John Healey has promised to use his first Budget to move to cut energy bills “for good” as the Government seeks to ease surging costs for households and businesses.
The Chancellor is expected to announce a freeze in fuel duty as well as plans for longer-term reforms, as he said his focus would be on making Britain “more resilient” to global shocks in the wake of the Iran war.
In a video message before he delivers the autumn statement on Wednesday, Mr Healey acknowledged the country was facing a “difficult moment” and promised changes would be made “responsibly” within Labour’s fiscal rules.
The Chancellor is facing an uncertain economic backdrop ahead of his first Budget in the role, amid a challenging remit to balance the country’s finances while supporting Britons facing cost-of-living pressures.
He said: “Breathing space for today and fresh hope for the future. That’s what today’s Budget will deliver.
“The world’s a highly uncertain place.…