<p>Conservative leader to give a speech later, while Treasury sources say Healey has ruled out a rise in capital gains tax</p><p>Here is <strong>Jessica Elgot</strong>’s story on <strong>John Healey</strong> ruling out raising capital gains tax in the budget.</p><p>Good morning. <strong>John Healey</strong>, the chancellor, is delivering his first budget a week tomorrow, and this morning there are two news developments that will help to frame the way it is received.</p><p>Senior allies of Andy Burnham, including several cabinet ministers, have been pressing for a rise in capital gains tax on the sale of second homes, shares and other assets to help repair the public finances.</p><p>However, the chancellor has ruled this out after warnings that it could ultimately cost the government money if <a href="https://www.thetimes.com/business/companies-markets/article/high-net-worth-individuals-tax-britain-xpvc5vmmv">wealthy individuals left the UK</a> or deferred selling assets …</p><p>John Healey is not Rachel Reeves.</p><p>Many people see that as an improvement.</p> <a href="https://www.theguardian.com/politics/live/2026/oct/20/kemi-badenoch-john-healey-capital-gains-tax-budget-covid-inquiry-care-homes-uk-politics-latest-news">Continue reading...</a>
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Badenoch says Healey’s budget will be worse than Reeves’s if he doesn’t slash spending – UK politics live
<p>Conservative leader to give a speech later, while Treasury sources say Healey has ruled out a rise in capital gains tax</p><p>Here is <strong>Jessica Elgot</strong>’s story on <strong>John Healey</strong> ruling out raising capital gains tax in the budget.</p><p>Good morning. <strong>John Healey</strong>, the chancellor, is delivering his first budget a week tomorrow, and this morning there are two news developments that will help to frame the way it is received.</p><p>Senior allies of Andy Burnham, including several cabinet ministers, have been pressing for a rise in capital gains tax on the sale of second homes, shares and other assets to help repair the public finances.</p><p>However, the chancellor has ruled this out after warnings that it could ultimately cost the government money if <a href="https://www.thetimes.com/business/companies-markets/article/high-net-worth-individuals-tax-britain-xpvc5vmmv">wealthy individuals left the UK</a> or deferred selling assets …</p><p>John Healey is not Rachel Reeves.</p><p>Many people see that as an improvement.</p> <a href="https://www.theguardian.com/politics/live/2026/oct/20/kemi-badenoch-john-healey-capital-gains-tax-budget-covid-inquiry-care-homes-uk-politics-latest-news">Continue reading...</a>