UK chancellor Healey to veto offshore wind projects that won't cut bills

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Chancellor Healey says he will veto offshore wind projects that do not cut energy bills

On Friday, Chancellor John Healey said he will veto new offshore wind projects unless they lower energy bills, adding that clean power must proceed at the right pace with grid capacity. This follows his first budget on Wednesday, when the OBR sharply downgraded its 2027 growth forecast, citing the Middle East war. On Thursday, Healey backed away from cutting welfare costs this parliament, and the Institute for Fiscal Studies said the budget ducked big decisions amid a £28bn shortfall in public finances.

• The OBR cut its UK growth and living standards outlook, citing the impact of the Middle East war.
• The budget eased cost-of-living pressure for some groups, including pensioners, while banks and betting shops face higher payments.
• OBR documents suggest sickness and disability benefits will cost £100bn a year before the end of the decade.
• The IFS says the budget left a £28bn shortfall in public finances largely unaddressed.