Story perspectives

Healey Drops Capital Gains Tax Rise From Autumn Budget

By Drooid · Oct 20, 2026, 2:06 PM UTC · How we work

Center

Revenue Maximising CGT Rate

Labour Chancellor John Healey announced on 20 October 2026 that the Autumn Budget will not include a capital gains tax increase.
Former Conservative Chancellor Sir Jeremy Hunt said equalising capital gains tax with income tax is a non-starter, arguing 24 percent is the revenue-maximising rate.
HM Revenue and Customs estimated a 10-point CGT rise would cut Treasury receipts by £3.6 billion in 2028-29 due to behavioural impacts.

Left

Wealth Tax Stalled

Labour Chancellor John Healey announced on 20 October 2026 that the Autumn Budget on 28 October 2026 will not raise capital gains tax.
His decision leaves the proposed wealth-tax equalisation for earned and unearned income unfulfilled, despite Labour colleagues urging it to curb rising inequality.
Treasury warned a CGT rise could push wealthy people to defer sales, reducing revenue.
Leader Kemi Badenoch said will push spending cuts, accusing Labour of borrowing to service interest.

Blindspot

Healey said the budget will target banks’ profits, noting the four largest lenders earned £200 billion in pre-tax profit over five years.
Within this story's sources, this angle appears mainly in Left-leaning coverage and receives less attention in Center-leaning coverage.

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Revenue Maximising CGT Rate

Labour Chancellor John Healey announced on 20 October 2026 that the Autumn Budget will not include a capital gains tax increase.
Former Conservative Chancellor Sir Jeremy Hunt said equalising capital gains tax with income tax is a non-starter, arguing 24 percent is the revenue-maximising rate.
HM Revenue and Customs estimated a 10-point CGT rise would cut Treasury receipts by £3.6 billion in 2028-29 due to behavioural impacts.

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