New Delhi, Oct 30 (PTI) A majority of British households will soon benefit from new government initiatives aimed at reducing energy costs and tackling ongoing cost-of-living challenges across the country, according to the UK's top diplomat in India.

    Ben Mellor, the Acting British High Commissioner, shared these observations regarding the UK budget during a conversation with PTI in New Delhi on Thursday.

    "Most households in the UK will benefit from 100 pounds off their energy bills next year," Mellor said while outlining the measures announced by Chancellor John Healey, who presented the Budget on Wednesday.

    The Budget includes a 100 Great British Pound (GBP) Household Energy Payment for up to 20 million households, an extension of the temporary Value Added Tax cut on electricity until July 2027.

    Mellor said the Chancellor had announced steps to help the British economy deal with the fiscal situation, as well as economic headwinds arising from global uncertainty and the conflict in West Asia.

    Besides ensuring the economy remains on a strong footing through tight fiscal rules, the government has taken measures to provide households with "breathing space" amid cost-of-living pressures, particularly by addressing high energy costs.

    The Budget comes at a time when cost-of-living concerns have emerged as a major issue across Europe, with protests in several countries, including France, Italy, Belgium and Portugal, over rising living costs and other economic and social grievances.

    Asked whether Britain had sufficient fiscal room to deal with another economic shock amid global uncertainty, Mellor pointed to the government's efforts to maintain fiscal discipline and create a buffer against future pressures.

    Healey also extended fuel-duty relief through the winter and spring, retained the GBP 20,000 annual tax-free cash Individual Savings Account (ISA) limit and announced plans for a new "Starter ISA" aimed at first-time investors.

    To help fund the energy support measure, the government will temporarily increase the Bank Corporation Tax Surcharge from 3 per cent to 6 per cent for 15 months from January 2027.

    The Budget also provides measures aimed at supporting wages, housing, high streets and businesses while increasing defence spending.

(This story has not been edited by THE WEEK and is auto-generated from PTI)
Disclaimer: Comments posted here are the sole responsibility of the user and do not reflect the views of THE WEEK. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.