Chancellor John Healey has unveiled his first budget today, a mostly expected set of measures, but with some surprises to bank surcharges and ISA’s compared with his predecessor.
Here are the key takeaway’s from today’s Budget
Treasury’s fiscal headroom falls by £8.6bn
Chancellor of the Exchequer John Healey has reduced the Treasury’s fiscal headroom to £15bn during 2029-30, from £23.6bn during March’s forecast, according to figures from the Office for Budget Responsibility (OBR).
Banks surcharge up by 3% to provide ‘breathing space’
In a move widely expected by financial markets, Healey has confirmed he is turning to banks to help provide breathing space for citizens in today’s Autumn Budget.
Healey reaffirms commitment to defence spending
After much debate, Healey has reaffirmed his commitment to defence spending.
New tax relief for business founders
Healey has announced a new relief in Capital Gains Tax (CGT) for business founders.
Healey U-turns on cash ISA limit
The chancellor has scrapped the government’s policy of implementing a £12,000 per year limit on cash ISA contributions as part of his first Budget.
Healey has boosted spending on AI-related projects in today’s Budget.
Chancellor reveals plan for ‘Starter ISA’
The UK Government will launch a ‘Starter ISA’ to incentivise new investors to buy into stocks and shares, according to the Autumn Budget.
Pensions unscathed as tax-free withdrawals stay at £268k
Pensions have come through Healey’s Budget largely unscathed, providing relief to both those nearing retirement and providers.
Autumn Budget 2026: Gilts steady after budget ‘broadly consistent with market expectations’
Healey’s first budget has resulted in a cautiously optimistic reaction from UK gilt markets, with gilts outperforming US Treasuries by five basis points at the time of writing (28 October 2026).
