UK Chancellor John Healey outlines energy reforms in 2026 budget

UK Chancellor John Healey announced a new course on energy for the country on October 28, 2026, during his first budget speech. Carbon Brief, the London Evening Standard, and UK Investor Magazine all reported that the chancellor laid out a series of tax and spending measures designed to manage public finances and address rising living costs. [1][5][6]

The energy policy changes aim to keep household bills low during an ongoing global crisis triggered by conflict in the Middle East. Carbon Brief reported that Chancellor Healey promised radical reform to break the grip of gas on energy bills while introducing short-term support measures for consumers. [1]

Despite economic pressures, the government plans to maintain its long-term decarbonisation targets. Carbon Brief reported that the chancellor stated the Labour administration remains unshakably committed to net zero emissions and will continue to prioritise the expansion of clean power infrastructure across the country. [1]