Healey Rules Out Capital Gains Tax Hike Ahead of Budget
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- 3
- Developments
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- Repetition
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New informationRepeats or wire copies
What happened
John Healey announced that the Treasury will not increase the capital gains tax levy in the upcoming Budget on October 28. This move comes as Ipsos conducted polls assessing public views on Healey's economic test and expectations for Andy Burnham's Budget. Despite ruling out CGT hikes, speculation suggests Healey may target banks to find funding for Andy Burnham's pledges.
From dailymail.com
Why it matters
The decision to avoid raising capital gains tax aims to ease anxiety among firms that have already faced tax raids and minimum wage increases. However, economists note that while higher inflation could help the government balance its books, it would also strain public services and negatively impact families.
From dailymail.com
Who's involved
- John HealeyChancellor of the Exchequer, who ruled out hiking capital gains tax.
- Andy BurnhamPolitician whose pledges may require new funding sources.
- IpsosMarket research firm that conducted polls on public economic expectations.
- civil serviceBranch of governmental service facing potential cuts.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Lloyds Banking GroupSpeculative
Lloyds Banking Group might face increased costs due to expected tax measures targeting the banking sector.
- BarclaysSpeculative
Barclays might face increased costs due to expected tax measures targeting the banking sector.
- civil serviceSpeculative
The civil service might face reduced funding and headcount due to planned cuts.
- London Stock ExchangeSpeculative
The London Stock Exchange might see reduced market uncertainty due to the ruling out of a capital gains tax increase.
How it developed
Newest first. Tap a step to see who reported it.Healey delivered the budget; Ipsos surveyed Labour's current poll lead over Tory rivals.1 source
Kemi Badenoch plans cuts to the civil service as Healey prepares for the Budget amid Ipsos polling.1 source
Ipsos conducted polls assessing public views on Healey's economic test and expectations for Burnham's Budget.1 source
Keep exploring
The entities involved
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Ipsos
Norwegian market research firm
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John Healey
British politician (born 1960)
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Andy Burnham
British politician (born 1970)
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Rachel Reeves
British politician and current Chancellor of the Exchequer (born 1979)
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Related events
- Burnham's government implements policy changes, which were influenced by Rachel Reeves' previous tax policy on John Healey.
- Burnham's spending commitments are reportedly putting pressure on Healey's budget as the government prepares its first budget.
- The Office for Budget Responsibility is evaluating the economic impact of government plans led by Andy Burnham and John Healey.
- Andy Burnham and John Healey are preparing for the first Budget of the new government.
- Andy Burnham and John Healey are co-leading the government budget preparation.