Healey’s attempt to provide ‘breathing space’ gives rich almost as much as poor, says Resolution Foundation

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John Healey delivered a “scattergun” budget that did little to boost living standards and left Britain facing “a painful second half” of the parliament, a leading economic thinktank has warned.

The Resolution Foundation said on Thursday that measures to ease household gas and electricity costs would still leave energy bills higher this year than during the last energy shock.

From a young chef and a single father to business owners and a pensioner, Guardian readers reveal how John Healey’s measures will affect them

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Louie, 24, a chef living in London, says a lot of people have “written off the idea of even considering getting a property” in their 20s.

Chancellor’s ‘new course’ includes a £100 one-off payment, low-carbon upgrade loans and an end to standing charges

John Healey has unveiled a package of support for households being buffeted by “global economic storms”.

“I’m setting a new course to get energy costs down in line with Europe,” the chancellor said in his maiden budget. In the long term, he hopes that changes in how Britain covers the cost of renewables and grid upgrades will “drive down all aspects of energy bills”.

Campaigners say costly new funds will lead to higher bills, which company denies

A group of creditors to troubled Thames Water are poised to vote on whether to grant an emergency £2.4bn loan to keep the company afloat, as campaigners raise concerns it could add £40 to each household’s bills in interest alone.

A consortium of creditors, called London & Valley Water, will vote on Thursday on whether to increase a funding facility for the debt-laden utility company to £5.4bn to keep it operating to autumn 2027.