Healey plots Budget raid on family businesses October 19, 2026 John Healey has reportedly drawn up plans for a tax raid on family businesses ahead of his first Budget, as he scrambles to avoid spending cuts. The Chancellor is considering proposals to levy income tax when business owners hand their company down to their children, potentially almost doubling the tax bill, according to a report [...]
What could a bank tax raid mean for JP Morgan’s Canary Wharf mega-tower? October 16, 2026 When Jamie Dimon and John Healey first exchanged remarks, the world’s most influential banker told the Chancellor how important it was to get public policy right. The Wall Street chief is understood to have said the right public policy was the key to solving the issues facing global economies, according to those close to the [...]
Lloyds and Barclays shares fall as Healey ‘poised’ to hike bank tax October 16, 2026 Shares in Britain’s banking giants tumbled this morning after new reports suggested John Healey is set to raise taxes on lenders when he delivers his first Budget at the end of the month. Natwest dropped two per cent to 660.40p, while Lloyds was down around 2.5 per cent to 103.40p. Barclays slid 0.4 per cent [...]
Healey’s £1bn London office raid would be ‘attack on growth’ October 15, 2026 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 [...]
Midday Markets: Is the UK economy ‘back’? October 15, 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, assesses whether August’s positive GDP figures are a sign of a revival in the UK economy. Sign up to the City AM News Updates [...]
Healey promises Budget will ‘meet the moment’ October 15, 2026 Chancellor John Healey has promised that the Budget will “meet the moment” as rising costs are set to hamper households and businesses over the next few months. In interviews in Bangkok for the International Monetary Fund’s meetings, Healey said he had acted from “week one” to relieve pressures facing businesses and households with a blitz [...]
UK economy slows yet beats expectations October 15, 2026 The UK economy slowed in August but beat market expectations after a boost in the production sector, according to official statistics. GDP expanded by 0.1 per cent in August following several months of high growth. A poll of economists by Bloomberg predicted that the UK economy had contracted by 0.1 per cent in August. Figures [...]
Entain and Rank warn Budget tax hikes threaten betting shops and jobs October 15, 2026 Two of Britain’s biggest gambling operators have warned John Healey that further tax increases in this month’s Budget could force betting shops and casinos to close, putting jobs and investment at risk. Entain, the owner of Ladbrokes and Coral, and Rank Group, which operates Grosvenor Casinos and Mecca Bingo, issued separate warnings on Thursday despite [...]
Healey told to cut employment taxes and energy bills to boost business October 15, 2026 Britain’s biggest business lobby group has urged John Healey to cut employment taxes and energy bills in his first Budget, warning that further tax rises risk choking off investment and jobs. The Confederation of British Industry (CBI) called on the Chancellor to give firms “breathing space” at the Budget on 28 October, as businesses grapple [...]
Tories to warn Burnham on ‘bending to left’ on bank tax raid October 14, 2026 Kemi Badenoch is expected to fire a bank tax warning shot to the Labour government on Thursday during a visit to Edinburgh. The Conservatives will warn Andy Burnham against “bending the knee to left-wing backbenchers and trade union paymasters,” as the pre-Budget debate heats up. It follows the banking sector swinging into defence mode ahead [...]