Chancellor prepares Autumn Budget with tax rises expected

Summarised from 2 outlets · Updated 19 Oct, 08:56 · Archive

Chancellor John Healey will announce his first Autumn Budget on 28 October with potential changes to pensions, inheritance tax and fuel duty.

Chancellor John Healey will present his first Autumn Budget on 28 October. The announcement is expected to include decisions on pensions, inheritance tax, fuel duty and 'fiscal drag', where frozen income tax thresholds have pulled more people into paying tax.

A finance expert from Investing Insiders has advised people to prepare for potential changes ahead of the Budget. With fuel costs rising and a temporary fuel duty cut set to phase out, the chancellor may freeze fuel duty to help keep prices down, according to the specialist.

The Centre for Policy Studies has warned that if the chancellor introduces a wealth tax, the UK would rank last among 38 OECD countries for property ownership competitiveness. The think tank stressed that the UK already ranks 30th out of 38 OECD nations for tax system competitiveness. The chancellor is reportedly considering raising capital gains tax, though not aligning it with income tax rates.

How it is being reported

• Budget 2026: Wealth tax would make London 'worst place' among well-off countries to own propertyChancellor John Healey is expected to raise taxes in the Budget on October 28Evening Standard · 19 Oct, 08:34
• Finance expert warns of mistake 'you may regret' ahead of John Healey's Autumn BudgetChancellor John Healey will announce his first Autumn Budget later this month with areas including pensions, Inheritance Tax and fuel duty all in the spotlightThe Mirror · 18 Oct, 07:20

In this story: John Healey · Andy Burnham · Labour Party · Centre for Policy Studies · UK · OECD

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