The Chancellor announced a £100 Household Energy Payment for eligible households in England in Council Tax bands A–D from January 2027, funded through a temporary increase in taxes on banks.
An estimated 41,370 properties in the Cambridge parliamentary constituency fall within these bands, representing approximately 78% of homes.
The Budget also extends the removal of VAT from domestic electricity bills until July 2027, provides an additional £100 million nationally to support households struggling with energy costs, and sets out reforms to energy standing charges.
Daniel Zeichner MP said:
"I know that many households in Cambridge are still struggling with the cost of living, and I am pleased that the Government is taking further action to help.
"With around 78% of homes in my constituency potentially eligible for the £100 energy payment, this is welcome support for thousands of local families. I particularly welcome the decision to fund it through a temporary increase in taxes on banks. It is right that those with the broadest shoulders should contribute more.
"We also need to bring energy bills down for the long term, and making clean electricity more affordable is good for household finances, our energy security and the environment."
The Budget also includes £215 million in government financing and grants for the Greater Cambridge Development Corporation, comprising £105 million in repayable finance and £110 million in capital grants to support housing and infrastructure.
The Government will also continue working with the Combined Authority on a proposed Business Rates Retention Zone for the Cambridge Biomedical Campus from 2028.
Speaking in the House of Commons following the Budget statement, Mr Zeichner welcomed the new financial flexibility for the Development Corporation and measures to support innovation, highlighting Cambridge's position as Europe's leading innovation cluster.
