Budget 2026: Healey grants HMRC sweeping powers to chase tax debts Tax John Healey has given HM Revenue and Customs (HMRC) more funding and sweeping powers “to collect overdue tax from those who can clearly afford to pay but ignore repeated contact”, in yet another clampdown on tax debts. The move marks a major expansion of the taxman’s power and comes amid the government’s push to stamp [...]
Budget 2026: Healey reverses Reeves’ cash Isa cut Personal Finance John Healey has scrapped plans to slash the cash Isa allowance in his maiden Budget, ending the controversial measure introduced by his predecessor. Healey has confirmed the ceiling on the savings product will remain unchanged at £20,000 instead of being cut to £12,000 from April 2027. The cutting of the allowance was designed by former [...]
Budget 2026: Healey doubles bank tax to fund energy package Banking John Healey has confirmed a “time limited” tax hike on the UK banking sector as a means to fund the government’s energy support package. The Chancellor will double the surcharge, which sits on top of corporation tax, to six per cent. The increase will begin in January and continue for 15 months. “I want to [...]
Healey’s cash Isa reversal plans spark City row October 28, 2026 John Healey’s reported plans to reverse the cut to the cash Isa ceiling in his maiden Budget have sparked a row across the City, as banks and brokers butt heads over the end of the controversial measure introduced by his predecessor. The Chancellor will end plans to lower the annual cash Isa limit from £20,000 [...]
Budget 2026 Live: Healey introduces pension tax allowance and lays out bank surcharge plans October 28, 2026 Welcome to City AM‘s Budget liveblog. The Chancellor has delivered his Budget speech in the House of Commons. John Healey announced a range of measures to tackle the cost of living but the market will keep a close eye on his tax and spending plans as the government looks to balance the books. Healey has [...]
Jobs apocalypse: Britain’s biggest firms cut more than 130,000 roles in two years October 28, 2026 Britain’s biggest businesses have axed more than 130,000 jobs over the past two years, a City AM analysis has found, laying bare the scale of pressure facing firms amid surging employment costs and the growing tide of automation. The analysis compiled more than 250 separate media reports of layoffs, job cuts and company administrations at [...]
Budget 2026: Will the real John Healey please stand up? October 27, 2026 John Healey is set to deliver his first Budget although business chiefs, trade unionists and bond traders are still unsure of what to expect. Maurício Alencar reports on whether he can assert his authority on Wednesday. In the period between Sir Keir Starmer leaving Number 10 and Andy Burnham taking over, ambitious Labour figures vied [...]
The anatomy of a bank tax: what can the UK learn from Europe? October 26, 2026 With days to go until John Healey delivers a Budget expected to target banks with a cash raid, Samuel Norman looks at the UK bank tax framework and other experiments across Europe. For years City lobbyists managed to bat away demands for a bank tax hike. As Chancellor, despite delivering two tax-heavy Budgets, Rachel Reeves [...]
Financial advisers feel the effects of Reeves’ final tax raid as Healey’s Budget looms October 26, 2026 Financial advisers are feeling the effects of Rachel Reeves’ final Budget, as families brace for billions of pounds of tax rises regardless of what chancellor John Healey announces at the despatch box later this week. From April next year, the sweeping shake up to the tax system announced by Reeves in 2025 will come into [...]
Healey’s startup adviser quits ahead of Budget over ‘sideshow’ treatment of entrepreneurs October 25, 2026 The Treasury’s entrepreneurship adviser is stepping down after accusing ministers of treating Britain’s fastest-growing companies as a “sideshow” while directing taxpayer money towards traditional industries. Alex Depledge, appointed by former chancellor Rachel Reeves in June 2025, will leave the role on Thursday, a day after John Healey delivers his first Budget. “Keeping scale-ups on the [...]