Stories

Mon, 28 Sep 2026

Mon, 28 Sep 2026 What is the Budget and what could be in it?

Chancellor John Healey will set out his plans for UK taxes in October.
Key areas to be addressed include: - Fuel duty: Healey has hinted that he may extend the freeze, which is currently set to end in September. - Capital Gains Tax: There are speculations that rates could be increased or exemptions changed. - Mansion Tax: The government may consider extending it to properties valued at over £1.5m instead of £2m. - Taxes on banks: Analysts suggest that banks' profits and the impact on growth make this an area for potential changes. Healey faces a challenging balancing act between supporting households, meeting defence commitments, and adhering to Labour's manifesto pledges and fiscal rules. The Office for Budget Responsibility (OBR) is expected to publish its assessment of the UK economy's health and forecast for future developments alongside the Budget. In related news, more details on the "Your First Home" scheme are expected in the Budget, which will provide a loan worth 20% of a property's value to first-time buyers with a deposit as low as 2.5%.