Here is what the page “Healey Rules Out Capital Gains Tax Rise in First Budget, Badenoch Warns of Spending Crisis” contains. Chancellor John Healey has decided against raising capital gains tax in his first budget, according to a Times report by Steven Swinford. The move comes despite pressure from senior cabinet ministers and allies of Andy Burnham, who argued that a hike on second homes, shares, and other assets could help repair public finances. Healey reportedly ruled out the increase after warnings that it might backfire, prompting wealthy individuals to leave the UK or defer asset sales, ultimately costing the government revenue.
The decision removes a key potential revenue stream as the chancellor prepares to deliver his budget on the 30th of October. Meanwhile, Conservative leader Kemi Badenoch is set to give a speech later today, in which she is expected to argue that Healey's budget will be worse than that of his predecessor, Rachel Reeves, unless he makes significant spending cuts. The full version stays on the original page, which this listing opens directly.