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Healey unveils £100 for energy bills and bank tax in first Budget

The chancellor targets the cost of living amid global economic turmoil but opposition parties say he has not been bold enough.

BBC Business•

Millions of households will get £100 to help with soaring energy bills to be paid for by a tax on bank profits, John Healey has announced in his first Budget.

The chancellor said he wanted to give hard-pressed families "breathing space now" and "hope for the future" as the UK economy is battered by "global economic storms".

He also unveiled tax breaks to boost high street businesses - but confirmed that many big decisions, including on defence spending and welfare, will not be made until next year.

"Those are the storms we face. We can't wish them away. We must choose the course we steer through them," he told MPs.