Chancellor John Healey is preparing to set out the Government’s tax and spending plans in his first-ever Budget.

From possible tax changes to help for first-time buyers, there is plenty to watch out for.

Mr Healey has promised to use his first Budget to move to cut energy bills “for good” as the Government seeks to ease surging costs for households and businesses.

The Chancellor is expected to announce a freeze in fuel duty as well as plans for longer-term reforms, as he said his focus would be on making Britain “more resilient” to global shocks in the wake of the Iran war.

In a video message before he delivers the autumn statement on Wednesday, Mr Healey acknowledged the country was facing a “difficult moment” and promised changes would be made “responsibly” within Labour’s fiscal rules.

He said: “Breathing space for today and fresh hope for the future. That’s what today’s Budget will deliver.

“The world’s a highly uncertain place. Conflicts abroad are pushing up energy prices, and the cost of living here at home is piling pressure on families, on businesses, and on our public finances.

“But Britain’s economy is showing real signs of resilience: investments up, productivity is growing, and we had the joint fastest growth in the G7 in the first half of this year.”

Mr Healey added: “This Budget is designed to give households breathing space from some of the everyday costs, provide targeted support for businesses and self-employed people, and to start the long-term action needed to get energy costs down for good.”

Prime Minister Andy Burnham has also ordered the Chancellor and Energy Secretary Miatta Fahnbulleh to examine scrapping standing charges from gas bills.

According to the Times, the Chancellor will announce plans for the scrapping of green levies from energy bills and putting them onto general taxation, as well as committing the Government to delinking gas and electricity prices.