ pay to help prevent pay discrimination, particularly against women, the UK’s human rights watchdog has said.

The Equality and Human Rights Commission (EHRC) made the recommendation in response to government proposals to overhaul equal pay laws, saying workers deserved a right to transparency if they suspected other staff were being paid more for similar work.

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© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images

Payments to 20m homes part of package to cut energy bills and ease cost of living crisis, paid for by bank windfall tax

• ‘A pretty grim picture’: outlook for UK living standards slashed despite Healey’s budget

• Budget 2026: key points at a glance

• Budget 2026 live – latest updates

John Healey promised to steer Britain through “global economic storms” as he announced an energy giveaway of £100 to 80% of households in England, funded by a smaller than expected windfall tax on banks.

In his first budget, the chancellor said 20 million households in council tax bands A to D would receive a £100 payment – a measure he said would cost £2.6bn.

Continue reading...

© Photograph: House of Commons/UK Parliament/PA

© Photograph: House of Commons/UK Parliament/PA

© Photograph: House of Commons/UK Parliament/PA

Jonathan Reynolds’ team has written to Gordon Brothers, which bought retailer for £1 last summer, to ‘establish the facts’

The business secretary’s team has written to the owner of Poundland amid fears that the cut-price retailer could collapse into administration, threatening to overshadow John Healey’s budget.

Sources said that Gordon Brothers, the US investment firm that bought the 600-store Poundland chain for £1 last summer, looks set to appoint administrators to the struggling retailer.

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© Photograph: Paula Solloway/Alamy

© Photograph: Paula Solloway/Alamy

© Photograph: Paula Solloway/Alamy

A U.S. cruise ship on a three-year voyage has suspended its journey in Cambodia due to high fuel costs, forcing hundreds of passengers to disembark

British pharma company one of biggest fallers on FTSE 100 despite better than expected financial results

• Business live – latest updates

Shares in GSK slid on Wednesday despite the UK drugmaker reporting better than expected financial results, as investors were unnerved by weaker sales of its respiratory syncytial virus (RSV) and shingles vaccines and recently launched medications.

Britain’s second-biggest pharmaceutical company reported a 19% decline in pre-tax profit to £1.9bn in the July to September quarter and £318m of restructuring charges, with more to come. Core operating profit and core earnings per share rose 5% and 1% respectively, however, beating analysts’ expectations.

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© Photograph: Loriene Perera/Reuters

© Photograph: Loriene Perera/Reuters

© Photograph: Loriene Perera/Reuters

John Healey is announcing his financial update – here are the main points, with political analysis

• Budget 2026 live – latest updates

John Healey starts by saying that his budget is “delivered at a time when global uncertainties and pressures are swirling worldwide and hitting people here at home”.

Healey says he will meet the fiscal rule that day to day spending must be covered by tax receipts and the investment rule that government debt, defined as public sector net financial liabilities, must be falling as a percentage of GDP in the third year of the forecast.

The government will have £15bn of headroom in 2029-30 and £20bn in 2030-31, according to the Office for Budget Responsibility, the government’s forecaster.

Government borrowing will be 4.2% of GDP this year, 3.4% next year, then 2.9% and 2.1% 1.8% by 2030-31, the OBR says.

Predictions of slowing growth were wrong, Healey says. The OBR says GDP will grow by 1.2% this year, 1% next year, 1.6% in 2028, 1.8% in 2029, 1.7% in 2030, 1.6% in 2031. In March the OBR had predicted GDP growth of 1.1% in 2026, rising to 1.6% in 2027 and 2028, and dropping to 1.5% in 2029 and 2030.

Government debt is forecast to be 83.2% of GDP this year, 83.8% next year, and then falling to 83.1%, 82.3% and 81.7% in the following years.

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© Composite: PA;EPA;Getty

© Composite: PA;EPA;Getty

© Composite: PA;EPA;Getty

All the major tax and spending policies as John Healey announces them