The Aporia
The Aporia
Lynch, D. (2026, October 20). John Healey rejects calls to raise capital gains tax at the Budget. Evening Standard. https://www.standard.co.uk/business/business-news/john-healey-andy-burnham-government-kemi-badenoch-budget-b1301528.html
Lynch, David. “John Healey rejects calls to raise capital gains tax at the Budget.” Evening Standard, 20 Oct. 2026, https://www.standard.co.uk/business/business-news/john-healey-andy-burnham-government-kemi-badenoch-budget-b1301528.html.
Lynch, David. “John Healey rejects calls to raise capital gains tax at the Budget.” Evening Standard, October 20, 2026. https://www.standard.co.uk/business/business-news/john-healey-andy-burnham-government-kemi-badenoch-budget-b1301528.html.
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John Healey, Britain's Chancellor of the Exchequer, rejected calls to raise capital gains tax (CGT) ahead of his October 28 Budget statement. Prominent Labour figures like Louise Haigh and Wes Streeting had previously supported raising CGT, but concerns were raised that such a move could cost the government money if wealthy individuals left the country or delayed selling assets. Lord Jim O’Neill, who has advised Prime Minister Andy Burnham and worked on the Northern Powerhouse project, warned that increasing CGT would send "the wrong message to business." Instead of raising CGT, Healey plans to increase taxes on bank profits, with a reported target to generate funds for cost-of-living support. The move follows warnings from cabinet ministers about potential economic harm if CGT were raised.
In a speech on Tuesday, she will urge Mr Burnham and his Chancellor to “live within our means”, and signpost the Tories’ package worth £70bn of cuts to spending – including to welfare and the Civil Service headcount – as a place to start.
