News · aol.co.uk

Chancellor has given good news to small businesses but he must do more

Baroness Ayesha Hazarika writes that small and medium-sized businesses are the backbone of both the economy and local communities, and says Chancellor John Healey should do more for them before Wednesday's Budget despite some progress on cutting red tape. She points to small businesses such as a Brixton nail bar that employ local young people but are struggling under extra taxes and burdens. She asks for a signal of intent from government, ideally a modest tax break for retail, hospitality, beauty and other SME sectors.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Chancellor has given good news to small businesses but he must do more

Read the original on aol.co.uk ↗

Keywords

small and medium enterprisestaxesbudgetUKJohn Healey

Open a keyword to see other news on the same topic.

Related tickers and likely impact

GBP/USD

• Neutral

Relevance: low

MarketCurrencies
Close on 10/23/20261.33804
Change that session-0.15%
GBP/USD price, forecasts and signals →

Impact is scored by AI from the headline and may be wrong. It is not investment advice.

Related news

  • Ditching a damaging capital gains tax rise doesnt make Healey a pro - growth Chancellor

    The government has ruled out raising capital gains tax (CGT) in the upcoming budget, but author Daniel Herring argues that Labour's broader tax and spending policies remain damaging and uncompetitive. He says CGT is paid by a small group: about 32,000 taxpayers provide 80% of CGT revenue, and people can delay selling assets to avoid it. HMRC estimates that raising the higher rate by 10 percentage points could cut revenue by £3.6bn after three years. According to the Tax Foundation, the UK ranks 30th out of 38 OECD countries on tax competitiveness, and raising CGT to 45% would give it the world's highest rate and drop it to 32nd. The author concludes that Chancellor John Healey has not prioritised growth, and that the government must choose between high spending with high taxes on ordinary workers or low spending with low taxes.

    cityam.com·UKtaxesbudget
  • Chancellor pledges Budget for 'bloody-minded' businesses as he admits firms are under pressure

    Chancellor John Healey said his Budget will look at cutting the cost of business in Britain and admitted that firms have been under a lot of pressure, while praising entrepreneurs who keep going through “sheer bloody-mindedness.” Government spending rose 5.6% to £111.3 billion in September, and borrowing exceeded expectations at £24.5 billion, while inflation rose to an 11-month high of 3.5%, partly due to higher fuel costs linked to the Iran war. Under the planned overhaul, pubs, cafes and hairdressers would no longer pay business rates, sparing around 75,000 properties, with the lost revenue offset by higher tax on online retailers. Healey is also expected to raise bank taxes, and the IMF praised the UK's long-term management of its budget deficit.

    lbc.co.uk·▼ GBP/USDUKbudgettaxes
  • John Healey Budget 2026 TUC calls for more tax on bank profitscountytimes.co.uk·John Healeybudgettaxes
  • UK bank shares fall on report of potential tax hike in Oct. 28 budget

    Shares of Lloyds and NatWest fell about 2.3% and 2.05% after The Guardian reported that Finance Minister John Healey plans to raise bank taxes in his October 28 budget to offset fiscal damage from the Middle East war. One option is reversing Jeremy Hunt's cuts to the bank surcharge, which could raise over £2 billion a year, with industry expecting a rise from 3% to 8%. The TUC has lobbied for 16%, while lobby groups warn that higher taxes could push banks to move staff and business out of the UK. The debate comes as the big four banks made £200 billion in pre-tax profit over five years, and rising borrowing costs could as much as halve the £24 billion fiscal cushion.

    Yahoo Finance·banksUKtaxes
  • John Healey Budget 2026 TUC calls for more tax on bank profitsgazetteseries.co.uk·budgettaxesbanks
  • John Healey urged to hike taxes on bank bumper profit in Budgetealingtimes.co.uk·budgettaxesbanks

Related markets

Currencies →

Latest news

  • Hanoi: Court urges former SeABank Hai Ba Trung director to surrender before in-absentia trial

    The Hanoi People’s Court plans to try two fugitive defendants in absentia on 9 November: Nguyễn Thị Hương Giang (former director of SeABank’s Hai Bà Trưng branch) and Lê Anh Tâm (former director of An Việt Úc Company). They are charged with fraudulent appropriation of assets and violating lending rules of credit institutions. The indictment says Giang directed staff to create fake credit files, enabling Nguyễn Hoàng Long and accomplices to borrow 29.5 billion dong, of which over 14.2 billion dong was misappropriated, even though no steel stored in the warehouse actually existed. Tâm, Long’s brother-in-law, allegedly signed fake sales contracts, valuation minutes and collateral contracts to support the loans. The court urges both defendants to surrender so they can attend the trial, exercise their right to self-defence and be eligible for leniency.

    CafeF·▼ SSBbankscreditSeABank
  • VN-Index gains over 68 points last week, with VIC contributing nearly 37 points

    In the week of 19–23/10, the VN-Index recovered nearly 4%, or over 68 points, mainly because the last three sessions lifted the index from around 1,690 points to above 1,774 points. VIC was the biggest driver, contributing about 36.7 points as its share price rose from 215,000 dong to 236,500 dong and hit the ceiling price on 21/10; VHM and VPL added 6.2 and 2.8 points. Most sectors gained, led by real estate at 7.6%, while health care fell 0.4% and information technology dropped 1.23%. The HNX-Index also rose about 1.4%, or 3.6 points, closing at 262.7, with NVB contributing the most at 1.3 points.

    Vietstock·▲ VNINDEX▲ VICVNINDEXVICreal estate
  • Interest rates on 24/10 at Agribank, Vietcombank, BIDV, VietinBank, MB, VPBank, Techcombank, Sacombank, HDBank, ...

    An online survey of deposit rates at 35 banks on 24/10/2026 shows 12-month rates ranging from 3.7% to 7% per year. Sacombank, PGBank, VCBNeo, MBV and VIB all list the highest rate of 7% per year, while the Big 4 banks Agribank, BIDV, Vietcombank and VietinBank stay at 6.8%. For the 18-month term, VPBank leads at 7.4% per year, and for the 6-month term PGBank tops the list at 6.9%. On a 100 million VND deposit held for 12 months without early withdrawal, simple interest at 7% per year comes to about 7 million VND, versus about 3.7 million VND at 3.7%.

    CafeF·interest ratesbankssavings accounts
  • The Puzzle Pieces for a Stock Market Crash Are Taking Shape, With 4 Historically Flawless Indicators Now Sounding the Alarm

    Four years into the current bull market, which began after the 2022 bear market ended, the S&P 500 and Nasdaq Composite have more than doubled and the Dow Jones has risen 84%, driven by AI infrastructure spending and record share buybacks. The article argues valuations are historically stretched: the Shiller P/E topped 41 as of Oct. 21, the second-priciest level in history, versus a 156-year average of 17.44. Since January 1871, the CAPE Ratio has exceeded 30 during a continuous bull market only six times, and the previous five were followed by declines of 20% to 89% in one or more major indexes. Outstanding margin debt hit a record $1.502 trillion in June 2026, up 77% since April 2025; after the three earlier surges of this kind peaked, the S&P 500 fell 49%, 57% and 25%. The article also notes that investors have historically overestimated how fast next-big-thing technologies get adopted.

    Yahoo Finance·▼ QQQ▼ SPYvaluationS&P 500Nasdaq
  • Micron vs. Sandisk: Which Is the Better AI Memory Stock to Own for the Next 3 Years

    Micron and Sandisk have both surged in 2026 on demand for memory chips in AI data centers, with Micron up 220% and Sandisk up 480% as of writing. The article argues Micron has the edge because it sells both DRAM and NAND flash, while Sandisk is a pure-play NAND flash maker; DRAM generated 73% of Micron's revenue last quarter, almost $40 billion, driven by fast-growing HBM demand. It cites expectations that NAND flash will stay undersupplied over the next three years, and notes Micron has raised HBM pricing significantly for 2027. According to Counterpoint Research, Micron holds 15% of the NAND flash market versus Sandisk's 11%, and 24% of the DRAM market. The author considers Micron the more attractively valued stock, and analysts expect its earnings per share to grow faster than Sandisk's over the long run.

    Yahoo Finance·Micronsemiconductorsartificial intelligence
  • Dave Ramsey Calls 2026 Crash Predictions “Freaking Asinine.” Here’s What the Data Says.

    Dave Ramsey told listener Mark from Arizona on The Ramsey Show on October 16, 2026 that predicting stocks will halve in 2026 while company profits stay the same is 'freaking asinine'. The article agrees that staying invested is correct but says the halving claim exaggerates the case, since prices can fall sharply on fear even when profits hold, while long-run returns follow earnings. It cites SPY's 255% gain over 10 years and 12% so far in 2026, the VIX rising from 15 to 19, and real GDP growth of 2% annualized. The real risk depends on when withdrawals start: a retiree pulling $20,000 from a $400,000 portfolio would see the withdrawal rate rise from 5% to about 7% after a 30% drop, forcing sales at low prices. The article suggests money needed within about five years belongs in cash or bonds, and that savers compare their mix with a target-date fund for their retirement year.

    Yahoo Finance·personal financeretireesSPY

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.