- The Resolution Foundation think tank has warned the Chancellor against postponing difficult economic decisions at the Budget on 28 October, urging immediate action to raise £8 billion in taxes.
- Financial headroom is predicted to have dropped from £24 billion to £12 billion due to the conflict in the Middle East, prompting calls to rebuild the fiscal buffer to at least £20 billion.
- Proposed measures include a 2p cut to employee National Insurance balanced by a 2p increase in income tax rates, alongside closing capital gains tax loopholes to target unearned income from pensioners, landlords and self-employed individuals.
- The think tank advocated for targeted energy bill support for lower-income families while recommending an end to the fuel duty freeze, arguing it disproportionately benefits wealthier households.
- While clean energy donor Dale Vince backed equalising capital gains tax with income tax to raise up to £14 billion per year, reports indicate Healey has ruled out equalising the tax rates.
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