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.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Chancellor pledges Budget for bloody - minded businesses as he admits firms are under pressure
Read the original on lbc.co.uk ↗
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GBP/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 1.33943 |
| Change that session | +0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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