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ARTICLE · 04 SEPTEMBER 2026

Budget Tracker (2026)

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The Chancellor of the Exchequer faces the formidable challenge of delivering his first Budget amid economic headwinds, geopolitical instability, and a wave of ambitious government promises. With GDP growth forecast at just 1.1%, inflation at 3.4%, and public sector net borrowing exceeding £115 billion, can he balance fiscal responsibility with pledges to avoid raising Income Tax, National Insurance, or VAT while funding increased defence spending and social care reforms?

United KingdomGovernment, Public Sector

Tax Measures Speculated to be Included in Autumn Budget 2026

53 days to budget

The Chancellor of the Exchequer, Rt Hon John Healey MP, will deliver his first Budget on Wednesday 28 October 2026.

The Chancellor inherits all of the economic challenges and geopolitical instability that his predecessor faced, but he has taken charge of HM Treasury alongside a wave of promises from the new Prime Minister to bring "new hope", give people and businesses "a little breathing space", devolve spending power to the regions, address the crisis in social care, materially increase defence spending … and "stick well within [Rachel Reeves'] fiscal rules" and honour the Labour government's 2024 Manifesto pledge to "not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT": still the three largest revenue-raising levers available. Can he meet all expectations, please everyone, and balance the books? Budget 2026 could be a blockbuster.

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