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Healey Sets October 28 Budget With £1B VAT Crackdown

By Drooid · Oct 25, 2026, 10:30 PM UTC · How we work

Summary

Story summary

Chancellor John Healey imposed defence-style security protocols on the 2026 Autumn Budget.
He set the Budget for 28 October, a month earlier than the previous year.
The Budget raises taxes on banks and funds a £1 billion online VAT crackdown.
Healey added several billion pounds of defence spending for the British Business Bank.
He announced £1.5 billion borrowing for local authorities, £1 billion for social housing, and ruled out a capital gains tax increase.

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Story summary

Chancellor John Healey imposed defence-style security protocols on the 2026 Autumn Budget.
He set the Budget for 28 October, a month earlier than the previous year.
The Budget raises taxes on banks and funds a £1 billion online VAT crackdown.
Healey added several billion pounds of defence spending for the British Business Bank.
He announced £1.5 billion borrowing for local authorities, £1 billion for social housing, and ruled out a capital gains tax increase.