The Aporia
The Aporia
Cecil, N. (2026, October 20). Budget 2026: How Chancellor John Healey will hammer the City. Evening Standard. https://www.standard.co.uk/news/politics/budget-tax-chancellor-john-healey-hit-banks-city-b1301644.html
Cecil, Nicholas. “Budget 2026: How Chancellor John Healey will hammer the City.” Evening Standard, 20 Oct. 2026, https://www.standard.co.uk/news/politics/budget-tax-chancellor-john-healey-hit-banks-city-b1301644.html.
Cecil, Nicholas. “Budget 2026: How Chancellor John Healey will hammer the City.” Evening Standard, October 20, 2026. https://www.standard.co.uk/news/politics/budget-tax-chancellor-john-healey-hit-banks-city-b1301644.html.
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On October 28, Chancellor John Healey will present his first Budget in Britain. Despite hopes from some quarters that it would be a budget focused on business and bond markets through voluntary restraint on government spending and avoiding tax hikes, Healey has indicated he expects to see further borrowing and tax increases instead. Critics predict this approach is not conducive to economic growth. One possible move could involve reversing a previous cut in the bank surcharge on corporation tax from 8% to 3%, which was implemented by former Chancellor Jeremy Hunt three years ago, potentially generating an additional £2 billion annually for the Treasury.
