The British government announced on Wednesday, November 6, to reduce the pressure of rising energy prices following the Iran war, to pay 20 million eligible households a financial aid of £100 and to extend the reduction of the value added tax on electricity until July 2027. The British finance minister, John Healy, said that the war in the Middle East and the increase in energy costs exerted significant pressure on household budgets and the economy. "I know that with the ongoing conflict in the Middle East, rising energy bills are a real concern for people," Haley said. He added that the government's goal with these measures is to reduce the financial pressure on families. Under the plan announced, households in tax groups A to D in England will receive £100 from January 2027. The extension of the electricity tax cut should also reduce the annual cap on energy prices by around £50. Britain's Chancellor of the Exchequer said oil prices had risen from about $70 to more than $100 a barrel, and gas prices had nearly tripled since February. Haley also announced that the government has used some of its financial capacity to absorb the economic consequences of the Iran war and support households and the economy.

The British government announced on Wednesday, November 6, to reduce the pressure of rising energy prices following the Iran war, to pay 20 million eligible households a financial aid of £100 and to extend the reduction of the value added tax on electricity until July 2027. The British finance minister, John Healy, said that the war in the Middle East and the increase in energy costs exerted significant pressure on household budgets and the economy. "I know that with the ongoing conflict in the Middle East, rising energy bills are a real concern for people," Haley said. He added that the government's goal with these measures is to reduce the financial pressure on families. Under the plan announced, households in tax groups A to D in England will receive £100 from January 2027. The extension of the electricity tax cut should also reduce the annual cap on energy prices by around £50. Britain's Chancellor of the Exchequer said oil prices had risen from about $70 to more than $100 a barrel, and gas prices had nearly tripled since February. Haley also announced that the government has used some of its financial capacity to absorb the economic consequences of the Iran war and support households and the economy.