UK Finance Minister John Healey delivered his first fiscal budget on Wednesday, announcing measures to ease cost-of-living pressures, including removing standing charges on household gas heating bills and extending electricity tax breaks. The budget also raises the bank surcharge by 3% to 6%, injects £10 billion in additional economic and military support for Ukraine, and provides hundreds of millions of pounds for AI security and sovereignty. The Office for Budget Responsibility (OBR) forecasts £15 billion fiscal headroom by 2029/30, with national debt peaking at 83.8% of GDP next year before declining. Following the announcement, the benchmark 10-year gilt yield fell 2 basis points to 5.323%, while Sterling was marginally lower against the U.S. dollar and 0.2% lower versus the euro.