UK Autumn Budget 2026

The Chancellor of the Exchequer, John Healey, delivered his maiden Budget today. 

The principal measures are set out in our full briefing which can be found here.

Set against a backdrop of elusive economic growth, stubbornly high inflation and increasing public debt, and with the constraints of the Government’s manifesto pledge not to increase National Insurance, rates of Income Tax or VAT for “working people”, the Chancellor had few options for significant revenue-raising measures. 

But tax revenue had to be found from somewhere, and in the short term, the Chancellor said he was “looking to our banks to help fund breathing space for British families”. A 3% increase to the Corporation Tax Surcharge on the profits of banks and building societies was thereby announced, albeit a temporary one that will run for 15 months from January 2027.