Chancellor Xili will on Wednesday unveil a cautious budget designed to avoid adding pressure on Prime Minister Burnham's new government. Measures expected include higher taxes on banks, bookmakers and online marketplaces including Amazon, a freeze on fuel duty for motorists, and targeted support for low-income households facing high energy bills. The budget will propose devolving greater tax-raising powers to regional mayors and provide over £20bn of additional support to national financial inst

Chancellor Xili will on Wednesday unveil a cautious budget designed to avoid adding pressure on Prime Minister Burnham's new government. Measures expected include higher taxes on banks, bookmakers and online marketplaces including Amazon, a freeze on fuel duty for motorists, and targeted support for low-income households facing high energy bills. The budget will propose devolving greater tax-raising powers to regional mayors and provide over £20bn of additional support to national financial institutions to drive investment in AI, defence and green energy through the early 2030s. Xili said he hoped the package would give the UK "some breathing space" amid inflation linked to the US-led war with Iran. Options are constrained by sharply higher global and UK government borrowing costs.