Personal allowance hike on the menu at October Budget September 24, 2026 The Chancellor is weighing up proposals to raise the personal allowance at next month’s Budget in what could be the biggest shake-up to income tax rules in years. John Healey is reportedly considering unfreezing the income threshold at which earners start paying tax from £12,570 to as much as £15,570. The unfreezing would be the [...]
OBR chief: Public ‘have not lowered their expectations about what the state can do’ September 24, 2026 A top economist at the Office for Budget Responsibility (OBR) has sent a warning on the effect more tax rises could have on growth and on the public’s expectations about “what the state can do for them”. Professor David Miles, who is one of three top members at the independent fiscal watchdog, said that the [...]
Healey plan to slash headroom would ‘not be received well’ by nervous bond market September 24, 2026 John Healey’s reported plans to slash the breathing space the government has before it breaks its spending rules would spark a negative bond market reaction and lead investors to question the country’s commitment to fiscal credibility. Bond traders told City AM that any attempt to significantly reduce its so-called fiscal headroom would leave the country [...]
Autumn Budget: Healey weighs slashing fiscal headroom to reduce tax hikes September 24, 2026 Chancellor John Healey is debating accepting a smaller fiscal buffer in order to reduce tax hikes in next month’s Autumn Budget. The Treasury and No 10 are in active discussions over whether to set a lower buffer in the Budget than the Office for Budget Responsibility set in March, according to reports in the Financial [...]
Treasury’s new Head of Growth will have their work cut out September 24, 2026 Do you want the good news or the bad news? Trick question, I’m afraid. There is no good news. The Organisation for Economic Co-operation and Development (OECD) has revised its forecast for UK economic growth this year from 0.9 per cent to 1.1 per cent, but – before you reach for the champagne – they’ve [...]
Burnham urged to boost West End with tax cuts and extra policing September 24, 2026 The West End risks losing its status as one of the world’s best shopping and hospitality destinations without immediate action to cut tax and boost policing, Andy Burnham has been warned. The New West End Company (NWEC), which represents 800 businesses involved in the world-famous district, has urged the government to slash business rates and [...]
Healey urged to cut business costs as consumer confidence slips September 24, 2026 Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning that consumer confidence will continue to stumble without urgent action. The British Retail Consortium (BRC), which represents top retailers like Tesco, Sainsbury’s and Marks and Spencer, has urged the Chancellor to tackle the “triple blow” [...]
UK growth set to slow in 2027, OECD says September 23, 2026 The UK economy will grow slower than expected next year as the effects of a long Iran war drag on activity, the world’s leading economic forecaster has said. The Organisation for Economic Co-operation and Development (OECD) predicted that the UK economy would grow by just one per cent next year, marginally down from a previous [...]
Baker Tilly chief warns Budget may carry ‘pain cost’ for businesses bracing tax changes September 23, 2026 The chief executive of professional services giant Baker Tilly International has warned the upcoming Budget will likely carry a heavy “pain cost” for UK businesses bracing for tax changes. “It’s going to be a ride, isn’t it,” Francesca Lagerberg, Baker Tilly International‘s chief executive told City AM. “The mood music is that it won’t be [...]
Reeves’ ‘ambitious’ £14bn savings plan leaves Healey with a Budget headache September 23, 2026 Cost saving measures pencilled in by the last government have dramatically reduced Chancellor John Healey’s ability to look for spending cuts and efficiency gains at his first Budget, economists have warned, raising the prospect of fresh tax hikes. Healey is under pressure to rebuild his £23.6bn fiscal buffer, which is predicted to shrink due to [...]