People in Portsmouth will see important reductions made to their cost of living, through plans announced at the Autumn Budget this week.
Throughout her Budget statement, the Chancellor of the Exchequer Rachel Reeves reaffirmed this Government’s commitment to improving the living standards of everyone, in every part of the UK.
To accomplish this, this Government has continuously supported the Bank of England to bring down inflation and improve the cost of living for working people since coming into office.
A significant element of this Government’s approach to improving living standards has been helping to ease cost of living pressures at its source by targeting everyday expenses.
Many of the recent measures taken to target expenses were discussed and announced by the Chancellor within the Budget, including:
- Saving British households £150 on average on their energy bills from April 2026, by removing some levies from energy bills
- Expanding the Warm Home Discount, meaning that 6 million households will receive an additional £150 off their energy bills
- Introducing the first freeze to nationally regulated rail fares in 30 years
- Introducing a one-year cash freeze on NHS prescriptions, saving patients around £12 million next year
- Extending fuel duty freeze until the end of August 2026 across the UK and introducing Fuel Finder, saving households £89 next year compared to previous plans
- Enacting the Renters’ Rights Act 2025, empowering tenants in England to challenge unreasonable rent increases so landlords stop charging above the market rate.
- Accepting the recommendations of the Low Pay Commission in full and increase the minimum wage for 18-20 year olds from £10 to £10.85 per hour and the living wage from £12.21 to £12.71 per hour.
- Increasing the state pension by 4.8%, in line with our commitment to the triple lock
These measures will contribute significantly towards the average cost of living, for both individuals and families across Britain. Residents within Portsmouth will be granted much needed breathing room by the proposed reductions to living costs.
Commenting on cost of living measures, Stephen Morgan MP for Portsmouth South said:
“This was a Labour budget driven by Labour values, making fair and necessary choices on the issues of concern for Portsmouth people.
“People should not have to make difficult decisions about fundamental living costs, and this Government understands this.
“I am glad to see many reassuring measures such as cutting the cost of energy bills alongside freezing of prescription charges and train fares that will give Portsmouth people important breathing room.”
Discussing this Government’s cost of living measures, Chancellor of the Exchequer Rachel Reeves said:
“Delivering on our promise to make people better off is not possible if we don’t get a grip on inflation.
“It is a fundamental precursor to economic growth. It is essential to make families better off and for businesses to thrive.
“There is an urgent need to ease the pressure on households now.
“I said I would cut the cost of living, and I meant it. This Budget will bring down inflation and provide immediate relief for families.”
