Chancellor John Healey has presented the Budget. The minimum wage will rise to £13.21, 20 million homes in England will receive £100 for energy, and the fuel duty cut stays. From April 2027, however, tax on interest and rent will rise.
The day before the Budget the government announced five changes: a permanent 55p-per-mile rate and a higher 35p rate above 10,000 miles, paid leave for self-employed fathers, an end to the Carer’s Allowance “cliff edge” and lower tariffs on more than 100 food products.
On Wednesday 28 October Chancellor John Healey will present his first Budget. We checked what is officially confirmed and what is only press reporting. Inflation has risen to 3.5%, and the government will decide on fuel duty from 2027 in the Budget. We explain who the changes affect and how to prepare.
Mayors in England will receive £285 million from the Good Growth programme in 2027 and a £1.5 billion loan facility from 2028. The money will go to housing, high streets and transport. For businesses, it is a signal that more contracts will be decided in the regions.
According to press reports, the government is considering sharply restricting Business Asset Disposal Relief, which lowers the tax on selling a business. Today the relieved rate is 18% and the limit is £1 million. We explain who it affects and how to prepare before the Budget.
The average of independent forecasts compiled by HM Treasury: UK economic growth of 1.3% for 2026 as a whole, CPI inflation of 3.6% and unemployment of 5.1% in Q4 2026. Bank of England rates are expected to fall very slowly. This is the backdrop to the 28 October Budget.
In September the state borrowed £24.5bn – £1.9bn more than forecast. Public debt exceeded £3 trillion for the first time. ONS data from 21 October.
Tomorrow company insolvency data, on Wednesday inflation, on 28 October the Budget, on 5 November the Bank of England decision. We have gathered in one place the dates that could change costs for Polish businesses in the UK and Poland in the coming weeks.
The Budget will be delivered today, 28 October, at around 12:30. Chancellor John Healey will present his first Budget. We set out what is already settled for small businesses and what is only a leak. After the statement we will update this article with the official decisions.
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