‘Bonkers’ founders’ relief criticised over rules that could punish startup growth Business John Healey’s flagship tax break for entrepreneurs has been branded “bonkers” by leading economists, who warn its restrictive rules could punish startup growth and encourage founders to make decisions that damage productivity. The new Founders’ Relief offers a 10 per cent capital gains tax rate on up to £10m of lifetime gains, but its complex [...]
HMRC coming for footballers and will scour Instagram for tax intel Sport Business Buried away in the documents released alongside the Budget was a new report published by HMRC that reveals sports professionals and those involved in professional football such as players and agents are to become even more of a focus area for the Treasury. Coupled with the Chancellor’s announcement of new investment in HMRC compliance activity [...]
Budget 2026: Healey faces ‘£11bn hole’ as growth slashed and inflation to rise higher Economics Britain’s fiscal watchdog has predicted that growth will slump and joblessness and inflation will surge in the coming years, as they warned John Healey will have to find billions of pounds more revenue between 2029 and 2032 in order to prevent cuts to government spending. The Office for Budget Responsibility said the Chancellor would need [...]
Tech bosses warn Chancellor UK risks surrendering to foreign AI giants October 26, 2026 Britain risks becoming dangerously dependent on foreign tech giants unless the government develops a comprehensive strategy for its own AI, industry leaders have warned the Chancellor ahead of his Budget on Wednesday. UKAI, which represents more than 270 AI businesses, has urged John Healey to commit substantial funding to a national sovereign AI strategy, warning [...]
Healey to unveil billions in defence spending as Tories demand he resign October 25, 2026 John Healey is set to announce billions of pounds in new defence investment in Wednesday’s Budget as the Conservatives demand he resign unless he commits to spending three per cent of GDP on the military by 2030. The chancellor is expected to channel additional funding through the National Wealth Fund and British Business Bank, backing [...]
Healey vows AI will not ‘leave workers behind’ in £600m Budget package October 24, 2026 John Healey has vowed not to let AI “leave workers behind” as he unveiled more than £600m in investment ahead of next week’s Budget, amid mounting concerns over AI-driven job losses. The Treasury will commit £10m a year to studying the impact of AI on employment, alongside hundreds of millions of pounds for cyber security, [...]
Healey moves to slash red tape and save firms £800m a year October 23, 2026 Chancellor John Healey has said a package to streamline regulation on reporting requirements as well as further tariff reductions will save businesses around £800m a year. In a pre-Budget announcement to offer “breathing space” to businesses, Healey confirmed that the government would make reporting requirements for firms and asset managers easier. The changes on reporting [...]
Ex-cost of living adviser Richard Walker demands ‘aggressive’ tax reform October 21, 2026 Lord Richard Walker, the Iceland boss who advised the Sir Keir Starmer government on the cost of living, has called on Andy Burnham and John Healey to unleash “aggressive” tax reform to encourage firms to invest and hire more young people. In a paper for the Blairite think tank Progress, Walker made a series of [...]
Bank of England set to overshadow Healey’s Budget with interest rate hike October 21, 2026 The Bank of England is expected to overshadow John Healey’s maiden Budget with a “done deal” interest rate hike aiming to tame soaring inflation while risking economic growth. Top City economists predict the central bank’s Monetary Policy Committee (MPC) will raise the base rate at its November meeting, just one week after the Autumn Budget. [...]
UK debt pile exceeds £3 trillion one week before Healey’s Budget October 21, 2026 The size of the UK public debt topped £3 trillion in September for the first time in official data released one week before John Healey’s Budget. The major milestone reflects the difficulties facing the Chancellor ahead of his maiden fiscal statement. As a share of GDP, public sector debt stood at 94 per cent, about [...]