Healey’s £1bn London office raid would be ‘attack on growth’ Property John Healey’s potential £1bn raid on London offices would be an “attack on growth” and deal a huge blow to the City, property firms have warned. The Chancellor is weighing up an increase to business rates for expensive office blocks and skyscrapers which would raise £1bn for the Treasury but disproportionately hit the capital’s business [...]
Healey plans £1bn e-commerce crackdown to fund retail tax breaks Retail John Healey is preparing to announce a £1bn tax crackdown on online marketplaces like Amazon and Temu to fund tax cuts for high street shops. At the Budget later this month, the Chancellor is expected to make e-commerce platforms like Amazon, Ebay and Temu responsible for collecting tax owed by the sellers using their site, [...]
We’ll cut Neet support if Healey hikes taxes, warns boss of B&Q owner Kingfisher Retail The boss of B&Q-owner Kingfisher has warned John Healey that the FTSE 100 firm may have to cut its support for unemployed young people if the Chancellor hikes taxes. Thierry Garnier, the retail group’s chief executive, wrote in City AM that the Chancellor must exempt shops from the highest bracket of business rates at the [...]
Midday Markets: The UK economy is a juxtapo-Britain October 13, 2026 The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the biggest stories in the City straight into your inbox every lunchtime. Today, Ali Lyon weighs up what Tuesday’s IMF report says about the state of the UK economy. Sign up to the City AM News Updates newsletter here. [...]
Retail sales ‘sluggish’ as shoppers feel cautious ahead of Budget October 13, 2026 British retail sales showed “sluggish” growth last month as shoppers became increasingly cautious ahead of the Autumn Budget. Total sales at retailers increased by 1.3 per cent in the 12 months to September, compared to 2.3 per cent growth in September 2025, according to the British Retail Consortium (BRC) and Big Four giant KPMG. The [...]
One pub shuts every day as Burnham tax cuts ‘not enough’ October 12, 2026 A pub is set to have closed its doors every day this year, as hospitality leaders say Andy Burnham’s tax cuts for hospitality have not gone far enough. About 360 pubs are expected to have called last orders in the whole of 2026, with 295 watering holes having shut for good so far this year, [...]
Fiscal drag to the rescue – but Healey still faces £35bn inflation headache October 12, 2026 Soaring inflation could force the Chancellor to commit to more government spending and tax hikes, posing a worse Budget headache than a narrowing fiscal headroom, a top think tank has warned. John Healey might have to top up department budgets by as much as £35bn by the end of the decade to stop the real-terms [...]
Healey rules out expanding mansion tax to £1.5m homes October 11, 2026 John Healey has ruled out widening Labour’s so-called mansion tax to cover homes worth £1.5m, following warnings that the tax change would hammer middle-class homeowners in the capital. The Chancellor had been considering widening its council tax surcharge to cover homes valued at £1.5m or more, as the Treasury seeks extra revenue to fund cost [...]
Economy set to shrink ahead of Budget in ‘difficult’ outlook October 11, 2026 The UK economy is expected to have shrunk in August, despite hopes that the stronger-than-expected growth seen in June and July would continue. The latest gross domestic product (GDP) data, which will be released on Thursday, is expected to show a contraction of 0.1 per cent in August, according to City economists polled by Bloomberg. [...]
Retail bosses ramp up pressure on Healey to cut ‘ridiculous’ tax burden October 11, 2026 The bosses of Marks & Spencer and John Lewis have piled further pressure on the government to slash the “ridiculous” tax burden facing high street firms. Stuart Machin, chief executive of M&S, called on Chancellor John Healey to “restore hope” within the retail industry by turning a corner from Labour’s last two budgets, which he [...]