Employment and Skills
- £100m across 2027/28 and 2028/29 expands local apprenticeship services from seven to 14 mayoral authorities, so every current mayor can support young people and employers.
- From 1 April 2027 the National Living Wage rises 3.9% to £13.21, the 18 to 20 rate to £11.27, and the 16 to 17 and apprentice rate to £8.31.
- At least 3% of the workforce on large government construction and infrastructure projects must be apprentices.
- The government will respond to the Milburn and Timms reviews before the end of the year, with a White Paper early in 2027.
Enterprise and Saving
- A new Young Entrepreneurs Allowance will be piloted in England, providing support towards living costs in the first year of a business.
- The trading allowance triples from £1,000 to £3,000 from April 2027.
- The planned cut to the cash ISA limit is scrapped, so it stays at £20,000.
Housing
- Your First Home, a £4.7bn equity loan scheme, will help around 70,000 households with a 20% loan and a 2.5% minimum deposit. Household income is capped at £110,000, or £140,000 in London, and price caps in London are £650,000 inner and £500,000 outer. Pre-registration opens by the end of December 2026 and the first loans are issued from April 2027.
- A First Time Buyer ISA replaces the Lifetime ISA for new savers from April 2029, with a 25% bonus on homes up to £450,000 and no withdrawal charge. From 29 October 2026 the Lifetime ISA charge on homes above that cap falls from 25% to 20%.
- A further £1.5bn goes to social and affordable housing, for around 10,000 homes, plus £432m across 2027/28 and 2028/29 to keep a route off the streets open for people sleeping rough.
Cost of Living
- The VAT cut on electricity is extended to 1 July 2027.
- A £100 Household Energy Payment goes to up to 20 million households in council tax bands A to D in England from January 2027.
- Gas standing charges are to be abolished, with delivery aimed for the end of 2027 or soon after.
Schools
£60m a year more for School PE and Sport partnerships from 2027.