Budget 2026 latest: Chancellor Healey to cut food costs in bid to deliver ‘everyday fixes’
Chancellor John Healey has announced plans to remove import tariffs on more than 100 products, including supermarket staples, ahead of Wednesday’s Budget. The measures are presented as “everyday fixes” intended to ease pressure on households and businesses.
The tariff changes cover items such as baked beans, gherkins, chocolate, jams, garlic, kerosene and fertilisers. Healey also plans to make the 55p-per-mile tax-free mileage rate permanent and extend parental pay to more than 150,000 additional parents a year, including self-employed fathers and partners. Separately, the Tony Blair Institute has urged the Government to prioritise cheaper energy, while an Ipsos poll puts Labour on 32 per cent, eight points ahead of the Conservatives.
In short
- Import tariffs on more than 100 products are set to be removed.
- Parental pay will reach over 150,000 more parents each year.
- The Tony Blair Institute calls for a stronger focus on cheaper energy.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Removing tariffs on everyday goods could lower costs for importers and, if savings are passed on, help households facing high food bills. Making mileage relief permanent and extending parental pay could also give workers and families more predictable support, while offering businesses a clearer basis for planning.
The case against
Tariff removal may not translate into lower prices if retailers or suppliers retain the savings, and the budgetary cost or effects on domestic producers may outweigh the benefit. Critics could also argue that mileage and parental-pay measures are limited reliefs that leave wider pressures, such as energy costs, largely untouched.